Sarjapur Road property market: An overview

[ecis2016.org] The demand for apartments in Bengaluru, has risen significantly, particularly along the peripheral areas, where the maximum growth is taking place. Sarjapur Road is one such zone, which is witnessing a boom in real estate. There is surging demand for residential spaces here, since it is one of the major thoroughfares of the city, and covers growing areas like Whitefield, Koramangala, Electronic City and many more

Demand for apartments in Bengaluru has experienced a revival, with the development of new growth corridors like Sarjapur Road, which is now the second most-preferred location in Bengaluru. It is easily connected to many other important zones in the city, such as Madiwala and Hosur Road. Sarjapur Road is also well-connected to the airport of Bengaluru.

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This area offers diverse property options, across different budget ranges. The property rates are reasonable and this is another reason behind the rise in demand. Leading developers, namely Puravankara, Sekhar Constructions, Sobha Limited, Salarpuria Group and Prestige Group, are active here, among others.

Infrastructure development of Sarjapur Road

Sarjapur Road experienced a meteoric growth, with the establishment of the Global Tech Village in Bengaluru, along with the establishment of the BMIC corridor.

The entire stretch also benefitted from the widening of roads and the announcement of the metro’s extension and the Outer Ring Road, which brought more citizens to this part of the city. The capital values are quite reasonable in the Sarjapur Road and the resident profile in the locality is changing fast, with rapid development. Big projects like Vaswani Presidio and Sobha Classic, are further changing the profile of the area.

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Employees and executives working in the government sector are the major buyers and residents here, along with the employees of small scale industries. However, professionals belonging to the IT sector are making major inroads into this area and the resident profile is therefore, transforming into a cosmopolitan one.

Here are some of the popular residential localities in this belt:

• Madiwala – This locality mostly has demand for affordable and mid-range residential property. It has experienced high growth in the budget housing space, owing to excellent connectivity with the Outer Ring Road, Hosur Road and the presence of many commercial and retail establishments here.
• Electronic City – This is another very prominent locality, which has benefited enormously due to easy connectivity and is well-planned in phases. This place also has several educational institutions. Electronic City has properties of different ranges, which cater to a wide range of customers and their needs.
• Whitefield – This area has experienced a surge in property prices, with many infrastructural developments and caters mostly to the mid-range category, although premium properties can also be found here.
• Koramangala – This area has affordable and mid-range housing options and is witnessing rapid development.

Connectivity with nearby Sarjapur Road localities

Demand for apartments in Sarjapur Road has shot up, owing to the connectivity advantages that it offers to its residents. Here are some of the key connectivity drivers:

• Radial roads connect it to commercial hubs like Koramangala and Bannerghatta.
• Well-connected to Hosur Road.
• NICE Road and Outer Ring Road are easily accessible.
• Bangalore University Road can also be accessed easily.

Employment hubs near Sarjapur Road

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

• Infosys SEZ Tech Park is located here.
• Wipro’s corporate head office is located here.
• Electronic City – 28 kilometres.
• Mysore Road – 16 kilometres.
• BMIC corridor.

Schools in Sarjapur Road and other social amenities

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

• Educational institutions – Indus International School, Oakridge International School, Silver Oaks International School and Inventure Academy.
• Shopping – Market Square Mall, Total Mall, Forum Mall, Gopalan Innovation Mall, Garuda Shopping Mall, Bangalore Central Mall, One MG Road Mall and many more.
• Hospitality – Octave Hotel & Spa, Treebo Orchard Greens, The Ritz-Carlton, The Leela Palace and Hotel Ibis.
• Hospitals – Dr Levine Memorial Hospital, Motherhood Hospital, Janani Hospital and Punarjani Ayurveda Hospital.
• Entertainment and recreation – PVR Cinemas Forum Mall, Gopalan Cinemas Innovation Mall and Galaxy Paradise Theatre.
• Restaurants – The Black Pearl restaurant, Fisherman’s Wharf and many more.

Physical infrastructure in Sarjapur Road

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Sarjapur Road’s real estate market will grow further, with several planned infrastructural developments, such as:

• Peripheral Ring Road.
• Proposed elevated expressway.

Price trends in Sarjapur Road

The average property rates in Sarjapur Road are around Rs 4,500-6,300 per sq ft, as per Q2 2016, although you will find residential spaces on the lower and higher side of this price bracket. The average annual appreciation is approximately 4%.

Reasons to invest in in Sarjapur Road

Buying your dream home in this part of Bengaluru can prove to be a smart move, going by the future growth potential of this area. There is ample supply of housing apartments in the region and it is expected to see a healthy appreciation of property rates, with the completion of the metro line, as well as other infrastructure developments. Demand will continue to be on the rise for properties in this region and it also makes for a good investment destination.

Connectivity, along with access to social infrastructure and competitive rates, are the main USPs. However, prospective home buyers may be a little disappointed by the slow pace of infrastructure development in this stretch of the city, along with poor road maintenance. Traffic congestion is also a perennial issue during the peak hours but this is bound to ease, with the upcoming developments.

Check properties in Sarjapur Road

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