The project expected to be ready by 2011 – It’s a well-known fact that the Whitefield market, that had showed signs of a slowdown a few months ago, is hotting up again, says Mr Farook Mahmood, FounderPresident, National Association of Realtors -India. Airport Road, Kaggadasapura, Whitefield, AECS Layout, Kasturi Nagar and Marathahalli.
Expected improvement in connectivity between Bidadi and identical peripheral areas of Bangalore, including the new international airport, will lead to sustained ‘realestate’ activity in the region in the coming years, says the report. Infrastructure growth is encouraging developers to commence new projects in select areas.
Prestige Group also has projects 32acre Prestige Oasis with 182 units/villas to be ready by 2011 and the 6acre Prestige Wellington Park with 482 apartments, to be completed by the year end coming up at Dodaballapur and Jalahalli respectively.
While upcoming townships, the fourlane State Highway connecting Mysore to the city, the upcoming BMIC project, existing industrial areas, and planned theme parks and resorts at Bidadi have contributed to the regions’ development, improved connectivity between Bangalore and Mysore has contributed to a gradual growth in residential developments in and around Bidadi. Other areas to look out for are localities around the Ring Roads and Bidadi.
Though the realestate market in Bangalore is witnessing a slowdown, look, there’re certain locations in the city that are buzzing with activity. With ‘highend’ villas and a golf course set against the backdrop of the Nandi Hills, obha Developers’ Sobha Lifestyle a presidential villa project spread across 55 acres with 165 villas in Devanahalli. Tieup with Marriott International, quite a few premium residential developments in north Bangalore, recently completed or coming up, include Bearys Group’s Lakeside Habitat a ’25storey’, 106apartment, ‘twintower’ residential complex spread over three acres overlooking the Hebbal Lake. Nevertheless, the project expected to be ready by 2011, is now sold by invitation only. It’s because of infrastructure development like the new international airport, the Bangalore Metro project, flyovers, underpasses and road widening activities, that are encouraging developers who anticipate a growth in demand.
Echoing this sentiment, real estate services firm Cushman Wakefield’s recent report says that despite rental depreciation in the eastern cluster of Marathahalli, Whitefield and Airport Road, demand should continue in these regions, especially in Whitefield.
With retail investors’ interest dropping, major buyers in today’s realestate market are the retail ‘end users’. Besides, measures taken to improve connectivity to the central business district, coupled with improved social infrastructure, have enabled Whitefield to become a ‘selfsufficient’ ‘micromarket’.
Prominent among these emerging markets is north Bangalore, where the new international airport is located. Plenty of feel that the hospitality, entertainment and logistics companies will find this area an ideal location, with the airport becoming operational soon.
Industry analysts predict that plenty of the city’s development could be in this region. Remember, the demand that is shifting towards retail, from bulk land parcels, says Mr Balaji, CEO, Propmart, an endtoend offline and online property solutions provider.
It also has plans for residential projects in Jakkur, Hennur and Hebbal, Mantri Developers is planning a super premium project in north Bangalore.
The projects are in the pipeline, not finalised yet, sources say. It also has plans for residential projects in Jakkur, Hennur and Hebbal, Mantri Developers is planning a super premium project in north Bangalore. Notice that the projects are in the pipeline, not finalised yet, sources say.