South Bangalore: Haven for investors
South Bangalore houses some of the oldest residential localities such as Jayanagar, Chamrajapet and Basavanagudi. A well planned residential layout, Jayanagar, comprises of 10 blocks, has been further extended into J P Nagar, BTM Layout, Banashankari, Uttarahalli, Bellandur, HSR Layout, Electronics City, and Hosur Road.
Because growing MNC’s and IT companies in this area, planned connectivity through the metro, improved infrastructure with the Hosur Road grade expressway and upcoming commercial and retail developments, this locality has become a preferred residential hub as well as self sufficient region.
According to a real estate expert, after the evolution of Bangalore as an IT destination, the 90s saw the development of Koramangala and Bannerghatta Road due to their proximity to the Central Business District (CBD), availability of land, strategic location between the major IT hubs of the city and presence of quality infrastructure.
In addition to this, the government has identified and established IT companies in the peripheral locations of south and east Bangalore. Therefore areas like JP Nagar, came up as a residential extension to cater to the spillover demand from Jayanagar. After 2000, BTM layout developed as an extension to Koramangala and Bannerghatta Road owing to the availability of cheaper residential options.
The establishment of the Bangalore Mysore Infrastructure Corridor-NICE Road has improved the connectivity to Electronic City, Bannerghatta Road, Kanakapura Road and Mysore Road.
Metro Rail Phase I till Puttehahalli which is under construction is expected to get completed by mid 2014. J P Nagar and Banashankari continue to retain their attraction as residential destinations, with the upcoming metro construction.
Bannerghatta Road, which is one of the first location in Bangalore to house some of the most prominent MNC’s, has come up as a residential hub and has witnessed rapid growth. Bannerghatta Road is also favoured owing to its proximity to Koramangala. Affordable land prices and availability of Cauvery water have made the area the preferred destination by those employed in Electronics City and Bannerghatta Road. This location is also favoured by second home buyers.
In south Bangalore, the residential apartments are primarily high and mid range. There are high-end options, primarily in suburban areas of south Bangalore such as Koramangala and Bannerghatta Road. Bannerghatta Road and Sarjapur Road are the growth areas of South Bangalore that investors could look at.
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