Why Focus Of Bengaluru Authorities Should Shift Beyond MG Road
Job seekers love Bengaluru, also known as the country’s information technology capital that repeatedly features in various global lists of most-dynamic property markets. The presence of the IT industry here has been instrumental in earning the Karnataka capital the migrant-magnet status.
In the times to come, more and more jobseekers would shift to the city to find jobs and to live. One wonders, is Bengaluru infrastructure ready for such a change?
Not quite. Bengaluru started as an unplanned city. Its growth has also taken place at an unplanned and unchecked rate, causing the city and its residents many a problem.
“Rapid urbanisation results a steep increase in population numbers in a city which directly leads to issues such as congestion and overcrowding. A direct impact of the rapid population increase can be seen in the deteriorating quality of life amongst citizens. Public facilities like parks, performance spaces, sporting facilities and entertainment avenues are ignored and/or not planned rightly to cater to the burgeoning population,” says Babu Nagappan, Chief development officer- commercial, Karle Infra Pvt Ltd.
Several big and small civic issues, that include erratic water and power supply, bumpy roads, and overflowing sewages, haunt the city simultaneously. Pollution is also emerging as one of the biggest challenges all big Indian cities have to deal with, Bengaluru included.
Despite the many flaws, rates of property here keep appreciating because of the tremendous pressure on Bengaluru real estate even as inefficient infrastructure remains in tatters.
A city like Bengaluru is thus not able to offer a holistic life for health, community and a sustainable living to its residents. This impacts the progress of people and the city at large, says Nagappan.
People’s unwillingness to move to suburbs is one reason why the city centre is choking, says Hosur Road resident Kanchana Velliyaveetil.
“Developers concentrate on building where the demand is, which is definitely a necessity. But, it is time to build infrastructure and housing where there is scope for companies to move to in near future,” she says.
Authorities are listening, it seems.
Nagappan says that authorities and developers have taken active steps to decentralise the city. Areas that have shown incredible growth potential initially but have scope for even further growth are mainly situated in north Bengaluru. Connectivity to the airport coupled with larger land parcels and infrastructural potential have proven to be a boon for areas in the north like Hebbal, Yelahanka, Nagawara, and Hennur, he says.
“Further pushing development in the region is the presence of various KIADB zones on the Airport road,” he adds.
Some of the prominent reasons why north Bengaluru scores high is because of land appreciation, sustainability and liveability, agrees Nagappan.
“Locations in and around north Bengaluru have shown the capability of withstanding market fluctuations due to price and regulatory changes. Even in terms of rental yield, north Bengaluru sees an average rental yield between 2.0-2.5 per cent per annum,” he says.
Connectivity to the city via the Outer Ring Road (ORR) and the proposed Metro corridor further boosts employment within the region and results in plenty of residential settlements. Furthermore, the amenities, infrastructure and commercial developments of the area, have led to improved liveability for residences.
While areas in the north of Bengaluru have caught the eye of developers, growth and development slows down the closer you get to the airport. This results in the availability of development possibilities in areas after the airport such as Devanahalli and Chikkaballapura.
Lack of public transport and civic amenities combined with a deficit in water availability are some of the factors that are blocking the growth of this area.
Infrastructural advancement and security concerns must be addressed by the planning authorities to catch the eye of developers, says Abhilash C Baldota, AVP - Marketing, Karle Infra Pvt. Ltd
Going to invest in Bengaluru? Take note
For those planning an investment in Bengaluru, Baldota has the following tips.
- Homebuyers must evaluate their property choices more accurately in a post-RERA market. It is paramount for a buyer to review brands and assess their financial health in the past four-six years.
- Study the brand’s product offerings, market feedback and a six-plus-year investment horizon.
- Mixed-use developments have proven to be a smarter choice over standalone developments and buyers must decide the property type which suits their needs.
- Pay attention to documentation and paperwork. A buyer can never be too careful.
- From a location perspective, homebuyers should take into consideration factors like connectivity, social infrastructure and water availability.
Property prices in North Bengaluru
Rent range (per month)
Average cost of 2BHK
6,000- 1.5 lakh
Source: Makaan.com and PropTiger.com | All figures in INR.