Hormavu -The Upcoming Finer Extension Of Bengaluru.
The outer ring road has been the turning point of prosperity of many localities which turned into a bustling residential township from sleepy hamlets. One such example is Hormavu situated at the next stop of Hennur road on the way to KR Puram through the Outer Ring Road. KR Puram is on the right side with adjoining areas as Kalyannagar, Banaswadi, Kammanahalli and Kasturinagar. The road that connects KR Puram to Old Madras Road leads one to the International Airport. The Outer Ring Road is signal free which ensures free commute to places as further as Silk Board and the Electronic City and Bannerghatta Road on the South. This connectivity with the infrastructure and retail centres in places like Hennur Road, Kammanahalli, Banaswadi and Kalyannagar led to the rise of the popularity of Hormavu.
Many projects are being planned in the area with scenes of ongoing construction work which can be sighted while travelling through the ring road. There is evidence of sprawling constructions of commercial spaces with office and spaces for shops and malls.
Many projects are being planned in the area with scenes of ongoing construction work which can be sighted while travelling through the ring road. There is evidence of sprawling constructions of commercial spaces with office and spaces for shops and malls.
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The affordability factor:
With the prices of properties in areas like Hebbal and other adjoining areas going higher in the order of Rs. 8,000 to Rs. 10,000 even two years back, there was a need of a cheaper land parcel which could be easily found in Hormavu by the builder community and this led to the development of a tinsel town in the area which was mainly farmland even 35 years ago. The route to the International Airport proved to be an alternative through Hennur Road which gave Hormavu an added advantage. This was mainly the reason of the popularity of Hormavu among the segment looking for residential pastures. The property prices started to shoot up and places which were Rs. 2,000 per square feet shot up to Rs. 5, 000 per square feet. Average land in Hormavu is priced between Rs. 3,500 to Rs. 4, 500 per square feet and that of an apartment costs Rs. 4, 000 to Rs. 5, 000 per square feet. Few projects which are built facing the lake may be more costly. The real estate inventory here are mostly 2 BHK and few apartments built here are of 3 and 4 BHK too giving a choice to the people desirous of moving to the area.
With the prices of properties in areas like Hebbal and other adjoining areas going higher in the order of Rs. 8,000 to Rs. 10,000 even two years back, there was a need of a cheaper land parcel which could be easily found in Hormavu by the builder community and this led to the development of a tinsel town in the area which was mainly farmland even 35 years ago. The route to the International Airport proved to be an alternative through Hennur Road which gave Hormavu an added advantage. This was mainly the reason of the popularity of Hormavu among the segment looking for residential pastures. The property prices started to shoot up and places which were Rs. 2,000 per square feet shot up to Rs. 5, 000 per square feet. Average land in Hormavu is priced between Rs. 3,500 to Rs. 4, 500 per square feet and that of an apartment costs Rs. 4, 000 to Rs. 5, 000 per square feet. Few projects which are built facing the lake may be more costly. The real estate inventory here are mostly 2 BHK and few apartments built here are of 3 and 4 BHK too giving a choice to the people desirous of moving to the area.
With the current trend in vogue realtors are of the opinion, Hormavu has bright prospects and can turn into one of the finer extensions of the IT capital of India.
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