Flats in North Bangalore see Spurt in Capital Value

However, the capital value scenario is quite different for Electronics City, as it has seen a negative growth at 2350 per square feet which is 9.61 percent dip in the first quarter of 2011 compared to the last year’s same period, according to the PropIndex report of MagicBricks. The capital value for Whitefield and Sarjapur rose 14 percent and 16 percent respectively. On this note, Sudhir Pai, business head at MagicBricks.com quoted that “The scope for capital value appreciation is higher with infrastructure projects aiding growth in the northern corridor,” reports Times of India.

Considering the ongoing and upcoming infrastructure development, developers are banking on this to come up with residential project in the north Bangalore region. Furthermore, the government has drafted out a sketch of six-lane carriageway that will form a ring between Outer Ring Road and Satellite Town Ring Road in Devanahalli.

Avinash Rao, regional director-south at real estate consultancy Knight Frank India stated that “The closest node to this site will be Kogilu junction on NH-7.This will improve connectivity between NH-7 and the non-CBD commercial areas like Whitefield and Hosur.”