Looking For A New Address In Old Bengaluru? Sarjapur May Fit The Bill
Sarjapur is an emerging residential district in south-east of Bengaluru. As the city struggles to provide residential units to the multitude of information technology (IT) professionals, Sarjapur is considered a good option in terms of pricing and connectivity, when compared to its peers, Koramangala and Marathahalli.
The area is also gaining traction as one of the popular hangout places with a number of breweries, bars, pubs, restaurants, and clubs mushrooming around it.
Close to the IT corridor
Sarjapur is a lucrative real estate hub due to its proximity to the Whitefield, Electronic City, Outer Ring road, Marathahalli, Silk Board and Koramangala. There is a floating population that regularly travels to the IT company offices in these areas. This population poses a huge demand for residential property in Sarjapur. Moreover, owing to the traffic snarls and travelling challenges of Bengaluru, many mid-level and entry-level executives prefer to live closer to workplace to save time and travel expenditure.
Additionally, Sarjapur has many upcoming special economic zones (SEZs), some of which professed by companies, including Infosys and the Azim Premji Foundation. This development will further increase the population of employees looking for residential property.
At present, property prices in Sarjapur are low but they are fast appreciating. The area is often compared with more developed and expensive neighbourhood of Koramangala. However, the prices in Sarjapur are 40 per cent lower than Koramangala. The prices of properties in Sarjapur range between Rs 3,400 to Rs 5,700 per sq ft, depending on the quality of construction and the builder. However, in terms of civic infrastructure and neighbourhood, Sarjapur Road is on par with Koramangala. The locality offers better facilities and infrastructure than these newer areas. Moreover, availability of large land parcels in the area for development has led to construction of spacious homes at affordable prices. As many as 400 projects are under various stages of construction in the area.
There are a number of spacious and well-constructed properties that are available in the price range of Rs 35 lakh to Rs 60 lakh. On an average, a 2BHK apartment in Sarjapur Road costs around Rs 45 lakh. Projects by Ushodaya builders, Chethana Green Park and Estella Ornate fall into the affordable homes category. However, a number of villas in Sarjapur Road are under-construction due to the rising demand for luxury homes from IT professionals. These luxury properties, including 4BHK apartments in Sarjapur Road, are available for a price range of Rs 1.2 crore to Rs 2.7 crore.
Its proximity to the Outer Ring road is not the only advantage that Sarjapur Road can boast of. The property prices are expected to boost with coming of the planned Phase-II of the Metro network project, which will improve the connectivity. The plan has received approvals from both Central and state governments and is expected to finish construction in five years.
Good rental value
Sarjapur Road is also home to a number of educational institutions such as Bangalore College of Engineering and Technology, Bangalore Technological Institute and ITM Institute of Hotel Management. Many other educational institutes are being planned by Azim Premji Foundation and others, giving a Pune-like touch to the area's rental market which has home seekers from both IT sector as well as educational institutions.
Sarjapur Road is surrounding by the Harlur Lake and a lush green vegetation, giving it a touch of the old Garden city. The contrast of high-rises and natural surroundings also controls the temperature making it pleasant for its inhabitants. While many gated communities boast of landscaped gardens, the presence of natural vegetation with large trees gives it a healthy and happy outlook for the green-loving home buyers.
Growing civic and social infrastructure
Sarjapur Road is gearing up for the rapid real estate growth and is in the process of providing better water facilities. The roads and other civic amenities are also fast catching up to the standards of other developed areas. The social infrastructure is already established in the area with names like Big Brewsky or Chakra Diner and Bar, Xplode restobar, The Fisherman's Wharf or La Casa. It also has Market Square Mall and Total Super Store to suffice all retail needs.
(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities.)