Bangalore Namma Metro Encourages Real Estate Development

Bangalore Namma Metro Encourages Real Estate Development

By siliconindia   |   Monday, February 23, 2015
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The Investment property along the metro corridor is evaluating the potential of Real estate Development. Development around the transit system of the city is an emerging trend. Many cities have witnessed this success story. Bangalore is one of the fastest growing cities in India. To keep pace with the rapid development, the city has been planning many infrastructural developments.

The Bangalore Namma Metro connecting all peripheral localities is one such infrastructure activity; this infrastructure development is opening up many new localities in outskirts and serving hard to turn it as micro markets. Many old localities in East zone and South zone have transformed into commercial and residential hubs by owning its connectivity.

In March 2014, reach III, the 5.1 km long north line from Sampige Road to Yeshwanthpur and Reach 3A, the first north extension line of 4.8 kms from Yeshwantapur to Peenya Industry covering 10 stations became operational. This metro line joined the area Malleshwaram with the industrial areas Peenya and Yeshwantapur.

Reach 3B, Second north extension line of 2.5 kms from Peenya Industrial Area to Nagasandra is anticipated to be operational by March 2015. It covers total 13 kms by connecting the stations of Jalahalli, Nagasandra and Dasarahalli. Earlier, these areas are considered to be the outer limits of the North-west zone.

Irshad Ahmed, President, Irshads Property Matters says that “the North-west zone of Bangalore has a lot of potential. By expecting the localities growth in a big way, numerous residential projects are already on the anvil. The metro will give a big boost in future”.

Imam-chairman of Spice Estates says this metro expansion will boost residential demand on Hesarghatta Road and North West zone. Many renowned developers are offering housing plots and Villas close to Hesarghatta Main Road.  

If the Metro section, Reach 3A of 4.8 km from Yeshwantapur to Peenya Industrial Area completes the stretch offers extensive connectivity through NICE Road, ORR (Outer Ring Road) and Tumkur Road Highway and planned Peripheral Road. This splendid connectivity leads to the emergence of new self sustaining localities.

 “The Peenya Industrial area will be beneficial with this easy connectivity and metro stations of Jalahalli and Dasarahalli”, says Executive Director, Naveen Nandwani,.

“With this enhanced infrastructure development there will be probable for commercial development in industrial belts Peenya and Nagasandra. Proximity to CBD and Yeshwantapur area will open up the demand for premium developments”, Naveen added.

According to Idirees Chenakkal Head Research and consulting, the residential localities that are going to benefit from this stretch are Jalahalli West, Hesarghatta Road and Tumkur Road. The areas which can emerge as Residential hotspots are Jalahalli east, Jalahalli west and Hesarghatta Main Road.

He says, “As the locality housing small scale industries, there is a requirement of affordable and mid segment housing and this is expected to increase the need of Affordable and mid segment housing. The localities witnessing a high residential demand of the mid level segment and Affordable housing are Laggere, Dasarahalli, HMT housing Colony, Chikkasandra, BHEL Colony, and Jalahalli.

Further, He adds “With rising demand, capital values will raise and offer prospects to investors. The peripheral localities having large parcels of land are expected to appreciate in a large pace”.

 

 

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