If you are looking to invest in property in Bangalore, the
Hebbal-Yelahanka-Devanahalli stretch offers a gamut of 2, 3 and 4BHK options by
a mix of developers within a wide price bracket. The stretch is considered a
growth corridor which has seen substantial development in the past five-six
years, fueled by projects around the airport encompassing an aerospace park, a
financial district and an IT park.
Take Hebbal for instance. The Bangalore international
airport has made Hebbal an important destination. It has also emerged as an IT
hub with several technology parks and companies. Hebbal has good infrastructure
to support residential growth. New monorail and high-speed rail networks along
with the Bangalore Metro will boost its connectivity. Property values here
range between Rs 4,000-7,000 per sq ft.
Yelahanka, on the other hand, is a suburb of Bangalore,
originally envisaged as a satellite town of the city, but today a part of the
Bruhat Bangalore Mahanagara Palike (BBMP). “Over the last few years, developers
have built projects in the area. The reason for this is the existing and
proposed infrastructure and availability of large land banks. Also, people are
buying property in the Yelahanka-Devanahalli stretch for long-term investment
as prices are expected to appreciate,” says Augustine Joseph of Network
Ventures. Demand for housing mostly comes from those employed in North
Bangalore, especially employees at business parks like Kirloskar Business Park
and Manyata Tech Park. This area is more affordable compared to Hebbal with
property prices between Rs 3,000-4,000 per sq ft.
Devanahalli, is close to the international airport and is
well connected to North Bangalore. Large scale infrastructure development is
proposed around this stretch that would further enhance its appeal as an
investors’ destination. These include projects such as three proposed IT parks
in and around this region and a proposed four-lane state highway that would
connect this stretch to major parts of the city. Property prices are in the
range of Rs 3,000-4,000 per sq ft, with a few developments also priced at Rs
2,500 per sq ft. “An annual appreciation of about Rs 100-150 per sq ft has
already been witnessed and considering the proposed infrastructure, this trend
is expected to continue in the future as well,” stated N Krishna, Marketing
Executive, Kadam Group.
Source: MagicBricks.com Bureau
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