Real Estate Growth in Hosur Road

Hosur Road is an extremely efficacious and lengthy four to the eight-lane highway that runs through National Highway 7. This road beginning at the Vellara Junction on Richmond Road winds through Koramangala and Silk Board. It also runs throughout the way upto the border town of Attibele in the Krishnagiri district of Tamil Nadu. The villages of Singasandra, Bommanahalli, Chnadapura, Singasandra, and Attibele which once held the status of outskirts vicinity, now fall within the developing belt of Hosur Road, which brings in the movement, growth, and progress to all these areas. The growth of Electronic City as a massive IT hub is responsible for the development of Hosur Road also. This in turn creates a brand new and highly equipped commercial and residential market. Further, the construction of the elevated highway that connects Electronic City to Madivala contributes to the evolution and expansion of this area. Apart from this, it is also responsible for an initial insurgence in traffic, the construction of the peripheral road has served a much easier commute for all the residents. There are a plethora of residential complexes that have sprung up on either side of the highway, for instance, banks, ATMs, eateries, fitness centers, and departmental stores that are serving with a complete living experience that caters to the requirements of the residents. Although, the professionals who are equipped in working in the IT or ITeS industry were the target of this area. The thing that attracted hordes of people from a multitude of professions is the great connectivity, continued development of infrastructure, and affordable property rates. There are a majority of people who are eager for investing in 2 BHK residential apartments in Hosur Road for sale for a wide range of reasons: good means of transport to important locations of Bangalore, better resale value, and better value appreciation.

Connectivity and Transit Points

Hosur Road is well-versed with great accessibility and connectivity which in turn makes it a thriving locality that is gaining a huge amount of popularity. Hosur Road is situated in proximity to Baiyappanahalli which is the terminal point situated on the east-west corridor of the Namma Metro that facilitates the arrival at prime destinations such as M. G. Road and Indira Nagar within minutes. Bangalore City Junction which is the main railway station in the city of Bangalore is situated at a distance of only 9 km away and is also accessible through auto rickshaw or taxi services. Traveling from Electronic City by road to the already established residential localities such as BTM Layout, Koramangala, and Taverekere is just 12 km away which will become an extremely hectic journey for the residents. But, the newly constructed elevated 11-km tollway serves direct access to Electronic City by efficiently reducing the time of travel. Bus stands at Madivala and Central Silk Board are also in proximity. BMTC busses that pass through these bus stops take the commuters to the prime areas such as Shivaji Nagar, Majestic, Shanti Nagar, and other parts of the city. The Kempegowds International Airport is situated approximately at a distance of 40 km away from Hosur Road (Vellara Junction). It is also extremely easily accessible through KIA with a frequency of half an hour.

Major Landmarks

Neeladri Amusement Park Bangalore Aquarium Ragigudda Anjaneya Temple Hockey Stadium Gandhi Bazaar

Factors for Growth in the Past

Because of the recent IT boom in the city along with the initiatives by authorities for the improvement of civic infrastructure, this area has expanded horizontally and linearly. This area has got extremely easy accessibility that in turn is drawing a large number of people due to the massive array of service roads and by-lanes along the highway along with the construction of the elevated tollway. Stagnant growth and saturation in the Central Business District (CBD) of Bangalore have also transformed the development and expansion of this belt, with old landmarks, for instance, the Bhandary Steel factory and MICO factory that are being converted into residential complexes. Because of the proximity to Electronic City from Hosur Road, this locality has seen the development of budget apartments for housing the constant influx of IT professionals who give preference to living close to work.

Residential & Commercial Market

Hosur Road is catered primarily to the requirements of the ever-enhancing IT population that flock to this locality, entirely with large multistory apartment complexes along with smaller budget BHKs. Currently, the sale price for residential apartments in Hosur Road ranges between Rs. 3,700 to Rs. 4,000 per sq. ft. Apart from this, the cost for builder floor apartments oscillates between Rs. 3,350 and Rs. 3,800 per sq. ft. There are fewer residential plots in this area the cost of which ranges from Rs. 11,300 to Rs. 16,800 per sq. yd. If you are planning to rent your apartment, it might serve you anywhere between Rs. 13 to Rs. 20 per sq. ft. which facilitates highly affordable living.

Major Challenges

Never-ceasing traffic is one of the major challenges that are faced by the residents around Hosur Road. Not only this, even during normal hours, it creates traffic snarls that in turn poses a danger to pedestrians. Other major problems are including improper waste disposal, petty thefts, and poor lighting.

Factors for Growth Shortly

Authorities have proposed a 'skywalk' to be constructed at the Forum junction of the road that is replete with a lift and an escalator for tackling the complication of safety faced by the pedestrians in the locality. The Master Plan 2015 of civic authorities propounds the widening of Hosur Raod from its original 30 m to a solid 45 m, that extends to the Silk Board. This in turn will improve the accessibility to the busy bus terminus of the Central Silk Board that facilitates further enhancement in the real estate boom. There are a large number of IT giants that are planning for establishing their offices on this belt. This in turn will add a further impetus for developing housing complexes.

