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