THE TIMES OF INDIA | BENGALURU | THURSDAY | NOVEMBER 27, 2014

ational stations of the Metro

up to Peenya Industry have
further improved connectivity and are drawing homebuyers here.
Naveen explains, "Due to the
proximity to Hebbal, Yeshwantpur and the airport, residential demand has spilled
over to Jalahalli, where the residential capital values are relatively on the lower side. The
completion of a signal-free
ORR in 2002 enhanced the connectivity of this area to the
rest of city. In the future as
some industries move out from
Jalahalli towards the outskirts
of the city, more land will be
available for residential and
other uses."
The operationalisation of a
major IT park at Hebbal, within 3-4 km from Jalahalli, led to
some IT/ITeS professionals
scouting for residential options in Jalahalli also.

JALAHALLI

INDUSTRIAL BELTS
PUSH DEMAND
FOR HOMES

HEBBAL MAIN ROAD

SUSTAINABLE DEMAND FOR

RESIDENTIAL PROPERTY
Connectivity to
the IT hubs
through the
ORR, proximity
to the airport and
commercial
centres in the
north have led to
more residential
developments
here

Options and pricing

Joe Louis D'anto

Connectivity
through the
Metro, ORR and
Tumkur Road, and
commercial and
retail uptake
have led to
development here
Sai.Prasanna1
@timesgroup.com

alahalli is located on the

north-western part of
Bengaluru
between
Peenya Industrial Area and
Yeshwanthpur towards the
north-west and Yelahanka and
Vidyaranyapura, both towards
the north. The presence of the
airforce base in Jalahalli, government body - National Academy of Customs and Narcotics
and public sector undertakings (PSUs) such as Bharat
Electronics Limited (BEL)
make this area prominent.
Civic infrastructure
Jalahalli is well-connected
to the rest of the city through
road network - Outer Ring
Road (ORR) and NH4-Tumkur
Road - as well as the Metro.
Reach IIIB of the Green Line,
from Peenya Industry to Nagasandra with stations at Jalahalli and Dasarahalli is expected to be complete by the
year end. This will enhance

connectivity to the industrial

areas from the residential
hubs in the west while pushing development in areas connected.
Commercial and
retail uptake
Tumkur Road provides connectivity to Peenya Industrial
Estate and Nelamangala, both
of which are important growing areas and are expected to
accommodate more industries
in the future. According to research by Cushman and Wakefield, Hebbal and Yelahanka in
the northern sub-market have
nearly 10.3 million sqft of office space operational and
nearly 5.3 million sqft of office
space will be operational in
2015. Naveen Nandwani, Executive Director, Cushman and
Wakefield, says "Jalahhalli
will thus continue to cater to
the future residential demands
of the people employed in the
industrial estates as well as the
IT/ITeS sector in the nearby
areas."
Apart from a prominent
mall located in Hebbal, recently, a mall with shopping
centres, entertainment and
dining, located in Yeshwantpur became operational. Both
the malls are located within a
3-4 km radius of Jalahalli and
will cater to the needs of residents. New BEL Road has also
come up as a prominent high
street.
"Two malls situated on
Tumkur Road and in Yelahanka are currently under-

construction and will be completed by 2015, increasing the

retail options for the inhabitants of Jalahalli. Retail and
commercial infrastructure in
Yeshwantpur, Hebbal and Yelahanka, near Jalahalli, are expected to develop further, thus
benefitting the residents here,"
he says.
Connectivity spurs
demand for homes
Jalahalli is one of the greener pockets of the city and is
well-connected to the rest of
the city through Tumkur Road
and the ORR. The newly oper-

Shabeer Sait, Executive

Head of Operations, Irshad's
Property Matters, says, "Jalahalli is mainly dominated by
mid-segment and affordable
housing options. Capital values of residential options are
in the range of Rs 3,000-6,000
per sqft."
Research by Cushman and
Wakefield reveals that nearly
2,500 residential apartments
are currently under-construction in this location and nearly 600 units are in pre-launch
stage. Most of the projects
cater to the affordable and midsegment, and command capital values in the range of Rs
2,800-3,800 per sqft. However,
there are a few mid-segment
projects commanding higher
capital values of Rs 4,000-5,000
per sqft. Among the under-construction projects, more than
50 percent are three-bedroom
units, nearly 37 percent are
two-bedroom units and rest are
one-bedroom units.

Sai.Prasanna1
@timesgroup.com

ebbal Main Road is

one among the locations in the north that
is buzzing with activity. This
can be attributed to such infrastructure development
such as flyovers, underpasses, road-widening projects
and also growth in commercial and retail activities. In
addition, industrial initiatives by the Karnataka Industrial Areas Development
Board (KIADB) in north
Bengaluru, including the Apparel Park, the Hardware
Technology Park and the
Aerospace Park, are all likely to fuel real estate growth.
The biggest fillip to this
area came with the setup of
the Hebbal flyover which
connected the north to the
south as well as to the east
and west through the Outer
Ring Road (ORR).

