In Bangalore the total area of SEZs in the city is almost 3.3 million square meters of which 2.6 million square meters is occupied by the IT/ITes based SEZs. Bangalore’s IT sector spread across the city in both large and small commercial spaces. Being located at Special Economic Zones (SEZs) to occupying commercial spaces in the Central Business District it has dominated the realty scene in the entire city.
To provide the personnel in the IT sector the residential markets along the IT corridors have grown in a big way. People have the options between apartment complexes, gated establishments and condos are an array to choose from.
Demand for residential catchments are mainly the mitigation in travelling time, infrastructure facilities in the vicinity and establishments such as schools, hospitals, malls are among others.
Since the IT development has not moved close to the international airport yet, the residential structure in this region remain in the vicinity of Hebbal, Doddaballapur Road, Jalahalli and Tannirsandra. Wherever the metro lines runs and connectivity is good up to the radius of 4-5km the residential facilities are much in demand.
Bangalore’s Outer Ring Road is the main artery along which residential property of Bangalore are spread out and thriving. The development of reisdential property has extended in the north of Dooravani Nagar and HRBR Layout and in the south the entire stretch from Madivala to Athibele along the Outer Ring Road has many residential property while Brookfields and Mahadevapura in the Whitefield area has the greatest potential.
Home buyers are those who usually look for residential properties in the area they choose to buy. For Example the Metro is one ambitious project to look out for. Bangalore city has seen a large number of residential property launches as compared to other cities. Localities of Bangalore city has seen the large number of residential property launches at various price in north, south and south-east zones.
Successful launch of first reach of Namma Metro has enabled a higher price push of property in Bangalore has created increased demand in localities around Kanakapura Road and Jalahalli which will soon be connected. Hopefully Bangalore will see a lot of infrastructure and new residential investments localities emerging across the city. Elevated expressway to Electronic City and the NICE Corridor are also significant infrastructure projects to look out for in the IT-dominated southern part of the city.
Bangalore’s IT belt is the main driver of its growth and is locted in the south and eastern parts. In Whitefield, Devarabeesanahalli, Hosur Road, Kanakapura Road, Bannerghatta Road areas emergence of huge IT Parks and construction of roads connecting the IT belts has led to residential and commercial options emerging in a major way.