[ecis2016.org] Hebbal is one of Bengaluru’s rapidly-growing regions and has been giving an average annual return of 18%-19% as per estimates. Hebbal currently has more than 50 projects under construction and lies near areas like RT Nagar, Hennur and Yelahanka
The Hebbal real estate market has grown considerably, as this place is an assembly constituency area in the city and also because of nearby IT hubs. Hebbal has witnessed a transformation, since the IT industry boom in the 1990s and also after it was included under the Bruhat Bengaluru Mahanagara Palike. Demand has risen fast for flats in Hebbal and the area is now more cosmopolitan than before.
You are reading: Hebbal property market: An overview
Hebbal was once referred to as the northern limit of Bengaluru. The Hebbal Lake is a major landmark here and the development of several flyovers, linking to the Bellary Road and Outer Ring Road, have boosted development here. The region has a park and boating facilities in the lake, along with bird watching opportunities. The L&T factory was established in the 1970s and this gave a fillip to Hebbal.
All roads lead to the BIAL link at Hebbal. Additionally, the development of residential projects, like Sobha Petunia and Raintree Boulevard, have given a fillip to development. When it comes to apartments in Hebbal, there are many available options, although 2 and 3-BHK are the preferred configurations here.
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There are several prominent real estate builders in Hebbal including Puravankara, Prestige, Sekhar, Sobha, Godrej, Brigade and many others. While this locality is still a good option for affordable and mid-range housing, the neighboring areas like Yelahanka also cater to the mid-range of the market. Other nearby Hebbal localities include Outer Ring Road and Banaswadi. Hebbal is often regarded as a good bet, due to its connectivity and social infrastructure.
A whopping 9 million sq ft of commercial space, has already been taken up by leading developers and this includes an IT SEZ and several other commercial establishments. BIAL also has a major developmental plan for the area, which will be implemented soon. Hebbal shot into the limelight after 2008, when BIAL started functioning. The signal-free Outer Ring Road passes right through the Hebbal Junction.
Connectivity with nearby Hebbal localities
- Well-connected to the other parts of the city, via the Hebbal railway station.
- Excellently connected to the rest of Bengaluru, through the Outer Ring Road, which connects it to Hennur and Jakkur.
- Well-connected to National Highway 7.
- Hebbal is just 20 kilometres away from the Kempegowda International Airport (about 20 minutes’ drive).
- BMTC bus network connects the area to several other parts of the city.
Proximity to employment hubs in Hebbal
- Embassy Manyata Business Park – 4 kilometres via 3rd Main Road.
- Koramangala – 16.6 kilometres via Hosur Road.
- KIADB Industrial Area – 17 kilometres via NH 75.
- Companies in the area – Shell, BEML, Tyco, Wipro Fixtures, National Seeds Corporation and more.
Hebbal boasts of good social infrastructure. Reputed schools in Hebbal include the Vidya Niketan School, Jain Heritage School and Sindhi High School Hebbal. Leading hospitals in Hebbal include the Bangalore Baptist Hospital and the Columbia Asia Hospital. Popular malls in Hebbal include the Esteem Mall and Mega Mart, to name a few.
Physical infrastructure in Hebbal
- The second phase of the Namma Metro is likely to cover Hebbal. The metro from Silk Board to Hebbal will pass through the locality.
- The 8-lane Peripheral Ring Road, will help to decongest traffic in the entire corridor.
- The steel flyover on Airport Road, will be extended beyond Hebbal and integrated with the Expressway Flyover commencing near Esteem Mall.
Price trends in Hebbal
- Price Appreciation – 10%-11% over the last couple of years.
- Current property rates – Rs 4,409-7,745 per sq ft.
Reasons to invest in Hebbal
Taking into account the price trends in Hebbal and all the factors mentioned above, the demand for residential property in this region is likely to increase substantially in the future. The property rates are quite competitive.
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Major developments, like premium residential projects and the Hinduja mixed-use IT Park near the Hebbal Flyover, will boost rates in the future. This project will include a 3.8 million sq ft IT SEZ space, along with a mall, offices, serviced apartments and a hotel.
Hebbal makes for a good area to invest in, considering its connectivity and future prospects. However, there are some teething problems when it comes to drainage, water supply and garbage disposal, which is primarily due to the population explosion here.
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Source: https://ecis2016.org
Category: Lifestyle
