Bangalore ORR, The Most Sought After Residential And Commercial Destination

Bangalore:

The ORR (Outer Ring Road) of Bangalore has been the main link between the different economic activities in south, east and presently the north as well. The areas around Marathahalli have been the most preferred destination of activity since it connects points between the south and the east. The portion of the ORR between HSR Layout and Marathahalli has witnessed developments in all spheres of residential, retail, commercial activity due to proper connectivity and access to economic zones, benefits of mutation corridor and the nearness to residential areas.

According to the experts, the concentration of hi-tech zones with a large number of SEZ and STPI units, towards the east Sarjapur Road, Electronic City, K.R.Puram, ORR Bellandur to Whitefield resulted in such growth of the whole region. HSR layout point’s experts have typically been a preferred residential location in South Bangalore. The area has well organized layouts formed by BDA (Bangalore Development Authority) with ample physical infrastructure such as roads, shopping malls, parks etc. As the ORR emerged as a prominent IT economic zone, employment opportunities increased with leaps and bounds encircling around the region of HSR Layout and Marathahalli. The emergence of ORR and adjacent areas as a favourite destination for economic activity enabled speedier connectivity to the HSR layout neighbourhood.

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Commercial activity and market overview

Commercial and office space development has also spurred in this region owing to proximity to the hi-tech zones and access through the ORR has converted this stretch into a preferred commercial hub too. The research on the data available shows a total office space stock along this HSR Layout - Marathahalli stretch is roughly 23.50 million sq. ft. Along with built to suit developments and multi tenanted buildings there are several IT projects, well established in this belt. With several prominent office projects, one can also notice many major international IT companies being housed here.

This micro-market is also preferred by banking, financial services and investment sector along with IT sector and majority of migrants tend to show preference for office space here. Corporates seem to prefer this area due to factors like nearness to the Central Business District and residential markets too. Apart from this, the area enjoys the access to large talent pool, airport connectivity and presence of all infrastructural facilities like hotels, entertainment hubs, eateries etc.

The Future:

The experts are of the opinion that with the present demand and supply situation in mind the future seems well for commercial IT development in this market. The opinion goes that with additional influx of business infrastructure as hotels, malls, supermarkets, healthcare facilities, this micro-market is projected to grow further in the next few years to come.

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Hebbal a preferred place attracting the IT Crowd in huge numbers

Whenever an individual plans to buy a home there are a set of basic criteria’s which the buyer should keep in mind. Water is one of those most important things which should be checked before buying a house in any such location irrespective of an array of amenities provided by them. The other important concern which the buyers may look into are the daily commute to and fro from the home to the work place that to one should keep a note of the time taken in traveling to these places.

Hebbal is an area which scores well and fulfills all these criteria’s.

Water

Water is an essential requirement for every human being and it’s a necessity to be taken care of while buying a house.  As there is Cauvery water supplied in almost each area in and around Hebbal the entire location receives an ample water supply for drinking and cooking purpose. It surely lies to the fact that this micro market was at a time known for its lakes and this has also ensured a very healthy and a highly grounded status.

Connectivity
Hebbal the area renders a well-connected route. The BMTC offers the services of the Vayu Vajra Airport Bus Service on the 10 major selected routes towards the Bangalore International Airport. En route to the airport the bus covers areas like Brigade Gateway Hal Main Gate, JP Nagar 6th Phase, HSR Layout, Kadugodi, Electronic City, Majestic, BTM Layout and Mysore Road Satellite There are two major routes for this unique bus service to reach Hebbal is either through Mekri circle or through the Outer Ring Road.

Nearness to the Tech Parks
The most famous Manyata Tech Park and the Kirloskar Tech Park are located very closely to the area of Hebbal. Many other technology parks are under construction which are Karle Town Centre, RMZ Galleria, Brigade Magnum, Sattya Galleria and the RMZ Latitude. It is estimated there will be around 1.72 million square feet of the office space is going to get ready by the upcoming time.

During its early stage of development Hebbal saw a lot of development for a number of Multi- story apartment and complexes being constructed. This entire growth is due to the expansion and also the rising demand. The big shots and the real estate of this area has seen a lot of improvements and advances happening and a lot of well-built infrastructures have come into completion. This has resulted that many of the big players have reserved and shifted to this area known as Hebbal. As the area provides an improved infrastructure there are a bunch of interested buyers who are ready to venture into the builder floor and apartments. The area has also offered an ultra- luxury category and several other high-end villas. Hebbal caters to a number of requirements of the high budget.

