[ecis2016.org] Electronic City is India’s ‘Silicon Valley’ and one of Bengaluru’s most coveted residential destinations. It is one of the biggest IT hubs in the city and has close to 70 properties being constructed
The Electronic City real estate market has grown rapidly, on account of its rapid IT and commercial growth. The locality is home to some of the biggest and best companies in the ‘garden city’, along with reputed educational institutions. The IT boom in the 1990s, transformed the locality into the ‘Silicon Valley’ of the country. Demand for flats in Electronic City is always healthy, backed by IT professionals and other employees working in the locality.
You are reading: Electronic City property market: An overview
Electronic City has a distinctly cosmopolitan vibe to it. It is one of the biggest industrial parks in the country, spreads over 332 acres and comprises of three phases. The locality was established by Keonics and its chairman and managing director, RK Baliga. The electronic park was founded in 1978 and it steadily became one of the world’s biggest outsourcing hubs. There are more than 200 IT and ITeS companies located here. The area is well-managed by ELCIA and there is ample security and CCTVs all around. Transport facilities are excellent in the locality, with BMTC and BIAL buses plying here.
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The Biotech Park Helix has been a major development and has boosted the appeal of the locality even further. There are several stores, restaurants, banks and clinics in the area, along with reputed educational institutions. Demand for apartments in Electronic City also rose, due to the opening of the four-lane elevated highway between Electronic City and Silk Board Junction.
There are several residential projects being built by leading builders in Electronic City, including Prestige, K Raheja, Sekhar, Brigade, Mahaveer and many others. The locality lies only 18 kilometres away from the Bangalore City Centre. Other nearby Electronic City localities include Sarjapur, Silk Board and HSR Layout. Due to the presence of major IT corporate offices here, along with all necessary social infrastructure, Electronic City offers better appreciation potential, as compared to most of its neighboring localities.
Connectivity with nearby Electronic City localities
- Well-connected to the Bangalore City Centre, via Hosur Road.
- Excellently connected to other parts of Bengaluru, such as HSR Layout, Kammanahalli, Bommanahalli and Bilekahalli.
- Well-connected to the Sarjapur ORR.
- Electronic City is strategically connected to the Kempegowda International Airport (about an hour’s drive).
- BMTC bus network connects area to several other parts of the city.
[ecis2016.org] Property rates & trends in Electronic City, Bengaluru
Proximity to employment hubs in Electronic City
- Well-connected to the Kalyani Tech Park and ITPL.
- Koramangala is also at an easily reachable distance (12.6 kilometres).
- Companies present in the area – Wipro, Tech Mahindra, Hewlett-Packard, L&T Infotech, Infosys, HCL Technologies, Siemens, Patni Computer Systems, CGI, Siemens, Tata Consultancy Services, Genpact, Intel and many others.
Electronic City boasts of excellent social infrastructure. Reputed schools in Electronic City include the Bethany High School and the Frank Anthony Public School. Leading hospitals in Electronic City include the Fortis Hospital and the Columbia Asia Hospital. Popular malls in Electronic City include the Forum Mall and Royal Meenakshi Mall, to name a few.
Developing physical infrastructure in Electronic City
- The 8-lane Ring Road will serve to decongest traffic in the entire corridor.
- The Namma Metro line, which is under construction from RV Road to Bommasandra, will pass through Electronic City.
Price trends in Electronic City
- Price appreciation – 13%-14% over the last couple of years.
- Current property rates – Rs 2,100-5,400 per sq ft.
Reasons to invest in Electronic City
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Considering the price trends in Electronic City and all the above factors, demand for residential spaces is slated to rise even further. The current rates are quite reasonable and there are diverse housing options, for investors in the locality. Projects like Godrej E-City are coming up here, on the back of skyrocketing growth.
There are some teething issues, including drainage facilities which are yet to be fully developed. Additionally, one might face a problem with potholed roads. Traffic congestion due to the presence of leading companies here, is another major issue. However, overall, Electronic City makes for a great investment proposition.
Check properties in Electronic City
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
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