Bangalore: The Metro corridor has no doubt created a positive impact on the realty growth in its periphery. Though the full impact of this can be seen in the years to come when the entire stretch connecting the two corridors will be operational, the M G Road to Baiyappanahalli route as well as the Malleshwaram to Yeshwanthpur route are witnessing interesting developments.
The realty growth in these regions is witnessing more vertical development, mixed land use as well as integrated township developments.
East-West Corridor: 18.10 kms, 16 stations Baiyappanahalli to Mysore Road NORTH-SOUTH CORRIDOR: 24.20 kms, 24 stations Hessaraghatta Cross to Puttenahalli Cross The Phase I of the Metro Rail will see renewed traction in the areas that it will pass through. Once this phase is completed, it will boost prospects for emerging micro-markets that will see realty development once Phase II become operational.
According to a report by Cushman and Wakefield, established locations in central Bangalore continued to be preferred among end-users and witnessed healthy appreciation in both the middle and high-end segments. During the last three years, capital values of high-end locations of the city also recorded a significant appreciation of 37 percent. The established suburbs of north-west witnessed the maximum capital value appreciation of 95 percent the highest among the top seven cities due to the launch of quality developments that garnered healthy demand due to their proximity to the international airport.
High-end housing demand from IT-ITeS professionals remains a major growth driver for the city’s residential market.Notably, six mid-segment micro-markets in the city have featured among the top 10 micro-markets across India that recorded significant capital value appreciation during the past three years.
North: Hebbal, Bellary Road, Hennur, Thanisandra, Jakkur, Yelahanka, Banaswadi. SOUTH: Koramangala, Sarjapur Road, Bannerghatta Road, Jayanagar, J P Nagar, Electronic City, Kanakapura Road EAST: Whitefield, Old Airport Road, Marathahalli, Old Madras Road, K R Puram WEST: Yeshwanthpur, Malleshwaram, Rajajinagar, Vijaynagar, Tumkur Road According to a Knight Frank Realty Report, the general elections results, revival of manufacturing sector, higher salary growth in ITITeS and various measures announced in the Union Budget seem to have induced a positive change in the homebuyer sentiment.
The second phase of the Metro Rail corridor will comprise of a total length of 72.10 km.
Extension from Nagasandra to Bangalore International Exhibition Centre.This will be a fully elevated stretch of 3.80 km with three stations. In addition to catering to the industrial growth in Peenya, Greater Peenya, Dabaspet and beyond, this region will also witness a transformation when the BangaloreMumbai Industrial Corridor becomes a reality.
Satellite townships and the development of clusters from Tumkur to Belgaum will see this region develop as a manufacturing hub.
Extension from Puttenahalli to Anjanapura, also fully elevated, will run over 6.30 km with five stations along the route.This reach of the Metro will cater to in dustrial belts of Harohalli, IT hubs in Electronic City and on Kanakapura Road.The region is already seeing tremendous residential development much beyond the city limits.
RV Road to Bommasandra
Integrating the north-south corridor will be another line RV Road to Bommasandra. This new line with interchange at R V Road (southern line of Phase I) will cover a total length of 18.82 km and have 16 stations Ragi Gudda Temple, Jayadeva Hospital, Silk Board, HSR Layout, Munishwaranagar, Chikka Begur, Electronic City, Bommanahalli will be some.
Extension from Baiyappanahalli to Whitefield, also fully elevated, with 14 stations over a length of 15.50 km is planned.
This section will be beneficial for the IT hub in Whitefield, as well as the auto hub in Hoskote and Narsapur. It will also augment connectivity when the Bangalore-Chennai Infrastructure Corridor is developed.
Mysore Road junction on the Outer Ring Road to Kengeri, also fully elevated with five stations along 6.50 km stretch.This stretch of the Metro will augment connectivity when the Bangalore-Mysore State Highway is upgraded from the existing four lanes to six lanes. The doubling of the railway track between the two cities will reduce commute time and have an impact on the industrial growth of Mysore too.
The Metro connectivity will add advantage to this connectivity from the railways and roadways.
Nagawara to IIM, Gottigere
Integrating the east-west corridor will be an additional line Nagawara to IIM, Gottigere. This new arterial line with 14.20 km underground and seven km elevated will run over a total length of 21.25 km, with 18 stations (six elevated and 12 underground).
These stations at Gottigere, Hulimavu, IIM-B, J P Nagar IV Phase, Dairy Circle, Vellara junction, Shivajinagar, Cantonment Station, Pottery Town and Nagawara among others will cater to the micro-markets in this belt.
Source: Times Property, The Times of India, Bangalore