Hebbal offers a 2 BHK apartment at a price tag of Rs. 35 to 85 Lakhs entirely subjected on the location, construction type and the amenities provided. The luxury 3 BHK Flats is offered at a price tag of Rs. 6,000 per square feet.

In a different match to this the builder floor segment is creating a buzz in the area. In the recent times the demand grew by 12 percent in the months of April and June during the year 2014 quarter when compared to the demands of the January and March quarter of 2014. The apartments and other residential units offered under this segment are priced somewhere around Rs. 4,300 to Rs. 4,800 per square feet.

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Buying a House clearly know your needs and wants

Purchasing a house is indeed a very wearisome task it takes a lot of planning and assessment before jumping to a conclusion. For an individual it is mandatory to take care of all the concerns before buying a house. One should look closely to a wider perspective of needs and wants before making a decision to buy a 2 BHK Apartments or a 3 BHK Apartments strictly depending to the requirement of the family respectively catering the needed edge to all the family members.

Buying a house is probably one of the most important decisions you will make in life. Therefore, it pays to keep a few practical things in mind before you buy the house of your dreams. We spoke to a few home owners to learn from their experience:

Ranking Significances: These days a prevalent trend of ranking is prevailing among the recent buyers they are planning to rank the houses according to their needs. They are also ranking their needs and importance in order to crack the most affordable deal. This discussion about ranking is done by sitting down with the entire family and making a final list of all such requirements.

The thin line between Need and Want: There is a huge difference between the meaning of needs and wants needs are basically a set of things which are a part of the basic necessity and wants are those set of things which are other than those necessary things. In the real estate terms a need can be fulfilled with a 2 BHK also but for instance for a family of 4 a 2 BHK might be absolutely fine the family of four comprises of parents their two children and also two pairs of visiting grandparents who have turns over to take of their grandchildren. The term want in the real estate is 3 BHK for the same combination of family.

These days many of the young home purchasers are lost in the stream of their demands of buying big and spacious houses which are just more than enough for their nuclear family with a set of visiting guest. Now a days the potential investors are looking for much spacious localities with an array of amenities like big swimming pool, gym, ample walking, running space and much more. These days in order to avail so much the consumers are even ready to pay a hefty amount of Rs. 60 Lakhs.

It is an ideal decision to grow with the family: The new generation now believes in growing together with the family and is now a day a new trend in the town many of the new couples are coming up with solutions to fit the needed housing setting in their budget. Conceptualizing and customizing is the new trend in the town. Many of the recent have clubbed the two types of residential property in order to drag their requirements to their budgets. As per some recent cases now the probable buyers have made a shift to approximately a 1250 sq. ft. space from 2000 sq. ft. to fit all their needs and requirements to fall in their well-planned budget.

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This year’s hotspots for realty investments

Speculators as well as long term residential buyers have always been attracted to the real estate market, and despite the economic slowdown, the glitter of realty never seems to lose its sheen. India has always been noted for its lucrative property hotspots and let us examine five such ones for the year 2014.

Mumbai, arguably the commercial capital of the country has the golden lucre of realty on it. And all that glitters in Mumbai realties have proven to be indeed platinum. This economic powerhouse is the most populous in the country and is strategically located to industrial and commercial areas of great importance. One can get more than ten times one’s investments in places like Navi Mumbai, Thane, Chembur, Wadala, Bhiwandi, Charkop and Kalyan. In particular Navi Mumbai, which was developed in 1972, has areas like Kharghar, Panvel, Palm Beach road, Panvel, Ulwe and Kalamboli upon which one may make astronomical profits. This is also due to the massive infrastructure in place in Mumbai, the city of dreams.

Pune, which soon is going to be named as Pumbai, due to its close proximity to the commercial powerhouse, has capitalized on the fact that it is indeed ‘the’ hub of IT/ITes international outsourcing services. Due to these facts strategically located realties in Kalyani Nagar, Aundh, Wakar, Baner, Wagoli, Charoli, Pimple Nilakh, Pimple Saudager, Rahatani and Viman Nagar are literal hot areas for tepid speculation and investments in realty. Punes elite boast of the purchasing power that few possess in India due to their involvement with the IT special economic zones. Due to the massive economic infrastructure and proximity to the international airport, Pune has established its name in so far much as an economic power can.

And so we come to Delhi, the capital of India, whereas it’s industrial alter ego Noida and Noida extension, by reason of it being in close proximity to the capital itself, and having the Dwaraka expressway at its helm make it one of the most appealing areas in India. The co-head of DTZ, India reports that Delhi NCR is the most appealing place because of yearly expansions of 15-20% a year and property prices shooting to more than 111% in some locations from INR 3200 to INR 6760 per sq. ft. Today the Noida extension has more than 80,000 residential units. Now that’s a realty hotspot.

