The Surge of Growth in North Bangalore

Admin November 19, 2015, 08:14 PM The Growth Factor - Hebbal
emerging as an IT Hub The Growth Factor

There was a time when Hebbal was outside the city limit on the north of Bangalore. This changed with the coming of the Bengaluru International Airport at Devanahalli in 2008 and Hebbal became an important transit point. Now Hebbal market has enriched because of 3 main factors being, proximity to IT hubs, spectacular infrastructure and proximity to Airport.

Formerly, before KIAL, Hebbal was known for not much more than the pristine Hebbal Lake. But the surge in growth necessitated a web of flyovers at Hebbal, connecting the Outer Ring Road and National Highway 7. With every company worth its label springing up in its vicinity, Hebbal gained prominence and was touted as a prime residential area.

Real estate development is rapid here, and it can be attributed to its connectivity to arterial roads and proximity to business clusters. Currently, this area is emerging as an IT Hub and is expected to grow further. It houses Embassy’s Manyata Business Park situated next to Nagawara Lake along Outer Ring Road which is one of the largest Business Park in Bangalore. Another major attraction is the proposed development of nearly 10,000 acres of land at Devanahalli, in the vicinity of the international airport which is named Information Technology Investment Region (ITIR).

The Infrastructure of Hebbal has linked roads well connecting it to different parts of the city. Hebbal is seamlessly connected with both Outer Ring Road and Bellary Road. These roads lead towards Hyderabad via NH-7. Moreover, with proposal of high speed rail link, Hebbal is expected to yield massive capital returns, since it will improve connectivity with the Bangalore Airport.

Expert View

The secretary of the Confederation of Real Estate and Developing Societies of India (CREDAI), Suresh Hari had seen quoting in a newspaper that, Hebbal is competing fairly well with areas like Whitefield, Sarjapur and Electronics city. “There has been the development of a very vibrant middle class in the area and most of them work in the IT sector. The fact that Manyata Tech Park is nearby prompts most people to buy property in Hebbal and close by places. The Special Economic Zone will fuel growth, too. In overall terms, we are looking at a region that will grow superfast.”

Residential Facts and Figures

Residential real estate activity in North Bangalore has gained traction post the commencement of the Bangalore International Airport.The massive residential development happening in Hebbal region has a total supply of 18.12 Mn sq. ft. Most prominent type of development in Hebbal is the Apartment development with 2, 3 & 4 BHK options. The Apartment development has a supply of 18 Mn sq. ft. in this region. The Apartment units here vary from a minimum of 925 sq. ft. to a maximum limit of 5200 sq. ft. in size.

Area Apartment Development
Supply in Mn sq. ft. Average Price per sq. ft.
Amruthahalli 0.4 4,200
Bellary Road 0.2 9,190
Dasarahalli 0.4 5,475
Hebbal 9.8 6,807
Nagavara Circle 1.9 5,730
Rachanahalli 0.5 4,565
RMV Extension 1.5 8,192
RT Nagar 0.7 7,450
Sahakar Nagar 2.3 5,575
Sri Rampura 0.1 4,500

Hebbal itself has the largest supply of Apartment units standing at a supply of 9.8 Mn sq. ft. Sahakar Nagar, Nagavara circle and RMV Extension follows Hebbal in the Apartment supply at 2.3, 1.9 and 1.5 Mn sq. ft. respectively.

The average price of Bellary road in close proximity to Hebbal region is higher when compared to any other area in this belt. The average price in Bellary road stands at INR 9190 per sq. ft. RMV extension stands at an average price of INR 8192 per sq. ft. Hebbal with the largest Apartment supply has the average price of INR 6807 per sq. ft.

Area Ticket price in Lakh
1 BHK 2 BHK 3 BHK 4 BHK
Amruthahalli 47.0 60.5
Dasarahalli 54.8 73.9
Hebbal 66.8 76.9 208.4
Nagavara Circle 72.2 96.4 298.0
Rachanahalli 62.4 75.3
RMV Extension 86.8 243.3
RT Nagar 60.3 88.7 93.2
Sahakar Nagar 51.6 61.6 214.4
Sri Rampura 82.4

A 2 BHK Apartment in Hebbal has a ticket price of INR 66.8 Lakh, a 3 BHK amounts to INR 76.8 Lakh and a 4 BHK costs INR 208.4 Lakh on an average. Due to the higher per sq. ft. cost, Bellary Road offers 3 BHK and 4 BHK Apartment units at an average ticket price of INR 317 Lakh and INR 367.6 Lakh respectively. Sahakar Nagar offers Apartment units at an average ticket price of INR 51.5 Lakh, INR 61.6 Lakh and INR 214.3 Lakh for a 2, 3 & 4 BHK Apartment respectively.

The Future

North Bangalore has being aggressively promoted by the Government as it accounts for the future economic activities. The planned Information Technology Investment Region (ITIR) near Devanhalli, Aerospace SEZ planned near the International Airport and the proposed Devanhalli Business Park are the key drivers for residential development in this region and with that comes increased employment.

Eyeing it from future perspective, the place is expected to welcome super-fast express train and phase III of the Namma metro in days to come. International Airport of Bangalore is also connected easily via Outer Ring Road, which is signal free, further enhancing the connectivity of the locality to other parts of the city.



Recent Post