Real estate to boom with upcoming Bangalore-Mumbai Industrial Corridor
The upcoming Bangalore-Mumbai Industrial Corridor is expected to benefit many areas of the state. The British Prime Minister had expressed interest in this corridor during his recent visit to India.
If these corridors become reality, then there will be tolled roads, high speed rail connectivity and townships all along. This will relieve the congestion of the city’s industrial areas and provide industrial growth to several north Karnataka districts that have sizeable non-agricultural lands.
Towards Pune highway, the industrial development has already taken up on a massive scale by the Karnataka Industrial Areas Development Board (KIADB). The State’s industrial policy to0 has emphasized the development plan along this corridor.
In this sector, the industrial growth began with the development of Asia’s largest industrial facility- Peenya Industrial Area. To provide for the increasing demand for space, the National Highways Authority of India (NHAI) constructed an elevated corridor to Nelamangala to ease traffic congestion.
The Metro rail access till Hesaraghatta Cross and plans for further extension of the Metro Rail have made this area much in demand. KIADB has already started with the development work of the Greater Peenya Industrial Area and Dabaspet Industrial Area.
The Dabaspet Industrial Area is now in its fourth stage and the project is spread over 2, 957 acres of land. The profile of the more than 500 industries here varies from automobile, auto parts, textiles, pharma, aerospace, food processing and floriculture.
This industrial corridor will also create scope for residential complexes in form of integrated townships. Realty development can be seen in form of office spaces, residential property units and retail outlets from Yeshwanthpur till Nelamangala. This is due to the connectivity and employment opportunities in this region.
In the coming years, the area is going to witness tremendous realty growth because of the industrial growth and well connectivity. The NICE corridor is another important project that has put the focus on this region.
The strengthening of the Outer Ring Road via Dabaspet to Devanahalli, where the airport terminal is located will probably enhance the connection factor.
Click here for related forum discussion
Related Real Estate News:
Bangalore-Mumbai corridor to come up soon
Budget drives development of corridors in Bangalore
Bangalore, Bangalore real estate market, Bangalore realty, Bangalore-Mumbai corridor, business corridors, Dabaspet Industrial Area, Greater Peenya Industrial Area, Karnataka Industrial Areas Development Board, metro rail, National Highways Authority of India, NICE road, Real-estate market