The Dwaraka expressway has created over 12,649 residential units by connecting Gurgaon and Delhi NCR. In addition to this, cities like Gurgaon, Noida, Ghaziabad, Sonepat, Panipat and Karnal are interconnected making it an infrastructural powerhouse.

The first thing that comes to mind when one thinks about Bangalore is the massive information technology sector, and this is the home to virtually all the multinational IT giants, that matter in the world today. Amongst all commercial areas in Bangalore, Whitefield, in the east is the most prominent, due to its IT/ITes infrastructure and by sheer reason of it being a residential area of great potential.

The Export Promotion Industrial Park has changed the face of Whitefield by paving the way for global IT/BPO investments in this region. In addition to this, developers have added the icing to the cake by adding malls, shopping areas, five star hotels and residential areas.

The presence of employers here has created a new class of affluent and prosperous employees, and this has in turn created a vast demand for services of all sorts for them. Whitefield has a very good connectivity to the rest of Bangalore and this has created a very strong retail and FMCG demand market there. If you are looking for affordable Flats for Sale in Bangalore then visit Dreamz Infra Builders today.

Bangalore currently attracts more than 24% of investment in real estate.

Further down South we come to the metro of Chennai, where we can find major corridors like the great southern trunk (GST road), Old Mahabalipuram road (OMR) and the East coast road (ECR), these areas have been rapidly expanding for the last couple of years as these areas have been demarcated for massive development by both local and national developers. Like Bangalore and Pune, Chennai has got a massive infrastructure for IT/ITes/BPO companies and this has been progressing on the path of sophistication in the recent decade.

The areas of development namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur are the key vicinities in Chennai. Development is also taking place on the roads that interconnect the key commercial areas in this metro.

Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City and Olympia Opaline are some examples of mega projects that are going on in Chennai.

These are well connected by the roadways like OMR,GSR and ESR to each other. Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam and Selaiyur are other rapidly developing residential areas in this High tech horizontal coastal metro of India.

Chennai - Southern Suburbs:
The southern suburb of Chennai covers major corridors along with Great Southern Trunk (GST Road), OMR (Old Mahabalipuram Road) and ECR (East Coast Road) has been witnessing a fast growth over the recent years. The improvement of the IT/ITES sector has paved away for overall development of these confines as it witnessed the development of large scale residential townships from both national and local realtors. The key vicinities in these are namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur. The suburbs witnesses demand from IT/ITes employees as it comprises of major Roads where most IT related developments are concentrated. Many major national and local developers are developing townships in the southern suburbs of Chennai. There are large tracts of land/property available for developments in this submarket like Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City, Olympia Opaline and many more.

The submarket is well connected by OMR, GST and ECR to the city. This improvement of connectivity to the city location and infrastructure projects are likely to drive the property investment values in Chennai. The locations like Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam, Selaiyur and other neighboring locations are expected to see the rapid growth in the coming years.

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Development in Bangalore is led by the growth of Civil Infrastructure

One driving factor in the growth of the city is its developing infrastructure. The opening up of the areas in the peripheries is a result of the expanding infrastructure in Bangalore. Many IT companies got attracted to the seamless travel and the huge availability of large parcel of lands resulted into the growth of the city in every vertical. Thus, good connectivity is one such factor which led the foremost reason for the splurging growth.

The article focuses on some of the best upcoming projects related to infrastructure that will foster the growth of the city and get more areas of Bangalore into a strong consideration and attention.

The BBMP Association or the Bruhat Bangalore Mahanagara Palike has sketched out a plan to elevate the civic infrastructure in the Central Business District known as the CBD obeying to the Tender SURE strategies. According to the guidelines of this tender the good quality of the roads is already ensured, and also there is no need to dig them frequently with separate space allotted for utilities. With the Metro development soon to get over will ensure increased attentiveness in the finest residential localities around and also the Central Business District.

The major arterial roads around the city could be widened according to the BBMP plan of action, areas like Sarjapur Road, Kanakapura Road and Bannerghatta Road are to be targeted. These areas have turned up to be the prime micro markets in a very short span of time due to these planned and well-connected key areas emerging as major commercial and residential areas.

As the Phase 1 of Bangalore metro is expected to be at service by September 2015 these major areas will get an unbroken connectivity. It is highly recommended that investing into properties located near to the metro will fetch better returns in future as the value will eventually increase. With the advancement of the metro an added promise of better access to the shopping hubs will be rendered. Also the residential market will also get a boost in this area.