Good Office Rental Yields
The price of commercial property range from Rs. 4,500-Rs. 8,000 is based on the type of property along with amenities that are available within the building. The yield from a rental property in Electronic City varies from 3.5% to 4.2% which in turn makes it one of the top rental yield markets in Bengaluru. A Massive Array of Housing Options
A favorable confluence of factors, for instance, ample new supply in Electronic City because of massive tracts of land, affordable prices of real estate property with high consumer demand, and a plethora of housing alternatives across segments have boosted the ante of this micro market. This area has emerged as a paradise for buyers based on the price range, attractive rental trends, types and size configurations, and availability of properties across segments.
Major IT Hub
Over the last few years, Electronic City one of the major IT hubs in Bengaluru has witnessed massive real estate development. It is house to myriad IT majors, for instance, HCL, Infosys, Wipro, and Siemens, to name a few.
Good Connectivity
The backdrop of Hosur Road is well-versed with good connectivity via Expressway and Hosur Road to other prime areas of the city. It is also extremely easily accessible to the NICE corridor. Moreover, this area has become a bit self-sustained with the opening up of a plethora of retail and entertainment outlets.
Reputed Real Estate Developers
Major players, for instance, Raheja Group, SNN Builders, Brigade Group, and Salarpuria Sattva are already active in this micro market- it is a fact that has worked very well from an entire profiling perspective. One of the major USPs of Electronic City is affordable property pricing. Over the last three years, the prices of property have enhanced in Electronic City by about 5 to 7%. On contrary, the price of the properties in its counterpart Whitefield is within the range of Rs. 4,500 to Rs. 6,100 per sq. ft. Being a major IT belt, Electronic City has attracted a massive array of professionals who give preference to residing in the proximity of their workspace. According to ANAROCK data, from 2015 to date as many as 16,630 new residential apartment units have been launched in Electronic City. The most preferred configurations are 2 and 3 BHKs with sizes that range between 950 to 1,250 per sq. ft. and Rs. 1,375 to Rs. 1,800 per sq. ft respectively. Electronic City over the years has become a self-sustaining and thriving micro market that has a wide range of residential options across segments that are coupled with myriad entertainment and retail options.

Boosts in Infrastructure
The widening of Hosur Road along with the construction of an elevated corridor to Electronic City is further responsible for enhanced residential property traction here. Those locations that are essentially covered by Hosur Road are including Singasandra, Kudlu Gate, Begur, and Electronic City which have witnessed massive real estate activity owing to enhanced connectivity through the main Hosur Road along with the elevated expressway. Residential activity has primarily developed in the first three locations. Meanwhile, Electronic City has witnessed both residential and commercial activity. The 10-km Hosur Road Elevated Expressway along with the widening of Hosur Road has had a positive impact on the real estate market of localities along this road that goes throughout the way to Hosur town in Tamil Nadu. The expressway beginning from Bommanahalli near Silk Board Junction that goes up to Electronic City has significantly decreased the commute time to Electronic City. It has also enhanced the realty prospects of this major IT hub.

The proposed yellow line of the Namma Metro project (R V Road- Bommasandra line) will further boost its community in major areas of the city. In this way, it will further propel the real estate activity on the back of the generous availability of land. The proposed Hosur Airport, which is an Udaan project will also enhance the real estate activity in the vicinity. On the other hand, NICE Road which is the 63-km, 6-lane, access-controlled tollway already connects Electronic City to other prime areas in the city of Bangalore such as Mysore Road, Bannerghatta Road, Tumkur Road, and Kanakapur Road.

Development of Commercial Real Estate
The IT or ITeS has been a prime influencer for the real estate sector in the city of Bangalore. Electronic City is a micro market that is equipped with the presence of a considerable IT industry. Electronic City that is comprising three phases is a major IT hub that hosts more than 200 IT companies that are comprising HCL, Wipro, Tech Mahindra, and Biocon, among others. This area earlier was equipped with only commercial developments with most of the population that indulged in working in Electronic City and that is residing in areas, for instance, HSR Layout, Koramangala, and BTM Layout. When ample availability of land is coupled with affordable prices of the real estate property, it attracts massive corporate houses to the area. Infosys, in the year 2017 bought 3 acres of land for the expansion of their existing base. Hosur Road is also majorly popular for its automobile stores that comprise Nexa, Maruti, BMW, Hyundai, Renault, Toyota, Mahindra, Audi, Tata Volkswagen, Isuzu, etc.
Thriving Retail Sector
When it comes to the burgeoning IT population within the micro market, there are myriad alternatives and eateries that have also opened up. Meanwhile, the region is still waiting for the Neo Mall which is the largest mall in the entire city. Over the last year in its precincts, a plethora of high street retail options have mushroomed at Neelandri Road in Electronic City. Various eateries have also opened their doors in this micro market besides major shopping outlets that are comprising FabIndia and Brand Factory among others. These comprise a plethora of fine dining restaurants, for instance, Lemon Tree, Barbeque Nation, Golden Tulip, Radha Regent, Fire Station, and multiple small eateries. Mostly, the micro market comes with local retail stores. Meanwhile, the surrounding areas of Hosur Road are well-versed with a plethora of neighborhood retail stores that are catered to the large segment of the population residing here. D-Mart, Metro Cash, Carry, More Supermarket, Stanley Global Living, Emporio, etc. are some of the other prominent stores. Apart from this, there are also a large number of food joints in this locality that vary from Indian to continental foods. In this area, some of the known food joints are Subway, Cafe Coffee Day, Frozen Bottle, Burger King, Pizza, Domino's Pizza Hut, KFC, McDonald's, Beijing Bites, etc.
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