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Living spaces still come at a premium here
The closer of the airport for the commercial operations has not reduced real estate prices, Land lords have struck gold on airport road in Domlur. In the chokkanathaswamy temple vicinity in Domlur live Parvati and Arumugam whose family has been selling flowers for two generations. My father was unable to pay a rent of Rs. 400 during his time here. So, where is the question of buying a home? Asks the couple. Even now, with the metro rail work in p
rogress in nearby Indiranagar, the rates don’t allow us to think of our dream homes says Arumugam who pays a rent of Rs. 1,000 for a 10 ft x 10 ft house with a community toilet.
Be it Domlur, Kodihalli or Murgeshpalya, the inner areas extending up to the Airport Road command phenomenal rents even after the closure of HAL airport for commercial operations.
Says Suhasini Madhwa from the upmarket Diamond District: "Here it is Rs. 30,000 plus for a three bedroom flat, depending on the furnishing. There are several new apartments which command higher rent".
According to one version, the eastern township of Bangalore derived its name from Tombalur, Tombalu denotes a flower used in the worship of Shiva. This is supported by inscriptions found in Chokkanathaswamy temple, belived to be built by the Cholas.
Says R. Balaji, CEO, Propmart, an end to end property solutions company. In the 1990’s to the mid 2000, Domlur on HAL Airport road was like a nucleus for real estate, particularly residential property. The proximity to the airport made it a hot property. Besides, the surroundings of Domlur have vast army land which give it an avenue like look. Bit by bit, Domlur’s boundary extended to Indiranagar, Jeevanbimanagar and HAL (all stages).
The mixed use of land was tried in Domlur for the first time, Golden Enclave and Diamond District are examples of this, says Mr. Balaji.
During the boom, the price per sq.ft. for residential property went up to Rs. 9,000 and has now stabilized at Rs. 5,000. The apartment prices range from Rs. 5,000 to Rs. 7,000 a sq.ft. and the rental yield is between Rs. 15 to Rs. 25 a sq.ft.
There is hardly any land parcel available there, and after the metro work is completed, Domlur will command a premium price, as the residential structures on the main road are expected to give in for commercial use, feels Mr. Balaji.
According to Cushman & Wakefield, international real estate agents, Domlur is surrounded by multinational software companies and business process outsourcing firms like Dell, IBM, Microsoft and Target.
The major military establishments having divisions in Domlur are Indian Air Force, EME Workshop, and ASC.
The main advantage of Domlur is its proximity to Mahatma Gandhi Road and Koramangala.
A major landmark in Domlur is the Airport Road flyover. There is a good combination of independent houses and apartments of various grades.
Prior to the formation of the Inner Ring Road. Domlur used to function as a key residential catchment for the migrant working population of Indiranagar, Airport Road and Jeevanbimanagar, After the formation of IRR, the area developed better connectivity to other micro markets too, such as koramangala, Viveknangar, Madiwala, Parts of Sarajapur Road and Hosur Road Hence it acted as a key residential catchment for the migrant working population working out of commercial developments along the IRR stretch as well. In the last few years, paying guest (PG) accommodations have mushroomed in this micro market to house migrants to the city.
It is a tech hub too
The ubiquitous laptop bag in hand, the spiffy coolers, corporate counters techie all over, A very common sight in Domlur, which is today a bustling locality in the city, with technocrats working in the numerous IT companies located here. The multi faceted neighbourhood is home to global players such as Dell, IBM, Microsoft, Target among others and these in turn have contributed largely to its development.
What used to be a village a few decades ago is now a sought after spot in the city. For anyone travelling on lnner Ring Road through Domlur towards Koramangala, Dell building is hard to miss. Nestled among the numerous offices in the block, it was one of the first to be established here.
Dell manufactures, sells and supports personal computers and other computer – related products and the office in Domlur in one of the BPO (Business Process Outsourcing) firms for the U.S. headquarters. Dell’s Customer Contact Centres are also present in Gurgon, Mohali and Hyderabad.
