Soaring real estate values are driving property buyers in Bangalore to look at suburbs and satellite towns. One such growth corridor where there is property on offer for every segment of the society is Yelahanka, which offers a wide range of housing formats for the middle-income group.
Yelahanka, a suburb 15 km north of the city, was envisaged as a satellite town but is now under the Bruhat Bengaluru Mahanagara Palike (BBMP). Proximity to the new airport, which is 20 km away, has pushed real estate values in this once sleepy area. In the last five-six years the area has witnessed the launch of a number of housing projects which are completed now or are on the verge of completion.
Out of the new projects will be deliver possession of units within 2013. The starting price for projects in the area is Rs 30 lakh and goes up to Rs 80 lakh, depending on the amenities and proximity to the main road. Developers present on this stretch are Radiant Structures Pvt Ltd, Tata Housing Development Company Ltd, GK Shelters Pvt Ltd, VH Shelters Integral Foundations, Puravankara and Provident Housing Ltd. Most of these multi-storey apartment projects offer 2 or 3BHK configurations. A small number of 4BHK apartments are also in the offing.
“The area has seen growth over the last decade with big developers constructing large complexes with modern amenities. Also, with the nerve centers in the city getting beyond the reach of the masses, this satellite town offers properties that come in the affordable price bracket,” says Ajai Kapoor, a real estate service provider.
“Yelahanka is an upcoming area, centrally located between old and new developments of Bangalore, surrounded by good international schools and colleges, tech parks and upcoming SEZs,” says Guru Prasad, Proprietor of BK Constructions, adding, “The area rides on connectivity to the international airport and the proposed metro connectivity. These are huge drivers for appreciation in real estate values in the area.”
Source: MagicBricks.com Bureau