LOCALITY SNAPSHOT

Mixed use developments

on the rise
Statistics with Cushman
and Wakefield indicate that
Hebbal has seen major commercial office space developments with close to 10 million sqft of office space currently operational.
According to Shabeer Sait,
Executive Head of Operations, Irshad's Property Matters, "There is a lot of activity happening here - office,
retail as well as residential.
Developers are putting up
projects right up to Jakkur.
There are several Grade-A
office spaces on Hebbal Main
Road. Around four to five
mixed development projects
will add, on an average,
around one million sqft of
commercial space up to
Jakkur, over the next two to
three years."
Retail, as part of mixed development projects, will
come to around 0.80 million
sqft on the main road. Off
the main road, two township
projects are under construction and will take
around six years to be ready.
Explaining the popularity of mixed development

LIVING in north Bengaluru where once we

had very few amenities and fewer options
for shopping and entertainment is now
developing well. It's good to see the Metro
rolling out at a faster pace. This will make
visiting multiplexes for shopping and eating
out easier, especially during peak traffic hours.
Jalahalli is where a lot of action is taking place.
Pradeep Gururaj,
Senior delivery manager in an IT company

Connectivity has
brought Tumkur
Road into the
limelight. With the
improved highway,
upcoming Metro
connectivity and
the NICE Ring
Road link, this belt
is witnessing
increased
residential activity
Sai.Prasanna1
@timesgroup.com

umkur Road (NH-4) is

the main link from the
city towards Tumkur
and onward towards Mumbai.
Beginning just after Yeshwanthpur, this road is set to
emerge as a key growth corridor in the north-west,
thanks to the proposed Bengaluru-Mumbai Industrial
Corridor (BMIC) and the
upgradation of the highway
leading to Nelamangala. Its
strategic location from the airport is also leading to development in the Tumkur Road
belt.
The BMIC will impact the
industrial activity positively
along Tumkur Road, transforming it into a growth corridor in terms of residential,
commercial and industrial infrastructure.

NOTE: The distances mentioned are approximate and taken from the nearest point
to the destination. The property values mentioned are indicative and vary based on
exact location and property attributes.

Metro advantage
for locations
The Metro Rail will benefit
locations in the west and further growth. Yeshwanthpur,
Jalahalli, Tumkur Road, Magadi Road, Abbigere, Vidyaranyapura, and Nelamangala are benefiting from Metro
connectivity.
Good social fabricants such
as schools, hospitals and malls
are other factors that turn a
location into a residential hub.

RESIDENTIAL
REALTY GATHERS
MOMENTUM

R Rajgopal

value of this region.

Mid-segment, budget
housing options
Prominent localities in this
region are Hesaraghatta, Jalahalli, Abbigere, Nelamangala,
and Magadi Road, among others. Research by LJ Hooker India indicates that the average
area of a two-bedroom apartment is in the range of 9501,200 sqft while the average size
of a three-bedroom apartment

is in the range of 1,250-1,500

sqft.
Nelamangala has two-bedroom apartments for around
Rs 30 lakhs and three-bedroom
apartments for around Rs 53
lakhs. Two-bedroom apartments are available for approximately Rs 35 lakhs and
three-bedroom apartments are
available for close to Rs 49
lakhs around Tumkur Road.
While two-bedroom flats are
available for approximately Rs
41 lakhs and three-bedroom

projects Shabeer Sait says,

"The success of large scale
mixed development projects
around the city has spurred
developers to come up with
them in the north too. Since
they offer every kind of facility in the same campus, it
results in higher resale value in future. For instance,
the price of apartments in a
mixed development project
in Rajajinagar, when it was
launched, was around Rs
3,500 per sqft. Today, the resale value is around Rs 10,000
per sqft, more than three
times the original price."
Srinivasa Reddy, Associate Director - Research and
Real Estate Intelligence Services, JLL India, adds, "Hebbal Main Road is currently
undergoing a rapid transformation due to commercialisation. Most industrial
developments along major
roads are being transformed
into a mix of residential and
commercial developments."
Wide range of
housing options
According to Srinivasa
Reddy, the attributes that
make Hebbal a locality to
consider and draw homebuyers here are, "The presence of world-class hospitals,
international schools and the
improved connectivity to the
airport are driving demand
for apartments on Hebbal
Main Road. The location has
seen rampant construction.
The sub-market is witnessing sale of about 5,000-5,550
units per annum. The projects close to Hebbel flyover
witnessed significant absorption activity due to the
strong investment sentiment
towards this micro-market."
Research by JLL India indicates that the current capital values for high-end residential projects are in the
range Rs 7,500-12,500 per sqft,
housing options in the middle and upper-middle segments are priced between Rs
4,500-7,000 per sqft. Currently, affordable housing projects
are priced below Rs 4,000 per
sqft.
Shabeer Sait says, "Locations in the north and the
north-east are performing
well. Areas in and around
Hebbal such as Avalahalli,
Hennur, Thanisandra, Horamavu and Yelahanka have
benefitted due to good connectivity. While Hebbal is the
most preferred residential location with options priced up
to Rs 11,000 per sqft, other locations witnessing good demand are Jakkur with options priced between Rs 6,0008,000 per sqft depending on
the product offered, and Sahakaranagar with options
priced at an average of Rs
6,000 per sqft.
Mid-segment projects are
coming up around Kogilu

budget and mid-segment categories.

