Land values go up by 80 per cent in Hoskote

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Once known as a sleepy hamlet, Hoskote aka Neo Bangalore is witnessing high real estate activity today. The area which is located on the Bangalore-Chennai highway NH 4 comes under the limits of the main city.

Infra development: Intermediate Ring Road (IRR) connects the area to the rest of the Bangalore city. BMTC bus depot was recently inaugurated in Hoskote. Apart from this, the Karnataka government has proposed Satellite Township Ring Road (STRR) that will connect the locality with important satellite towns in and around Bangalore.

Land values: The infrastructure initiatives have impacted the real estate values in the locality. John Rozerio, Business Development Officer, JP Real Estate says, “The land value in this area has seen almost 80 per cent of appreciation in the last one year. The plots that were sold at Rs 1,000 per sq ft a year ago, today are available for not less than 1,800 per sq ft.”

Connectivity: Hoskote enjoys good connectivity with the Railway Station and International Airport. “It is about 25 kms from the airport through Budigere road which is a 30 minute drive. Also the KR Puram railway station is 20 minutes away. It is about is about 12 km from IT hubs such as Whitefiled and ITPL,” says Venkate Gowda of BLR Spaces.

Apart from this, Hoskote is about 10 km away from Byappanahalli that offers metro connectivity to MG Road. The proposed 6-lane highway that will connect Bangalore and Chennai starts at Hoskote.

Commercial set ups: Hoskote has evolved as an industrial area with major auto manufacturers and ancillary industries. Over 400 Japanese companies have set up shop along this belt. The other reason for rise in residential values and demand is Narasapura in Kolar district at a distance of 15 km from the locality. It has been declared an auto hub of the state and houses Volvo and Honda factories. Apart from this, Rozerio says “the State Government has taken up 2,000 acres of land to develop IT industry. This is about 3 kms from Hoskote and will be a major contributor in growth of the residential real estate market here.”

Neha Nagpal, Bureau