Soaring real estate values are driving property buyers in
Bangalore to look at suburbs and satellite towns. One such growth corridor
where there is property on offer for every segment of the society is Yelahanka,
which offers a wide range of housing formats for the middle-income group.
Yelahanka, a suburb 15 km north of the city, was envisaged
as a satellite town but is now under the Bruhat Bengaluru Mahanagara Palike
(BBMP). Proximity to the new airport, which is 20 km away, has pushed real
estate values in this once sleepy area. In the last five-six years the area has
witnessed the launch of a number of housing projects which are completed now or
are on the verge of completion.
Out of the new projects will be deliver possession of units
within 2013. The starting price for projects in the area is Rs 30 lakh and goes
up to Rs 80 lakh, depending on the amenities and proximity to the main road.
Developers present on this stretch are Radiant Structures Pvt Ltd, Tata Housing
Development Company Ltd, GK Shelters Pvt Ltd, VH Shelters Integral Foundations,
Puravankara and Provident Housing Ltd. Most of these multi-storey apartment
projects offer 2 or 3BHK configurations. A small number of 4BHK apartments are also
in the offing.
“The area has seen growth over the last decade with big
developers constructing large complexes with modern amenities. Also, with the
nerve centers in the city getting beyond the reach of the masses, this
satellite town offers properties that come in the affordable price bracket,”
says Ajai Kapoor, a real estate service provider.
“Yelahanka is an upcoming area, centrally located between
old and new developments of Bangalore, surrounded by good international schools
and colleges, tech parks and upcoming SEZs,” says Guru Prasad, Proprietor of BK
Constructions, adding, “The area rides on connectivity to the international
airport and the proposed metro connectivity. These are huge drivers for
appreciation in real estate values in the area.”
Source: MagicBricks.com Bureau
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