Real estate scenario in Outer Ring Road
Outer Ring Road is a road that runs across the border of Bangalore. The 62 kms long road was developed by the Bangalore Development Authority. However, it passes through many parts of Bangalore city. It links some of the major localities of the city with other parts.
The outer ring road connects national and state highways like Tumkur Road (NH 4), Bellary Road (NH 7), Old Madras Road (NH 4), Hosur Road (NH 7), Bannerghatta Road, Kanakapura Road (NH 209), Mysore Road (SH-17) and Magadi Road. Other suburbs connected to the road are Hebbal, Banaswadi, Krishnarajapuram, Marathahalli, Madiwala, BTM Layout, JP Nagar, Banashankari, Kengeri, Bangalore University, Nagarbhavi, Nandini Layout and Gokula.
Marathahalli- Sarjapur Road stretch are emerging as the top commercial as well as residential real estate destinations of the Bangalore City.
Corporates continue to prefer ORR since ORR is easily accessible from employee residential areas and its connectivity to the various SEZs and IT parks along the stretch.
Bangalore Outer Ring Road is a thriving realty market for developers and investors. The demand for office space along this stretch has remained high owing to the proximity to residential catchments and availability of quality office real estate products.
Proximity to the city, IT hubs on the ORR such as Whitefield and Electronic City and developing social infrastructure like malls, hospitals and international schools have made the residential areas here adequately self-sufficient.
With improved connectivity and availability of land, there is much demand for development of residential clusters along the ORR. The ORR is on the path of becoming a self-sustained residential location.
The area is surrounded by many schools and colleges like New Horizon College of Engineering and Dr Ambedkar Institute of Technology.
Byappanahalli to Whitefield (extension of east-west line). This corridor has 14 stations—Jyothipuram, KR Puram, Narayanapura, Mahadevapura, Garudacharpalya, Doddanakundi, Visvesvaraya Industrial Estate, Kundalahalli, Vaidehi Hospital, Satya Sai Medical Institute, ITPL, Kadugodi, Ujwala Vidyalaya and Whitefield.
KR Puram is the nearest railway station which is around 18 kms from sarjapur Outer Ring Road and Bangalore International Airport is 52 kms approx from this place.
Upcoming projects in this stretch are Nitesh Palo Alto, Prestige Tech Vista, NCC Ivory Heights and Sobha Marvella. The projects are offering apartments ranging from 2 BHK to 4 BHK. The price of the apartments in these projects ranges from Rs 55 lakhs to Rs 3 crores. The rate per square feet ranges from Rs 5390 to Rs 8187. Outer Ring Road saw rentals appreciate by over 30 per cent in the last two years.
The area has registered capital appreciation of 4 per cent during the last six months with the rates of residential property here increasing from Rs 5580 per sq ft in the last quarter of 2012 to Rs 5810 per sq ft in the first quarter of 2013.
Related Real Estate News:
Overview of Bangalore real estate market 2012
Whitefield, ORR – leading commercial areas in Bangalore: JLL
apartments in outer ring road, Bangalore Outer Ring Road, Bangalore realty, Namma Bangalore, projects in Outer ring road, properties in Outer ring road, Real-estate market, Residential real estate
