KANAKAPURA ROAD

Admin November 19, 2015, 07:30 PM KANAKAPURA ROAD - History
affordable property values, improved connectivity to important places History

Located to the south of Bangalore, Kanakapura Road is placed on National Highway 209. The area is said to be a forest once and the backyard of nature, is today a concrete jungle. The Kanakapura Road stretch starts from Kalasipalya and leads up to Kanakapura town, previously known as Kanakanahalli Road.

From days, when only bullock carts were seen and few buses plied-to emerging as one of the prime locality in Bangalore, Kanakapura road has undergone a rapid change. The scene has transformed into one of the most sought-after areas that is bustling with activities. Kanakapura Road has everything to offer on a platter for its residents. It is attracting buyer’s interest as an investment destination. Real estate investors are increasingly eyeing this location for its affordable property values, improved connectivity to important places of the city and rapid infrastructural development.

Growth and Development

Many factors have led to the growth of Kanakapura road. Residential layouts and availability of land is one. When the residential localities in the south of the city such as Jayanagar and Banashankari could not cope with the influx of skilled workforce of the IT industry with the limited housing supply, Kanakapura Road seemed the most convenient micro market. Shopping centers and commercial activities as well came up with the residential development in this region.

Kanakapura road has turned into one of the most sought-after areas that is bustling with activities, with major developments like Krishna Leela Theme Park and dozens of hospitals, this road is home to educational institutes and a lot of international schools and colleges.Kanakapura Road has everything to offer, right from Engineering Colleges, malls, theme parks, adventure, resorts, to the spiritual touch.

Infrastructure

While connecting Kanakapura road to the NICE Ring Road has been one of the major steps towards improving the area’s connectivity. There are several other projects which are underway. Two of the major proposed infrastructural plans are the connectivity by Namma Metro and the Peripheral Ring Road.

This micro-market is accessible to the IT hubs on the nearby Bannerghatta Road, Sarjapur Outer Ring Road and Electronics City. In addition, the proximity to the well-developed JP Nagar, Banashankari and Jayanagar has facilitated the natural extension of the city into Kanakapura Road micro-market.

Analysis

Given the massive residential development happening on Kanakapura Road, this micro market has a total development size of 18.9 Mn sq. ft. The aggregate supply comprises of Apartment, Plot, Villa and Row House development.

TYPE Supply in Mn sq. ft.
Apartment 16.85
Plot 1.4
Row House 0.46
Villa 0.16

The Apartment development has the largest supply of 16.85 Mn sq. ft. in Kanakapura road stretch. There is no close competitor to the size of Apartment development in this region. Plotted development has a total supply of 1.4 Mn sq. ft. followed by Row House and Villa development at 0.46 Mn sq. ft. and 0.16 Mn sq. ft. respectively.

”Obstruction”/

Most prominent type of development in Kanakapura road is the Apartment development with 2 BHK and 3 BHK options. The Apartment units here vary from a minimum of 644 sq. ft. to a maximum limit of 3500 sq. ft. in size. Plotted development comes in the size range of 1500 sq. ft to 4000 sq. ft. Villa development has size ranges between 1150 sq. ft. to 3600 sq. ft. followed by Row House at a size range of 1690 sq. ft. to 3495 sq. ft.

Area Apartment Development
Supply in Mn sq. ft. Average Price as of July 2015
Banashankari 0.49 7100
Gubbalala 0.61 3940
Kanakapura Road 9.62 4505
Konanakunte 0.09 5000
Mallasandra 2.96 4540
Vajarhalli Main Road 3.09 4975

The average price of Banashankari region on Kanakapura road is higher when compared to any other region in this belt. With an average size of 1574 sq. ft. the average price in Banashankari stands at INR 7100 per sq. ft. With an average size of 1415 sq. ft. in Apartment development, the average price in Gubbalala is INR 3940 per sq. ft.

A 2 BHK Apartment in Kanakapura road has a ticket price of INR 38.3 lakhs, whereas a 3 BHK amounts to INR 51.8 lakhs on an average. Due to the higher per sq. ft. cost, Banashankari region offers 2 BHK and 3 BHK at an average ticket price of INR 92.5 lakhs and INR 114.4 lakhs respectively. Mallasandra region and Vajarhalli Main Road has on offer Apartment units at an average ticket price of INR 48.7 lakhs and INR 53.9 lakhs respectively for a 2 BHK and upto INR 65 lakhs for a 3 BHK Apartment.

Plots on Kanakapura Road are available at an average rate of INR 4875 per sq. ft. Villas and Row Houses offering 2-4 BHK units in this region are available in size range of 1690 sq. ft. to 3495 sq. ft. The average price of Villa and Row house in Kanakapura road is INR 3888 per sq. ft and INR 6890 per sq. ft. respectively.

The average ticket price for a 2 BHK villa in Kanakapura road amounts to INR 44.7 lakhs, whereas a 3 BHK and 4 BHK is priced at an average of INR 70 lakhs and INR 87.5 lakhs respectively. Being priced at a higher average of INR 6890 per sq. ft. a 3 BHK Row house in Kanakapura road is available at an average ticket price of INR 116.4 lakhs and a 4 BHK unit at INR 240.8 lakhs.

Future

In order to ease traffic along the stretch, NHAI has proposed to widen the 60ft wide Kanakapura road to a four lane road. Road widening will begin from the NICE road interchange and will end at Kanakapura. Road widening will substantially ease traffic and positively impact the image of the location. Growth prospects of Kanakapura Road location are fuelled by presence of NICE ring road connectivity and Outer Ring Road connectivity. The NICE Road on Kanakapura Road provides connectivity to major hubs including Electronics city & Bannerghatta Road in the South and Tumkur Road & Kengeri in the West.

The proposed phase II of Metro line continues to be on the median of Kanakapura road and traverse along the median of the road up to the Anjanapura Township (NICE Road Crossing). There are 5 stations namely, Anjanapura Road cross, Krishnaleela Park (ISKON), Vajarahalli, Talaghattapura and Anjanapura Township in this line.

All in all, Kanakapura is emerging as a hotspot and will remain as one for years to come.



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