Wednesday, 9 April 2014

Bangalore’s real estate prices to see an increase in metro corridor

The start of Metro work in the west, the region has witnessed remarkable changes in its landscape. The Metro line work has made the real estate developers to come up with many projects that include mixed-use developments, residential, and commercial development projects across this region. These initiatives are due to the metro work that will provide convenient connectivity to the old neighborhood of Malleshwaram with the localities towards the peripheries.

One of the real estate consultants explains about the several advantages of the Metro line in the west. The Metro Line will connect the established residential areas of Malleswaram and Rajajinagar to the upcoming neighborhoods like Nandini Layout, Kaveri Nagar, and Sanjay Gandhi Nagar in the north-western region. Residents in these areas will enjoy easy commuting at reasonable prices and avoid traffic congestion.

An ongoing view on commercial segment

With the Metro Line work, presently the commercial real estate is focused mostly in Malleswaram, Rajajinagar, and Yeshwanthpur. Nevertheless, with the approval for higher floor area ratio (FAR) along the Metro lines in the near future, developers will be boosted to come up with office projects on the Sampige Road-Peenya stretch.

One of the real estate developers says that the increase in FAR along the Metro Line that will give good accessibility and closeness to the Central Business District (CBD) locations and airport will highlight the development of both residential and commercial projects in the location. Along with this, the substantial availability of land parcels long the Metro Line for improvement and developments of commercial real estate would get lift.

Another real estate expert adds that the retail real estate in Malleswaram, which was isolated when the metro work began, will see resurgence. A boom in the development of shops, supermarkets, and showrooms is likely to be witnessed around Malleswaram, which will be convenient for metro commuters to stop at the stations and grab what they want and go head

A current stance on residential segment
A real estate developer says that the number of residential projects in the west will increase due to the easy connectivity to distant localities provided by the Metro Line. Once the entire line is complete, with an option to commute easily to distance places a huge range of choices and supply will also increase.

One of the property consultants says in the coming years a huge number of potential buyers will be attracted to the residential micro-markets along the Sampige Road-Peenya stretch and the major factor for this drive would be the faster connectivity to workplaces. This metro line will reduce the traffic blockages towards the city center thereby reducing travel time by road as well. Furthermore, the residential micro markets along the Metro stretch are likely to yield price appreciation for investors, which would attract buyers from other regions.
One of the latest researches reveals that already major real estate players have ventured into this region and one of the developers has projected to come up with a mixed-use development in Yeshwantpur over an area of 1.70 million sq. ft. and another renowned developer has planned for a luxury villa project near Nelamangala.

Many real estate developers, experts and players say that residential projects around the Metro Stretch will see increase in price. Some of the activities that can be witnessed in the area are redevelopment of old buildings and developing land parcels for residential projects. One of the analysis reports shows that the average annual price appreciation in this region is somewhere between 15-18 percent but some projects have also seen price

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  1. These days there has been many scams by fake realtors claiming the money for a sold land and villas. Promised prominent villas turned out to be random villas with no proper amenities. Indeed you dot find any well organised independent villas in bangalore .

  2. Bangalore has become a major place for the people where thousands of people turn up in to start a living and hence the real estate market is booming and this article is very informative and provides us great perspective of real estate future in bangalore

  3. North Bangalore has grown as a real estate hot spot in the past few years due to the presence of Bangalore International Airport. Many logistics, entertainment and hospitality services have set up shop in the surrounding areas, drawing the attention of the real estate developers.

  4. Excellent idea . These days there has been many scams by fake realtors claiming the money for a sold land and villas. now people are preferring to stay in Spacious houses and buying Real Estate Developers in Bangalore and Villas In Whitefield

  5. yeah i believe demand for residential property is increased and increasing in a tremendous way because of due to the effect of it sector growth and metro establishment in the city

  6. Any apartment or properties near by metro station coverable area will be appreciated by great price and metro line will also reduce the traffic blockages towards the city center thereby reducing travel time by road as well. Due to these facts investers are likely to buy their property or apartment near by metro station.

  7. Establishment of metro helps to connect the different localities inside the cities might be not now but once project completes or metro reaches all the part around the city it comes to use in full fledge.

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