The stretch of the area from your Hebbal flyover upto Devanahalli is abuzz with plans for several commercial projects. The present Global Investors’ Meet, brought the therapy lamp into focus. Many industries have evinced keen desire for the three industrial parks which are coming on 3,000 acres of land in this area and will also be prepared to occupy after in 2010.
The widening of the Bellary Road and future connectivity through the planned Peripheral Ring Road (PRR) has chose to make this area a sought-after one. The PRR is aimed to connect Tumkur Road, Hosur Road, Mysore Road, Magadi Road, Bellary Road, Old Madras Road, and improve option of Devanahalli. This is spurring desire for residential options around these areas.
Based on findings from property firms, there are certain locations like north Bangalore which are buzzing with activity. This is because of infrastructure developments such as the new airport terminal, the metro project, flyovers, underpasses and road widening activities, that happen to be encouraging developers who anticipate a rise widely used. “Presently, property in North Bangalore is undergoing rapid transformation because of commercialization. Also, it can be noticeable that this region has significant residential property activity, together with commercial developments.
The provision of land parcels for commercial development is amongst the main factors driving development of Real estate property in North Bangalore. The demand continues to grow without having corresponding supply inside the pipeline, in addition to the existing tech park here. Other significant factors would be the proximity for the airport, road projects and upcoming residential and hospitality developments.
Over 3,000 acres of land, hardware, IT/BT and aerospace parks will likely be coming close to the airport terminal. There’s also provision to develop residential facility for people doing work in those industrial plants inside 250-300 acres of land. A few of the leading developers of Bangalore and Karnataka Housing Board (KHB) happen to be provided land. 100 acres happen to be sent to the KHB and 25 acres to private developers. A few of the projects are actually approved and a few they are under consideration. While 90 % of the space will likely be allocated for industrial and commercial activities, Ten percent of the space is restricted to housing.
There are land parcels in excess of 10 acres for sale in this micro market. The Pre Launch Prestige Falcon City as well as the Greater Peenya project coming will also have a significant effect on the development in this area, owing to the connectivity factor.
And with this, development of infrastructure is taking high priority of this type.
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