North Bangalore, not so fashionable an address until even a few years ago, has become the most sought after neighborhood of the city!
It is now a bustling business corridor that is witnessing many corporate and entertainment industry majors heavily investing in the area.
Here is a list of factors that are fueling the growth of the North Bangalore residential realty sector exponentially.
It is a well-known fact that airports have been the major growth drivers around major cities world over and Bangalore is no exception.
The Kempegowda International Airport is the third busiest airport by passenger traffic in the country, behind the airports in Delhi and Mumbai. To cater to the ever growing demand, work on the second terminal (T2), which has been designed by an US-based architectural firm, will commence this year. On completion, T2 will cater to 45 million passengers per annum. The combined capacity of T1 and T2 will be around 65 million passengers per annum.
North Bangalore is rapidly evolving as the business and economic hub of Bangalore city. At present it boasts of robust IT parks including the Manyata Tech Park, Brigade Magnum, RMZ Latitude, Kirloskar Business Park, Shell Technology Centre, etc. which are directly fueling the growth of the residential market in the region. With more and more working professionals preferring to live closer to work, the demand for homes is rapidly increasing.
North Bangalore at the moment is on the forefront of a rapid infrastructure development. The range of high profile infrastructure development in North Bangalore encapsulates high speed rail-link connecting to the international airport, 116 KM peripheral ring road circumventing the city and connecting Old Madras, Hennur and Bellary road etc. and capacity expansion of Yelahanka road. Not to mention business parks such as information Technology Investment Region (ITIR), Devanhalli IT Park and Bangalore Aerospace Park (BAP) which once completed are expected to generate massive employment opportunities.
The area has witnessed a surge in social infrastructure in the form of quality schools and hospitals. North Bangalore is home to some of the best schools in the country including Vidyashilp Academy, Mallya Aditi International School, National Public School, etc. The area also houses the leading hospitals in Bangalore including Aster CMI, Columbia Asia, Bangalore Baptist Hospital, etc.
North Bangalore’s real estate growth is basically driven by new infrastructure developments, land availability, greater connectivity, IT parks, and most importantly, the international airport. The real estate market in North Bangalore offers diverse products for all types of requirements. Not only is the place a great place to live but also makes a great investment sense.