Whitefield, ORR – leading commercial areas in Bangalore: JLL
Bangalore- Whitefield and outer ring road, particularly the stretch of K R Puram-Marathahalli- Sarjapur Road, are emerging as the top commercial real estate destinations of the city, reports Jones Lang LaSalle India.
The Central Business District (CBD), Koramangala and Bannerghatta Road mostly remained stable throughout 2012.
Owing to fast developing IT corridors of Bangalore, adequate office supply, healthy absorption rate and significant price and rental appreciation, the outer ring road and Whitefield are witnessing real estate boom.
Since ORR is easily accessible from employee residential areas and its connectivity to the various SEZs and IT parks along the stretch, corporates continue to prefer ORR.
As there is lesser supply of ready to move in residences, pre-commitments are frequently observed. Both new entrants as well as existing residents looking at expansion continue to look for upcoming projects in outer ring road.
There is lack of supply of new residential projects due to which the leasing activities in the area are running low. And since Whitefield and ORR are established locations, there is lesser scope for infrastructure development.
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[...] airport, easy access to important roads such as Hosur Road, Sarjapur Road, Varthur Road, Outer Ring Road (ORR) have all been driving the demand for residential properties in [...]