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Real Estate >> News
Residential Growth Drives Commercial Establishment
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siliconindia
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Monday, March 5, 2012
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Bangalore: The rise in demand for residential property in Bangalore has given a good scope for the development of commercial projects, reports Deepti Ganapathy, Times of India.
Today, buyers are more concerned about quality lifestyle. Considering the fact, developers are coming up with the concept of integrated townships, which include large commercial space, entertainment precinct, hotels, hospitals and housing facility.
Moreover, the commercial developments are catching up more in suburban areas, where the scope for residential growth with good infrastructure and advanced connectivity seems to be more prominent. According to Irshad Ahmed, MD, Irshad’s Property Matters, “The Devanahalli area promises development in the commercial sector”. He further stated that “Land is available with builders and due to the proximity to the international airport and scope for proposed Special Economic Zones to come up here, this area serves as a potential commercial hub,” reports TOI.
Devanahalli Road, Hennur Road and Old Madras Road are witnessing residential and gated community projects, which has led to the growth of commercial establishments. Well connected roads and land availability are the key reason for the development in these areas. On this context, Irshad stated that “Many chain hotel projects will come up close to the airport. There is one already in progress of construction near Mekhri circle.”
Furthermore, the southern part of the city is also observing commercial development at fast pace. Some of these areas are Bannerghatta Road, Kanakapura Road and the area around Electronic City. According to Zahed Mahmood, Director, Silverline Realty, “The major focus is on Whitefield and Electronic City.”
With the growth of residential hub in the city, commercial developments are no longer restricted to shopping establishments and offices, rather people have accepted the concept of commercial development as a part of their lifestyle that combines work and pleasure together.
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