International Business Machines (IBM) is another multinational monolith in the area. The office in Domlur caters to IBM’s global customers, Another famous landmark in the area is Microsoft Corporation’s BPO arm. Target is another such BPO located in the IT sector of Domlur that outsources to the company’s global customer services.
Source: The Hindu
Be it Domlur, Kodihalli or Murgeshpalya, the inner areas extending up to the Airport Road command phenomenal rents even after the closure of HAL airport for commercial operations.
Says Suhasini Madhwa from the upmarket Diamond District: "Here it is Rs. 30,000 plus for a three bedroom flat, depending on the furnishing. There are several new apartments which command higher rent".
According to one version, the eastern township of Bangalore derived its name from Tombalur, Tombalu denotes a flower used in the worship of Shiva. This is supported by inscriptions found in Chokkanathaswamy temple, belived to be built by the Cholas.
Says R. Balaji, CEO, Propmart, an end to end property solutions company. In the 1990’s to the mid 2000, Domlur on HAL Airport road was like a nucleus for real estate, particularly residential property. The proximity to the airport made it a hot property. Besides, the surroundings of Domlur have vast army land which give it an avenue like look. Bit by bit, Domlur’s boundary extended to Indiranagar, Jeevanbimanagar and HAL (all stages).
The mixed use of land was tried in Domlur for the first time, Golden Enclave and Diamond District are examples of this, says Mr. Balaji.
During the boom, the price per sq.ft. for residential property went up to Rs. 9,000 and has now stabilized at Rs. 5,000. The apartment prices range from Rs. 5,000 to Rs. 7,000 a sq.ft. and the rental yield is between Rs. 15 to Rs. 25 a sq.ft.
There is hardly any land parcel available there, and after the metro work is completed, Domlur will command a premium price, as the residential structures on the main road are expected to give in for commercial use, feels Mr. Balaji.
According to Cushman & Wakefield, international real estate agents, Domlur is surrounded by multinational software companies and business process outsourcing firms like Dell, IBM, Microsoft and Target.
The major military establishments having divisions in Domlur are Indian Air Force, EME Workshop, and ASC.
The main advantage of Domlur is its proximity to Mahatma Gandhi Road and Koramangala.
A major landmark in Domlur is the Airport Road flyover. There is a good combination of independent houses and apartments of various grades.
Prior to the formation of the Inner Ring Road. Domlur used to function as a key residential catchment for the migrant working population of Indiranagar, Airport Road and Jeevanbimanagar, After the formation of IRR, the area developed better connectivity to other micro markets too, such as koramangala, Viveknangar, Madiwala, Parts of Sarajapur Road and Hosur Road Hence it acted as a key residential catchment for the migrant working population working out of commercial developments along the IRR stretch as well. In the last few years, paying guest (PG) accommodations have mushroomed in this micro market to house migrants to the city.
It is a tech hub too
The ubiquitous laptop bag in hand, the spiffy coolers, corporate counters techie all over, A very common sight in Domlur, which is today a bustling locality in the city, with technocrats working in the numerous IT companies located here. The multi faceted neighbourhood is home to global players such as Dell, IBM, Microsoft, Target among others and these in turn have contributed largely to its development.
What used to be a village a few decades ago is now a sought after spot in the city. For anyone travelling on lnner Ring Road through Domlur towards Koramangala, Dell building is hard to miss. Nestled among the numerous offices in the block, it was one of the first to be established here.
Dell manufactures, sells and supports personal computers and other computer – related products and the office in Domlur in one of the BPO (Business Process Outsourcing) firms for the U.S. headquarters. Dell’s Customer Contact Centres are also present in Gurgon, Mohali and Hyderabad.
International Business Machines (IBM) is another multinational monolith in the area. The office in Domlur caters to IBM’s global customers, Another famous landmark in the area is Microsoft Corporation’s BPO arm. Target is another such BPO located in the IT sector of Domlur that outsources to the company’s global customer services.
Source: The Hindu
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