It is hoped that the PRR or the Peripheral Ring Road project is yet to take off soon which will simplify the congestion on the major roads as well as the Outer Ring Road. This entire situation will result in the evolving of new environs stretching towards the outer limit of the city which will on the other hand offer a well- networked travel in and out the city connecting all the major principal roads together.

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Expectations of Bangaloreans from the Budget

To own a dream house has remained a dream for many. It is one of such things that the consumers are looking forwards to. Several Bangalore locals are looking for a price drop down so that they can buy their own dream houses. The local crowd of the city has come together to raise a voce with interesting solutions about owning a house.

Owning a home is indeed a wonderful feeling and also the most desired one. For any working professional it is extremely important to have a house of his own. It is also a known fact about the working professionals and individual that very less people are able to pay the down payment and about 90% of the individuals depend upon the home loan with EMI’s, that is the only possible way to afford an apartment. It is also essentially advised that the finance minister should keep these thing sin while while planning the housing budget and the budget speech.

There is also a fear prevailing that the EMI’s may also raise in future post the announcement of the new budget. Giving an industry status will not only result in the shakedown but will also lead to a much practical price tag. Thus, nominating an industry status will help in bringing out more transparency in the progress in this segment. This will not only leverage the benefits of many systematic insurance, financing and other monetary incentives. This happening will substantially result in the market force overtaking and also the prices of apartments will stabilize a bit being lowered.

Bangaloreans are also looking forward for a much ensured transparency. This could only happen as soon as the Real Estate Regulatory Bill gets the approval and followed by the hopes of the buyers being benefited.

According to a senior VP in the IT sector there are still some grey areas the need to be addressed. Many of the individuals have still been cheated and mislead about the fake advertisements and sales on the bases of super build up area. It is strictly advised that the Union Government should pass regulations that are precise to the construction in the residential segment only. A formation of a dispute redress will also help a lot in such situations bringing more accountability.

All the above provided solutions have seen to be practical enough and so they have made the realtors agree to these expectations. With the raising urbanization in the metros, the realty developers have seen a major opening for the development and planning of the mixes use of gated communities, township and apartments.

It is all dependent on the Center and the State Government to bring in a strong law and order and an intention to enforce a single window clearance for the real estate projects to be developed because it is true that the actual waiting cost is always swallowed by the consumers.

Jan-Mar 2014 Bangalore Residential Property Prices for Sale

Bangalore is the one of the top metro city and IT hub of India. The population of Bangalore / Bengaluru was 4 Million people in 2001. But currently the population reached to 10 million. Bangalore is also ranked at number 3 spot in India in terms of most populous city. Below are the Jan-Mar 2014 Bangalore Residential Property for Sale Prices.

