Ever Appreciating Heritage Town

Admin December 19, 2015, 05:37 AM Heritage History - Yelahanka
it is only 14 kilometres from downtown Bangalore Heritage History

Presently known for its convenience to airport and host of aero shows and excellent suburbia; Yelahanka is Bangalore’s one of the oldest townships and was part of the Vijayanagara Empire. It is said, Kempegowda, the founder of Yelahanka built Bangalore fort and the Yelahanka Town in 1537 AD.

The name Yelahanka has gradually evolved from its original name Elavanka. This townships in Karnataka has a rich heritage and a history of more than 500 years.

The name Yelahanka is synonyms with the Defence base as it houses the Indian Air Force with a station and defence airport. The Border Security Force and the Central Reserve Police Force have their training schools for their troops and officers here. The training facility of Karnataka State Reserve Police is also present here. It has good connectivity with Bangalore's city centre. Several road and rail links, including a commuter rail between Devanahalli and Yeshvantpur via Yelahanka, makes this a well-connected and sustained locality.

THE EVOLUTION FACTOR

With the shift of new international airport to nearby Devanahalli, Yelahanka has caught the fancy of real estate developers and large scale construction activities started in and around the town which once was a leisurely suburb. Residential apartment prices have soared and demand for residential units have increased by leaps and bounds. Ever appreciating Yelahanka has good connectivity, the key roads being Yeshwanthpur road, Doddabalapur road and Bellary road. Presence of good social infrastructure with a number of multi-speciality hospitals, reputed schools and colleges and two lakes make it a favourable avenue to invest. It also houses a bunch of leading companies and export oriented units.

Since it is only 14 kilometres from downtown Bangalore and well connected to the city, properties are in high demand. The connectivity is expected to receive further boost once the whole metro rail project will be fully operative in Bangalore. All these make Yelahanka a desirable location for both end users as well as investors who can be certain of getting decent return on their investment in coming years.

UPBEAT RESIDENTIAL MICRO MARKET

Yelahanka and its close vicinity have about 33 Mnsq. ft. of residential development. Major share of development is seen in the main Yelahanka region which accounts to 19 Mn sq. ft. Following the Yelahanka region are the two other locations namely the Doddaballapur Road and Jakkur with a residential development share of 5.7 and 4.6 Mn sq. ft. respectively. The sizes include all types of residential development ranging from plots to villas.

Supply in mn sqft
”Yearly

A gradual increase has been noticed in the pattern of yearly launches in this northern region of Bangalore. The major reason for such increase in launches can be attributed to the functionality of the Bangalore International Airport. From 2010 there has been an uptrend in the yearly launches. Not many launches took place in the previous year.

Row House type of development does not have a strong hold in this part of Bangalore when compared to counterparts. It has the least share amongst others. Apartment development emerges as a winner with the highest share in the region. There is no scope for comparison, but the plotted and villa development follow the apartment development respectively.

Development Type
ticket price supply

Budget Homes in the range of INR 30-60 lakh are the highest in number in this region. Followed by budget homes are the Mid-range and premium category ranging between INR 60 lakh-1 crore and INR 1-3cr respectively.

Not many luxury category homes are seen in this region as compared to other categories and the number of units in them.

There are varied sizes available in Yelahanka ranging from 785 sq. ft. for a 1 BHK to the extent of 4350 sq. ft. for a 5 BHK. The basic minimal cost to buy a 1 BHK is INR 35 lakh. The most popular 2 and 3 BHK homes are available here for a ticket price of INR 56-81 lakh.

Jakkur proves to be the most expensive in this region on the basis of per sq. ft. rate. On an average an apartment here sells at a rate of INR 5021 per sq. ft. which is higher than the average of Yelahanka i.e. INR 4,456 per sq. ft. for an apartment.

Doddaballapur road has a pocket friendly rate of INR 2869 per sq. ft. for an apartment and INR 1083 per sq. ft. for a plotted development.

FUTURE

Due to its locational benefits of being present in the northern section of Bangalore and its proximity to the Bangalore international Airport, Aerospace SEZ around the Airport and a cluster of office spaces being developed along the road between airport and Hebbal, this region would be in high demand of residential realty market. It would also gain traction as it is about to house one of the biggest mall in town named “The Galleria”sizing 1 Mnsq. ft. This will attract a lot of footfalls in this region.

To add on to this location is the Metro phase III passing though the yelahanka region towards the Bangalore International Airport. It would link Nagavara to the Bangalore International Airport through Hebbal and Yelahanka which will considerably reduce the traffic. One more route of Metro would be from Peenya to the Airport via Yelahanka.

Yelahanka's evolution as a peripheral business district gave birth to a thriving residential real estate destination.



Recent Post