Real estate in Neo Bangalore develops due to good infrastructure and connectivity
Bangalore’s Hoskote, Neo Bangalore is a new satellite township with world class connectivity and rapidly growing infrastructure. The real estate in this area is booming and housing is witnessing high demand.
Recently, the Government of Karnataka has inaugurated a BMTC bus depot in Neo Bangalore. The proposed Satellite Township Ring Road (STRR) covering 284 km will connect Hoskote with important satellite towns around Bangalore. The Intermediate Ring Road (IRR) covering 188 km also connects Neo Bangalore to the rest of Bangalore.
In the last few years, Neo Bangalore has witnessed huge growth due to connectivity and infrastructure. Due to this the property price in this area is also rising. It is about 12 km from the IT hubs such as Whitefield and ITPL. Neo Bangalore also offers a traffic-free drive from the Bangalore International Airport, Byappanahalli Metro Station and KR Puram Railway Station.
A six lane super highway is being developed all the way to Sri Perambudur which will reduce travelling time between the two cities and also improves connectivity.
Around 400 Japanese have set up their stores along the Bangalore-Chennai belt and Hoskote which is the starting point of the corridor. Neo Bangalore is expected to see an annual appreciation of 15 to 20 percent in capital values.
Another reason for rise in residential values is Narasapura in Kolar district, which is at a distance of 20 km from Neo Bangalore. This area is known as the auto hub of the state and houses Volvo and Honda factories and will soon have many more auto brands.
The Karnataka government is having great plans for the area which includes an exclusively designed Special Economic Zone, SEZ, for electronics hardware and IT at Bagur, situated at a distance of 12.5 km from Hoskote. This will create employment opportunities which will further contribute to the growing demand for residential space in the area.
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