Budget drives development of corridors in Bangalore
After the Union Budget was announced, Bangalore is expecting major developments impacting its real estate market. The recent announcement of the business corridor has brought a cheer to the city realtors.
The dream project, the Peninsular Region Industrial Development Corridor (PRIDe corridor) or the Andhra Pradesh-Chennai-Bangalore-Mumbai corridor, comes close to reality, the industrial potential of Bangalore too will get set for a revival.
The business corridor would connect major cities in the south such as Bangalore and Chennai with Mumbai. the PRIDe corridor is expected to provide a strong transportation system along with prominent connectivity to industrial locations. It is very early to talk about the corridor’s impact on the Bangalore real estate market. But in the next six months, there may be a rise of 15 to 20 percent in the capital values across the city, say experts.
The localities which are going to get impacted by this corridor mainly belong to the western part of the city. West Bangalore is still under development and the corridor will play a major role in its development. Localities that would witness a major impact include Peenya, Jalahalli, Dasarahalli and Tumkur road.
Tumkur road is already booming due to the planned national investment and manufacturing zone (NIMZ) which would be a 5,000 hectare integrated industrial township. The Bangalore-Mumbai corridor crossing through Tumkur Road will be an add on to its growth. The shifting of the Peenya industrial belt to Dobbaspet in west Bangalore is also going to help the western front picking up its industrial activity.
Hoskote located in the eastern outskirts of Bangalore, along the Chennai-Bangalore corridor is likely to witness huge growth. The key businesses that would be mushrooming along this corridor include industries such as cement, steel, IT, food processing, automobile and manufacturing, petroleum and chemicals etc. The realtors feel that the residential market will also get benefited through this corridor as the demand for housing would increase.
Click here for related forum discussion
Related real Estate News:
16 lane corridor from Gateway Tower to Golf Course Road
Budget favors Bangalore city development!
Bangalore, Bangalore real estate market, Bangalore realty, Bangalore-Chennai corridor, Bangalore-Mumbai corridor, business corridors, Peenya industrial belt, Peninsular Region Industrial Development Corridor, Real-estate market, Tumkur Road, union budget
