[ecis2016.org] Old Madras Road is one of Bengaluru’s fastest-developing localities, owing to its connectivity, as well as proximity to major business areas of the city. Old Madras Road currently has several new and upcoming residential projects and lies near areas like KR Puram and Whitefield, where the property rates are higher
The Old Madras Road real estate sector has seen some major activity, due to the presence of some of the biggest IT parks, close-by. As a result, rapid and steady rise in the demand for flats in Old Madras Road has been observed, with this area turning into a multi-cultural zone, owing to a large number of expats and migrants who have come to Bengaluru for work.
You are reading: Old Madras Road property market: An overview
Demand for different kinds of apartments in Old Madras Road has been witnessed, although 2 and 3-BHK are the most preferred configurations. Some of the leading builders in Old Madras Road have developed prominent projects in Old Madras Road like Nitesh Virgin Island and Purva Midtown, to name a few.
While Old Madras Road is still a good bet to invest in affordable to mid-range housing, neighbouring KR Puram caters mostly to the higher end of the market, since its property rates are on the higher side. Other nearby Old Madras Road localities includes Byappanahalli and ITPL. Due to the proximity to ITPL or ITPB along with all necessary social infrastructure, Old Madras Road offers a lot of scope for appreciation in rates, as compared to most of its neighbours.
Connectivity with nearby Old Madras Road localities
- 6 kilometres away from KR Puram railway station.
- Excellently connected to Whitefield, which is less than 5 kilometres away.
- Well connected to State Highway 35.
- Old Madras Road is located 41 kilometres away from the Kempegowda International Airport.
- BMTC bus services connect this area to all other parts of the city.
Employment hubs near Old Madras Road
- Embassy Manyata Business Park – 12.4 kilometres via NH-44 and NH-75.
- Koramangala – 8.8 kilometres via 100-Ft Road.
- International Tech Park (ITPB) – 10.2 kilometres via Whitefield Main Road.
- KIADB Industrial Area – 8.8 kilometres.
- Electronic City – 21.2 kilometres via 100-Ft Road and Hosur Road.
- Whitefield – 14.1 kilometres via Varthur Main Road and Suranjan Das Road.
- Wipro Corporate Office – 6.7 kilometres via Swami Vivekananda Road and MG Road.
There are reputed schools in Old Madras Road like the SSB International School and Sri Chaitanya Techno School. Leading hospitals in Old Madras Road include the Government Hospital, ESI Hospital and Sathyasai Lakeside Orthopedic Hospital. Popular shopping malls in Old Madras Road include the Gopalan Cinemas and Gopalan Signature Mall, to name a few.
Upcoming physical infrastructure in Old Madras Road
- The second phase of the Namma Metro will cover Old Madras Road. The Purple Line from Byappanahalli, is planned to be extended to cover this area.
- The 8-lane Peripheral Ring Road will also make the traffic conditions better in the entire area.
Price trends in Old Madras Road
- Price appreciation – 2%-4% over the last quarter.
- Current property rates – Rs 3,179-5,612 per sq ft.
Reasons to invest in Old Madras Road
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Considering the current price trends in Old Madras Road, there is ample scope for future appreciation. Easy access to almost all major business hubs and IT zones in Bengaluru, along with excellent social infrastructure and overall connectivity, make this a coveted residential stretch. The upcoming metro network phase, will also boost growth. Traffic snarls and congestion in peak hours, is a major issue in this stretch, along with poor roads and potholes in some parts.
Check properties in Old Madras Road
Source: https://ecis2016.org/.
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Category: Lifestyle
