Residential
Reasons why you should invest in real estate in North Bangalore
April 26, 2023
North Bangalore has taken centre stage for being a key investment hub and the epicentre of growth in the past few years. Development in North Bangalore has done wonders for the expansion of the real estate market here. The region has registered the highest growth rate than any other area in the city. Among the notable developments in this vibrant region, Brigade Laguna stands out as a prime residential offering. With elegant and spacious 2, 3, and 3.5 BHK homes, complemented by world-class amenities, it captures the essence of modern luxury and comfort.
According to recent market research done by the Brigade Group and Meraqi Research, North Bangalore will add at least another 3,50,000 new jobs, capturing around 30% of overall office absorption by 2025.1 This commercial growth will in turn increase the supply requirement of the residential catchment to over 1,00,000 units by 2025.
Real estate in North Bangalore attracts not just seasoned investors but also first-time homebuyers and millennials with long-term investment plans. The reasons for this are many — growth potential, rental appreciation, livability factors, excellent connectivity and future employment opportunities.
Here’s a look at some of the recent infrastructural development in North Bangalore and upcoming projects in the region:
Growth as a business hub
North Bangalore is all set to rule the office leasing space not only within the country but also in the Asia Pacific region. Several research and development, aerospace, automobiles and pharmaceutical establishments have set up operations in the area and currently employ over 5,00,000 personnel.
Post the pandemic, IT and ITeS continue to be the key occupier groups here with an increased demand for high-quality office spaces that prioritize health, wellness and sustainability. This has led to a huge influx of IT professionals and the subsequent growth of real estate in North Bangalore.
Residential realty prospects
There are several township projects, premium villas and apartments coming up in North Bengaluru. You can choose from varied housing options, such as plotted developments, expansive villas, luxurious condominiums, fully-serviced homes, branded residences and more, to suit your budget and needs.
Places such as Hebbal, Yelahanka, Devanahalli and Horamavu are popular localities if you wish to make a residential investment. Brigade Oasis in Devanahalli is an upcoming plotted development in North Bangalore and offers all the essential amenities people look for in a gated community. Similarly, Brigade Orchards is a luxurious residential complex ideal for families in Devanahalli.
Residential complexes coming up in and around Devanahalli are expected to bring in a total investment of Rs.1,500 crores.2 The growing social and physical infrastructure, such as healthcare centres, educational institutions, shopping complexes, open spaces and community gardens, has greatly fuelled the residential real estate development in North Bangalore.
Improved connectivity & Terminal 2 at KIA
North Bangalore lies at the focal point of two major industrial corridors, the Bengaluru Mumbai Industrial Corridor and the Chennai Bengaluru Industrial Corridor. Some of the major roads that improve North Bengaluru's connectivity are Outer Ring Road, Bellary Road, New Airport Road and Tumkur Road. Moreover, the proposed infrastructure development of the Metro Rail Phase 2B, Peripheral Ring Road and Satellite Ring Road, will provide much-needed connectivity to other IT hubs in the city.
Development in the North Bangalore region gained momentum with the establishment of Kempegowda International Airport (KIA). Terminal 2 of the KIA, which recently started operations is said to double the passenger handling capacity of the airport to 5-6 crore passengers per annum, from the current capacity of about 2.5 crores. This will in turn increase companies setting up shops and people looking to settle in nearby areas.
Special Economic Zones (SEZ) development
There has been an increasing demand for land from MNCs in the aerospace Special Economic Zone (SEZ) near Devanahalli. Around 900 acres of land have already been allotted to 48 companies, including 100 acres to HAL. The SEZ will include both export-oriented industries and industries that deal with maintenance, repair and overhaul-related activities in the local market. A few European companies, including British organizations, have already applied for land in the Devanahalli SEZ through the Karnataka Udyoga Mitra.
Upcoming noteworthy projects
The upcoming developments and projects planned for North Bangalore are expected to amount to a cumulative investment of about Rs.1,15,000 Crore excluding the investments coming in from the hospitality and entertainment sector.
Prominent projects to look out for in North Bangalore include:
- Information Technology enabled services & Biotechnology (ITIR), considered to be one of the largest infrastructure projects in Karnataka's history
- Devanahalli Business Park coming up adjacent to the Bengaluru International Airport (BIA)
- Aero Space Park near the airport on 1,000 acres area
- Aerotropolis-Airport City, expected to be the new nerve centre of modern civilization
- Global Financial District near Devanahalli, spread over 150 acres
- Medical Tourism Hub, developed by Karnataka State Tourism Development Corporation (KSTDC) on 300 acres of land
The physical and social infrastructure of North Bangalore has all the right ingredients to enable a global lifestyle. This hot spot certainly holds promise for modern homebuyers looking for prime locations, luxury amenities and settings and a great return on investment.
If you are looking to invest in real estate in North Bangalore, then two projects with excellent potential are Brigade Orchards and Brigade Oasis. Strategically located just 10 minutes away from Bangalore International Airport and within 30 minutes from Hebbal and Budigere, Brigade Orchards is a 135-acre award-winning integrated smart township in Devanahalli, North Bangalore. Whereas Brigade Oasis is a luxury plotted development by Brigade Group. This exclusively planned development located in Devanahalli offers you a one-of-a-kind lifestyle and a host of amenities.
Reference Links:
- https://www.constructionweekonline.in/business/north-bangalore-emerging-as-the-next-growth-destination-brigade-group-meraqi-study
- North Bangalore for investments & proposed future developments (hindhrealty.com)
Research Links:
- https://housing.com/news/north-bengaluru-set-to-scale-new-heights-on-infra-support/
- https://www.financialexpress.com/money/north-bangalore-emerging-as-the-next-growth-destination-study/2517869/
- https://www.constructionweekonline.in/uncategorized/north-bengaluru-the-game-changer-to-bengalurus-real-estate-space
- https://economictimes.indiatimes.com/news/india/why-nows-the-perfect-time-to-invest-in-real-estate-in-north-bengaluru/articleshow/88538230.cms
- https://www.constructionweekonline.in/business/north-bangalore-emerging-as-the-next-growth-destination-brigade-group-meraqi-study
- https://timesofindia.indiatimes.com/city/bengaluru/all-you-need-to-know-about-bengalurus-kempegowda-airport-terminal-2/articleshow/95418099.cms#:~:text=Terminal%202%20%28T2%29%20of%20KIA%20can%20be%20termed,emit%20zero%20carbon%2C%20to%20symbolise%20the%20Garden%20City.
- https://www.pmindia.gov.in/en/news_updates/pm-inaugurates-terminal-2-of-kempegowda-international-airport-at-bengaluru/
- https://community.nestaway.com/blog/best-areas-to-live-in-north-bangalore/
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