Hosur Road property market: An overview

[ecis2016.org] The demand for apartments in Bengaluru is on the rise, especially towards the peripheral areas of the city, where the maximum growth is taking place. Hosur Road is one of Bengaluru’s major thoroughfares, which is experiencing a boom in the real estate sector, with a steadily rising demand for residential properties here. This is because, it is one of the most prominent localities of the city, connecting the rapidly-growing areas like Sarjapur Road, Koramangala, Electronic City and others

Hosur Road is a part of the National Highway 7, which links Bengaluru and Hosur Town. This is a four-eight lane highway with access control. There is also a 10-kilometre elevated highway, running from Madiwala to Electronic City. The BBMP and BDA have already planned several flyovers and underpasses, to make this road signal-free. The project is also a part of the BETL initiative. The road starts from Bommanahalli and goes till Electronic City. It also goes above the BMIC Flyover, which is the tallest in the city.

You are reading: Hosur Road property market: An overview

Demand for residential apartments in Bengaluru has seen a rise, with the development of new growth corridors like the Hosur Road, which is now one of the most-preferred residential locations in Bengaluru and connects many other important areas of the city such as Madiwala and Sarjapur Road. Hosur Road is also seamlessly connected to the international airport of Bengaluru. This region offers property options, which are diverse and cater to various budgets. The property rates here are competitive and this is another reason behind the rise in demand for residential spaces in the area.

Leading developers like Puravankara, Sekhar Constructions, Sobha Limited, Salarpuria Group and Prestige Group, are predominantly active here, among others.

Growth of Hosur Road

Hosur Road has experienced high growth, with the building of the Global Tech Village in Bengaluru, along with the establishment of the BMIC corridor. The entire region has also benefited immensely, from the widening of roads and the announcement of the extension of the Namma Metro, which also attracted more citizens to this part of the city. Capital values in Hosur Road have seen steady appreciation and are very competitive at present. Employees and executives belonging to the government sector, are the predominant home buyers and residents in this region, along with the employees of small scale industries. Professionals working in the growing IT sector, are also making major inroads into this region. The resident profile is therefore changing, with a more contemporary and cosmopolitan flavor being manifested in this part of the city.

Read also : CPWD endorses additional Rs 231 crores for Signature Bridge construction

Here are some of the popular residential zones near Hosur Road:

• Madiwala – This region mostly has demand for affordable and mid-range residential spaces. It has seen a high growth in the budget housing sector too, owing to excellent connectivity with the Outer Ring Road, Hosur Road and presence of several commercial and retail establishments.
• Whitefield – This part of Bengaluru has seen a significant increase in property prices, along with many infrastructural developments and caters mostly to the mid-range category, although premium homes can also be found here.
• Koramangala – Koramangala comprises of both, affordable and mid-range housing options for the home buyers and is seeing rapid development, as it is one of the busiest areas of the city.
• Electronic City – This is a very prominent locality in south Bengaluru, which has benefited hugely due to seamless connectivity advantages and is well-planned in phases. Electronic City is also home to different housing properties of various ranges.

Connectivity with nearby Hosur Road localities

The demand for apartments in Hosur Road has shot upwards, due to the connectivity advantages on offer for its residents. Hosur Road intersects with all the major arterial roads and junctions and thereby, offers excellent connectivity.

Here are some of the major connectivity boosters:

• Hosur Road is a part of the National Highway 7 and connects Bengaluru to Hosur district in Tamil Nadu.
• It is well-connected to the Outer Ring Road and Sarjapur Road.
• NICE Road and important areas like BTM Layout are easily accessible.
• HSR Layout is also well-linked to this area.

Proximity to employment hubs in Hosur Road

Here are some of the major employment hubs in the vicinity:

• Infosys SEZ Tech Park.
• Wipro Corporate Head office, located in Sarjapur, is easily accessible.
• Electronic City.
• BMIC Corridor.
• Koramangala, which is a major startup hub.
• Whitefield is another major IT hub.
• There are innumerable companies located in the stretch, from TVS Motor Co to Pearson Education to the Vodafone Corporate Office and more.

Schools in Hosur Road and other social amenities

Social infrastructure is a major booster, for the growth of Hosur Road, along with the IT corporate offices. Here’s taking a look at the same:

• Educational Institutions – SFS Public School ICSE, Baldwin Boys’ High School, Bluebell Public School and GVS English school.
• Shopping – UB City Mall, Total Mall, Forum Mall, Garuda Shopping Mall, Bangalore Central Mall and One MG Road Mall.
• Hospitality – JW Marriott Hotel Bengaluru, The Leela Palace and Hotel Ibis.
• Hospitals – Narayana Institute Of Cardiac Sciences, Live 100 Hospital, Sparsh Hospital and Health City.
• Entertainment and recreation – PVR Cinemas Forum Mall, Gopalan Cinemas Innovation Mall and Galaxy Paradise Theatre.
• Restaurants – Little Italy, Punjabi By Nature, Tharavadu Restaurant and many others.

Physical infrastructure in Hosur Road

Read also : Top 10 affordable localities for real estate in Chennai

Hosur Road’s real estate market will grow even more, with various planned infrastructural developments. Here’s a look at the upcoming physical infrastructure for the area:

• Peripheral Ring Road
• Proposed elevated expressway
• RV Road-Bommasandra metro line in Phase 2

Price trends in Hosur Road

The average property rates in Hosur Road remain suitable for budget housing, with the rates around Rs 5,000 per sq ft. You can also find residential spaces, at the lower and higher side of this average price. The average annual appreciation is approximately 4.3%.

Why invest in Hosur Road

Investing in a home in this area of Bengaluru, can prove to be fruitful, considering the future growth potential of this locality. There is a sufficient number of housing spaces here and it is likely to see a healthier appreciation of property rates, once the metro line is complete.

While connectivity and access to social infrastructure with competitive rates, are the key USPs, prospective home buyers may be a little saddened with the slow pace of infrastructural development. Traffic congestion is also a perennial issue during peak hours, but will gradually improve with the upcoming developments.

Check properties in Hosur Road

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle