RMV Extension

 

Adorning the northern region of Bengaluru, RMV Extension is a well-developed BDA Layout. The locality is well heeled with carefully demarcated streets and roads, catering perfectly to the residential and commercial needs of the residents.

 

Abutted by clean water bodies and parks like Hebbal Lake, Hebbal Park, and Boulevard Park, and the bustling Outer Ring Road, RMV Extension enjoys the tranquility of a calm and pristine suburb on one hand, and the buzz of a concrete jungle on the other.

 

The locality’s proximity to Hebbal gives it the much required edge in the real estate market. It also lies engulfed with the likes of Thanisandra, Yeshwantpur, Mathikere, and Nagavara. The locality sits in proximity to the famous Dollars Colony, which serves as a home to many film stars and politicians. Proximity to these well-developed suburbs has worked to RMV Extension’s advantage in the past, and would continue to add to its success story in the future.

 

Apart from boasting of an affluent neighbourhood, the locality brags of brisk social and civic infrastructure, with facilities like schools, colleges, hospitals, parks, well-maintained roads, and bus stops in place. Apart from institutions like Brindavan College and International School of Business & Entrepreneurship, the locality shares proximity to renowned and widely preferred institutions like MS Ramaiah and Acharya Institute.

 

Even though the locality’s primary development has been focused on the residential outfront, commercial establishments like restaurants, bakeries, cafes, grocery stores, supermarkets, meat stores, and hardware stores are found in the area. Entertainment and shopping zones like Esteem Mall, Shop Mall Store, and Big Bazaar are situated at a walking distance from RMV Extension.

 

Connectivity and Transit Points

 

Outer Ring Road serves as the primary connecting point for RMV Extension, connecting it to localities like Hebbal, Nagavara, Thanisandra, and Bhoopasandra. The Outer Ring Road meets Bangalore-Mangalore Highway, which further converges into Hesarghatta Main Road towards the north and into Nice Ring Road towards the south. This wide network of roads provide excellent connectivity and accessibility to and from RMV Extension.

 

Public transportation via local BMTC A/C Volvo and non A/C buses is commendable, with buses plying all day long from bus stops like Basaveswar Layout Bus Stop, NTI Bus Stand, Ayyappa Bakery Bus Stop, and Bhoopasandra Bus Stop, which are present within the locality. Locals board buses from these bus stops to reach K.R. Market, Town Hall, Corporation, Majestic, Anand Rao Circle, and Jayamahal. Inter-city buses can be boarded from the bus stop near Hebbal Flyover, which lies at a mere distance of 3 km.

 

Hebbal Railway Station is a transit point for commuters travelling to Yeshwantpur, Electronic City, Hosur, and Salem. It lies at a distance of 1.3 km from RMV Extension. The locality also shares proximity to the two prime railway stations of Bengaluru, Yeshwantpur Railway Station and Bangalore City Junction, lying at a distance of 6 km and 11 km respectively. Trains from these stations facilitate inter-state travel, and passengers can reach these stations via affordable and direct BMTC buses.

 

Bengaluru International Airport, otherwise known as Kempegowda International Airport, is situated 29 km from here, and be reached via NH-7 within an hour. BIAS bus service can also be availed to reach the airport from RMV Extension.

 

Major Landmarks

 

•        BDA Park
•        KMF Grounds
•        Veeresh Gas Agency
•        Jamia Masjid
•        Pebble Bay Badminton Court
•        La Casa de Verde
•        Sunrise School
•        Noor College of Nursing

 

Factors for Future Growth in the Past

 

Improved connectivity and accessibility via Outer Ring Road is a major factor that put RMV Extension on the map. The improvements along the Outer Ring Road played a very important role in enhancing the locality’s connectivity, and roped in a lot of builders to set up small-to-large scale projects in the area.

 

The advent of the IT industry in nearby localities like Hebbal, Nagavara, and Thanisandra acted as a catalyst to the locality’s growth. Its proximity to these areas grabbed the attention of the Bangalore Development Authority (BDA), who took the initiative to transform this barren patch of land into a residential hub to cater to the growing housing needs of the IT dwellings nearby.

 

Residential and Commercial Market

 

Residential Market Trends

 

RMV Extension forms a part of the group of residential localities that are developed and run by the BDA. Properties in the area in the initial years of development were being sold in the form of residential plots and lands to individual investors and builder groups. However, with the rapid growth that took place in the nearby area, the locality quickly transformed these vacant plots into residential complexes and independent houses, leaving room for only a small portion of residential plots in RMX Extension.

 

Apartment variants of 2-3 BHK are widely available in the locality. However, the property rates for these 2 unit types differ drastically from each other. While 2 BHK apartments sell at an average rate of Rs 4,980 per sq. ft., 3 BHK apartments sell at an average rate of Rs 7,270 per sq. ft. The average price of 2-3 BHK apartments range from Rs 40 lakh to Rs 1.2 crore. Independent houses in RMV Extension sell at an average rate of Rs 8,420 per sq. ft., with the property price ranging from Rs 68 lakh to Rs 1.8 crore.

 

Because of the growing number of IT companies and educational institutions in nearby localities, the rent culture has become quite prominent in RMV Extension. The rental price of 2-4 BHK apartment units range from Rs 15,000 per month to Rs 3 lakh per month.

 

Commercial Market Trends

 

The commercial market in RMV Extension is not as developed as the residential market. However, a few commercial plots are available, and sell at an average rate of Rs 12,880 per sq. ft., with an average price of Rs 5.5 crore. Few office spaces are also available for rent, renting out at an average of Rs 50,000 per month.

 

Major Challenges

 

RMV Extension is plagued with typical civic challenges like improper garbage dumping, lack of garbage disposal measures, and sewage overflow. The residents in the area have been active in registering complaints against these problems, and are behind the BDA and other civic authorities to restore a healthy environment in the locality.

 

Factors for Growth in the Future

 

The proposed Phase-III of Namma Metro, which would connect Nagawara to Bengaluru International Airport and connect Hebbal with the likes of Yelahanka, Mekhri Circle, and Sarjapur Layout, would benefit the residents of RMV Extension indirectly by providing a faster mode of commute to these areas. This enhanced connectivity would work as an additional thrust for the locality’s potential in the real estate market.

 

With the growing interest of reputed developers like DS Max properties, Kolte Patil Developers, and Chartered Housing to invest and set up projects in the locality, the residential market of this locality will witness rapid growth of residential properties going into the future.