#	Location	Price Range (Rupees./Square feet)	Average Price (Rupees./Square feet)
1	AECS Layout	-	-
2	Akshaya Nagar	3,356-4,448	3,902
3	Amrutahalli	4,404-4,883	4,644
4	Anekal	2,511-2,849	2,680
5	Arakere	4,075-4,615	4,345
6	Attibele	2,304-2,426	2,365
7	BTM Layout	4,734-5,897	5,316
8	BTM Layout Stage 1	-	-
9	Babu Sahibpalya- Hennuru	3,880-4,269	4,075
10	Banashankari	6,880-7,438	7,159
11	Banashankari Stage 2	6,556-7,875	7,216
12	Banashankari Stage 3	5,747-6,517	6,132
13	Banasvadi	4,397-5,199	4,798
14	Bannerghatta Road	4,307-4,483	4,395
15	Basavanagudi	-	-
16	Begur Road	2,612-5,429	4,021
17	Bellandur	4,603-4,854	4,729
18	Benson Town	8,009-9,438	8,724
19	Bomasandra	2,912-3,806	3,359
20	Bommanahalli	3,881-4,296	4,089
21	Borewell Rd	3,443-3,770	3,607
22	Brooke Field	5,013-5,400	5,206
23	CV Raman Nagar	4,419-4,919	4,669
24	Cambridge Layout	-	-
25	Channasandra	3,035-3,410	3,223
26	Cookes Town	7,517-9,291	8,404
27	Cox Town	6,187-7,679	6,933
28	Devanahalli	3,725-4,563	4,144
29	Doddaballapur Road	3,779-4,104	3,941
30	Doddanakkundi	4,347-4,834	4,591
31	Domlur	6,984-8,866	7,925
32	Electronic City	3,284-4,090	3,687
33	Frazer Town	7,440-9,214	8,327
34	G M Palya	-	-
35	Gottigere	3,226-3,695	3,461
36	HBR Layout	4,105-4,436	4,271
37	HRBR Layout	5,104-6,017	5,560
38	HSR Layout	4,729-5,353	5,041
39	Hal 1-3 Stage	3,689-4,591	4,140
40	Harlur	5,087-5,569	5,328
41	Harlur Rd	5,395-5,694	5,544
42	Hebbal	5,628-6,163	5,896
43	Hebbal Kempapura	-	-
44	Hennur	3,644-3,863	3,753
45	Hennur Main Road	4,192-4,456	4,324
46	Hennur Road	4,479-4,772	4,625
47	Hesara Ghatta	3,749-4,274	4,011
48	Hoodi	3,738-4,126	3,932
49	Hormavu	3,611-3,948	3,780
50	Hosa Road	3,435-3,752	3,593
51	Hosur Road	4,008-4,356	4,182
52	Hulimavu	-	-
53	ITPL	3,859-4,182	4,020
54	Infantry Road	-	-
55	J.P. Nagar Phase 9	3,188-3,539	3,364
56	JP Nagar	4,378-4,639	4,509
57	JP Nagar Phase 1	-	-
58	JP Nagar Phase 5	5,052-5,835	5,444
59	JP Nagar Phase 6	5,182-5,658	5,420
60	JP Nagar Phase 7	4,896-5,414	5,155
61	JP Nagar Phase 8	3,719-3,899	3,809
62	Jakkur	4,881-5,393	5,137
63	Jalahalli	3,680-3,986	3,833
64	Jalahalli Cross	3,167-3,797	3,482
65	Jaya Nagar Block 1	-	-
66	Jayanagar	8,299-10,600	9,450
67	K R Puram	3,423-3,578	3,501
68	Kadugodi	3,419-3,652	3,535
69	Kaggadaspura	3,751-3,967	3,859
70	Kalyan Nagar	3,623-4,303	3,963
71	Kammanahalli	-	-
72	Kanakapura Road	3,739-3,856	3,797
73	Kasavanahalli	4,377-5,099	4,738
74	Kasturi Nagar	4,624-5,087	4,855
75	Kengeri	3,187-3,564	3,376
76	Kengeri Main Rd	3,035-3,337	3,186
77	Kodi Halli	-	-
78	Konenakunte	3,017-3,225	3,121
79	Koramangala	7,263-7,820	7,541
80	Koramangala 2nd Block	-	-
81	Krishnarajapura	3,591-3,947	3,769
82	Kudlu	3,943-4,394	4,169
83	Kudlu Gate	3,452-3,776	3,614
84	Kumaraswamy Layout	4,407-4,914	4,660
85	Kundalahalli	3,775-4,102	3,939
86	Lavelle Road	15,491-20,105	17,798
87	MG Road Area	11,741-14,117	12,929
88	MS Pallya	3,439-3,592	3,516
89	Magadi Road	4,996-6,259	5,628
90	Mahadevpura	4,830-5,205	5,017
91	Malleswaram	11,605-12,663	12,134
92	Marathahalli	4,322-4,683	4,502
93	Marathahalli-Sarjapur Outer Ring Rd	5,235-6,109	5,672
94	Mathikere	4,429-4,862	4,646
95	Murugesh Palya	-	-
96	Mysore Road	3,806-4,075	3,941
97	Nagarbhavi	3,218-3,774	3,496
98	Nagawara	0-20,180	9,740
99	New Tippasandra	-	-
100	OMBR Layout	4,601-5,083	4,842
101	Off Tumkur Road	3,069-3,474	3,271
102	Old Airport Rd	5,339-6,144	5,741
103	Old Madras Road	4,417-4,677	4,547
104	Outer Ring Rd	5,165-5,492	5,328
105	Padmanaba Nagar	4,569-5,569	5,069
106	Panathur	4,291-4,623	4,457
107	Peenya Industrial Area	2,845-2,879	2,862
108	RMV Extension Stage 2	5,184-6,668	5,926
109	RMV Stage 2	7,118-8,506	7,812
110	RT Nagar	4,146-4,578	4,362
111	Rajarajeshwari Nagar	2,326-7,989	5,157
112	Richmond Road	-	-
113	Richmond Town	-	-
114	Sahakar Nagar	4,723-5,921	5,322
115	Sanjay Nagar	6,710-7,446	7,078
116	Sarjapur	-	-
117	Sarjapur Road	4,271-4,449	4,360
118	Sarjapur-Attibele Road	2,662-2,919	2,791
119	Silk Board	3,517-3,699	3,608
120	Singasandra	3,474-3,695	3,584

Source: MagicBricks

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