Since the Bangalore International Airport (BIA) was set up in the city in 2008, the real estate market of North Bangalore has been at its peak. From then on, this particular market has been evolving and growing at a steady pace.
From commercial establishments, growth in infrastructure, to residential project launches, the real estate market of North Bangalore has been on a roll. Also, connectivity through the Hebbal Flyover, the Outer Ring Road (ORR) and the new expressway over Bellary Road has drawn the intentness of builders, developers and investors to invest heavily in this part of the city.
Known for its connectivity, Hebbal boasts of flyovers across the Outer Ring Road and Bellary Road on NH-7. The area is also a converging hug for Vayu Vajra buses, BMTC buses and the upcoming Bangalore Metro Rail service.
Real estate in the area took off after major infrastructure and connectivity developments and commercial set-ups came up. The phase 2 of Bangalore Metro is proposed to extend the Gottigere-Nagavara line up to BIA via Hebbal and Yelahanka. This is giving a boost to the real estate landscape of this locality.
Another locality that has made a mark in the latest report is Yelahanka. Proximity to the airport, (29 km), has propelled the real estate values in this once sleepy locality and made it worthwhile to invest in apartments in Yelahanka. In the last five-six years the area has witnessed the launch of a number of residential projects, which are either completed or are on the verge of completion.
Once a quaint suburb, Yelahanka is now bustling with commercial as well as residential activities. Just 14 km from downtown Bangalore, Yelahanka is a rapidly developing northern belt of Greater Bangalore. The region has grown into one of the major business hubs of the city, with most of the activities focused on the Hospital Main Road, BB Road, Major Sandeep Unnikrishnan Road and 16th ‘B’ Cross Road in New Town. What is more, Yelahanka is also known to be safer than some parts of Bangalore because of the presence of a large population of military personnel.
It is evident that major parts of the localities in Northern Bangalore have delivered good returns in the past. With the growth of the IT and the BPO industries, coupled with the proposed infrastructure plans, the real estate market in Northern Bangalore is forecasted to increase, providing a steady and reasonable growth to the home buyers.
