Bangalore West observes growth with improved connectivity, infrastructure
Earlier, the western parts of Bangalore were noted for thickly populated residential layouts and industrial zones beyond. There was no development happening on the road to Mysore leading out of the city but today the belt is covered with innumerable realty developments with a spot of vacant land in sight.
The factors that improved the growth of real estate sector in this area was the broadening of the State highway to Mysore, followed by the NICE corridor, which made the region easily accessible and drastically cut down the travelling time.
The major locations in west Bangalore are Malleswaram, Vijaynagar, Tumkur road, Mysore road, Rajajinagar, Magadi Road, Dr. Rajkumar Road, Yeshwantpur and Uttarahalli. The region is expected to witness a huge uplift due to the two metro links. While Phase I metro will be touching Vijayanagar, in Phase II, the metro will connect Kengeri, thus connecting the region to the northern and eastern parts of the city.
In 2006, the Bangalore Metropolitan Region Development Authority (BMRDA) had come up with a plan for the development of integrated townships in Bidadi, Ramanagar, Solur, Sathanur and Nandagudi. The planned Peripheral Ring Road (PRR) too will bring connectivity from Hosur Road up to Nelamangala. As a number of super speciality hospitals have come up in this region, there is a huge demand from the medical professionals here. This has led to the development of high-end residential project. As a result, affordable housing is no longer the pillar of the realty segment in the west.
The West Bangalore real estate market is booming and many recently launched projects have proven it. Large business houses in this region are also moving towards luxury housing. Towards north-west bangalore, the capital value has gone up from Rs 4,000 per square feet to a range of Rs 6,500- 12,000 per sq ft. In times to come, the area is going to witness a lot of high end property developments. The locality promises to be a good bet for medium and long-term investors.
The west and south-western parts of the city command prices in the mid-segment from Rs 3,800 to Rs 4,700 per sqft. The demand in this region is increasing mainly because of the connectivity with the Metro and developing infrastructure. Hence, it has the advantage on the capital value as connectivity improves the demand and developers in this region contribute to the supply.
Click here for related forum discussion
Related Real Estate News:
Demand for residential real estate rises in Bangalore suburbs
South Bangalore: Haven for investors
North Bangalore: A residential hub
affordable housing in Bangalore, Bangalore metro, Bangalore Metropolitan Region Development Authority, Bangalore Real Estate, BMRDA Bangalore, high-end residential projects in Bangalore, Namma Metro, Real-estate market, realty developments, residential layouts in Bangalore, Villas in Bangalore, West Bangalore