TUMKUR ROAD

Strategic location, good

infrastructure
Easy connectivity to key locations through the Tumkur
Road elevated expressway and
the Outer Ring Road (ORR)
link is changing the primarily industrial character of this
region, triggering demand for
residential options around.
The elevated highway between
Nelamangala and Yeshwanthpur junction on Tumkur Road
has significantly improved the
physical characteristics of the
area and influenced the developments within 4-5 km from
the NH-4. Further, the BMIC
is likely to leverage more residential, commercial, and industrial developments.
An expanding industrial
hub with large land parcels,
the rise of this micro-market
can also be attributed to improved connectivity through
the NICE Ring Road to south
Bangalore, presence of the
Bangalore International Exhibition Center (BIEC) and the
elevated expressway to the airport. An integrated township
present in this micro-market
has also led to appreciation the

apartments come to around Rs

58 lakhs around Jalahalli.
According to research by
Vestian Global, many GradeA developments are located
along Tumkur Road, from
Yeshwanthpur up to the ORR.
Till date, about 17 residential
apartment projects have been
launched and the expected supply is around 5,100 units in this
micro-market on a cumulative
basis. This micro-market holds
potential for residential development especially in the

Areas in focus
Shabeer Sait, Executive
Head of Operations, Irshad's
Property Matters, says, "Developers are coming up with
niche projects in and around
Isckon. While two large malls,
in Malleswaram and Yeshwanthpur, serve the retail
needs of residents in the west,
some of the projects coming
up along the highway will have
a mix of residential and retail
in future".
Shrinivas Rao, CEO - Asia
Pacific, Vestian Global Workplace Solutions, points out,
"Many Grade-A developments
are located along Tumkur
Road, from Yeshwanthpur up
to the ORR. Infrastructure and
connectivity has boosted residential developments in adjoining areas such as Magadi
Road, Hesaraghatta, Jalahalli, and other areas up to Yeshwanthpur. This micro-market
has immense potential for residential development especially in budget and mid-segment categories."
According to Vestian Global's research analysis, till date,
about 17 residential apartment
projects have been launched
and the expected supply is
about 5,100 units in this micromarket on a cumulative basis.
Capital values for Grade-A
apartments here are in the
range of Rs 4,300-11,500 per
sqft. The capital values for
Grade-A villas/row houses are
in the range of Rs 4,300-9,000
per sqft. Prices are likely to appreciate between 10-12 percent
per annum in the short term.

Joe Louis D'anto

Cross and Bagalur Cross with

options priced between Rs
5,000-6,000 per sqft," he adds.
According to research by
Irshad's Property Matters,
prices vary depending on the
distance from the main road.
Shabeer Sait explains with
some examples. "On the

main road, prices in Hebbal

average Rs 10,000 per sqft. Off
the main road, options are
priced between Rs 6,000-8,000
per sqft. Depending on the
facilities, amenities and exclusivity offered, villas are
priced between Rs 7,00015,000 per sqft."

I live in my duplex villa within a new

residential layout in Nagavara. Our road
is parallel to Devanahalli Airport Road.
Our area is well-connected to two
highways through the Outer Ring Road
and the airport road. It is a fastdeveloping neighbourhood with new
apartments springing up all around.
All basic amenities are available with new
supermarkets and a mall nearby. A large hospital on
airport road is just a stone's throw away. I live amidst
serenity with trees all around. We are self-sufficient
with our own rainwater harvesting system and a bio
gas unit.
Surekha Shenoy, Homemaker

LOCALITY SNAPSHOT

NOTE: The distances mentioned are approximate and taken from the nearest
point to the destination. The property values mentioned are indicative and vary
based on exact location and property attributes.

A few years ago we would wake up to the

heavy traffic passing through the Tumkur
Road, dotted with industrial units. The
elevated road has eased a lot of the traffic
and has made the place more livable. With
a host of auto ancillary units coming up as
well as some IT companies setting up their
offshore offices here, we can now see a host of
new apartments in the vicinity by well-known developers.
Srikar Hebbar, Industrialist

LOCALITY SNAPSHOT

NOTE: The distances mentioned are approximate and taken from the nearest point
to the destination. The property values mentioned are indicative and vary based on
exact location and property attributes.