Corridor of growth Corridor Description and Rating Areas Included: Electronics City, , Huskur, Chandapura, , Kudlu, and Hosa Road

Fig 1: Map of the corridor 02 Corridor of growth (COG)

About the Corridor lectronics City Corridor, located in South per current estimates should be completed by corridors that are mostly under BBMP Bengaluru, is the largest electronics park 2020. Heavy traffic logging on the Central Silk jurisdiction, here different parts of the corridor Ein spread across an area of 350 acre Board Circle has now prompted the authorities are under different authorities such as BBMP, in Taluk. Unlike other corridors which to also include this corridor as part of the Gram Panchayats, ELCITA and BMRDA-Anekal are radial, this is a linear growth corridor with Phase-III Metro work and RITES (a design Planning Authority. residential and commercial hubs on either side consultancy firm) has been entrusted the work Although the area boasts of a good of Hosur Road. to conduct feasibility studies to link the metro expressway and a NICE corridor to connect through this corridor to connect to North Currently the corridor is connected to rest of to the rest of Bengaluru, Central Silk Board Bengaluru. The Central Silk Board to Hebbal Bengaluru through the 4-lane tolled elevated which is the most nodal point connecting this Line will be parallel to the ORR and cover expressway opened in 2010 from Madivala corridor to the Peripheral Business District areas such as Sarjapur Road, and (Central Silk Board) to Electronics City and the (PBD) and the Central Business District (CBD), Mahadevpura. BMIC-NICE Corridor which connects Electronics still faces lot of traffic congestion throughout City to Bannerghatta Road, Kanakapura Road, The proposed PRR which starts from Hosur the day. Mysore Road and Tumkur Road. The corridor Road, an 8-lane expressway, will provide an This has been a key factor for investors holding can also be accessed from the Sarjapur Road arterial connection to Tumkur Road and will back from investing in this corridor. Social Corridor through the Outer Ring Road (ORR) allow heavy traffic coming from Mumbai, infrastructure is yet to catch up as well as there or Haralur Road which connects at Jail Road Pune, Chennai etc to bypass the city. are no good malls or shopping centers in this (Naganathapura) or through the SH-35, also The proposed Neo Mall and the Hiranandani corridor currently. Problems with maintenance known as Sarjapur- Road. Mall are currently progressing at a slow pace. of the localities are attributed to the fact As part of Metro Phase-II a new line will be Although the area has a floating population that most of them are under the ambit of the added to the existing green line which will of almost 1.5 lakh professionals, the social Gram Panchayats which are not well equipped connect from Jayadeva Hospital Junction to infrastructure is yet to catch up as residential to handle the issues of large communities Bommasandra. This will cover most of the communities have just started functioning coming up in this corridor. areas on the Electronics City Corridor and as in most parts of the corridor. Unlike other

Overall Connectivity Social Infrastructure Security/Water

Properties available in the corridor he corridor offers a wide range of the demand is highest (63%) for 2BHK units. ready-to-move-in inventory. The corridor properties with majority of them Interestingly Fig 3 shows that 53% of the has an almost uniform rate throughout Tin the Rs 20-40 lakh price segment. property in this corridor is ready-to-move-in. until Electronics City but a few premium Considering the corridor has a high population This means it is a buyer’s market as many apartments close to Central Silk Board are of employees working in the IT/ITES sector, developers would be ready to dispose the quoting upwards of Rs 1 crore for a 2BHK unit.

Fig 2: Distribution of properties by price Fig 3: Distribution of properties by delivery status Fig 4: Distribution of properties by bedroom configuration 03 Corridor of growth (COG)

Table 1: Sizes and prices of flats available for As explained, prices in the corridor move north closer to Bommasandra or Chandapura. As one various room configurations as one moves towards the Central Silk Board. moves south of Attibele, it is observed that Sales Price Covered Area So an investor will get better value for money the floor area/built-up area of apartments are ( Lacs) (Sq.ft) in areas beyond Chandapura where prices are larger and there are 2BHK units with super 1 BHK 13-98 500-1000 affordable and developers are offering good built-up area of even 1600 sq ft. The corridor is 2 BHK 13-200 500-1977 area for the money invested. Typically Rs 40 affordable as one moves to interior areas such 3 BHK 17-300 650-3800 lakh which will buy a 1BHK unit near the start as Iggalur on Chandapura-Anekal Road where of Hosur Road will be able to buy a 2BHK unit a 1BHK unit costs about Rs 14 lakh. 4 BHK and Above 52-226 1872-3735 Best sectors to invest in a home Based on rental demand in sectors

Fig 5: Top 10 localities by consumer for renting a house ithin the corridor, the locality City Phase-I, Velankanni Tech Park, Infosys Electronics City Corridor has almost constant with the highest rental demand is and Wipro campus. Hosa Road commands the average rental yields in all localities, which Wsurrounding Electronics City. The area highest rental, as of now, with an average is around 4%. As one moves away from the has the highest demand of about 46% as it is rental value of Rs 24,000 per month for a corridor towards Hosur, property prices and close to work locations such as the Electronics 2BHK house. rental demand starts reducing. Based on home buying demand in sectors

Fig 6: Top 10 localities by consumer for buying a house 04 Corridor of growth (COG)

n the case of demand for home buying, and it is also a sought-after location by Layout and to Bannerghatta Road through Electronics City has the highest share. investors who can expect good rental commands the highest IThe next highest demand is in Electronics returns of 4-5%. Bommanahalli which is price. Since it is close to Central Silk Board City Phase-1. Most of the people working close to both Electronics City as well as and is located before the elevated expressway in Electronics City prefer to stay here Sarjapur Road Corridor through the HSR there is good demand from people. Best bedroom configurations to buy Preferred buying and renting options

Table 2: Demand distribution for buying and renting t is observed from the given tables that people looking to rent are considering 2BHK Buying Renting for rent 2BHK apartments are the most units. In fact, the 3BHK units are the second Total (BHKs) Total (BHKs) Ipreferred. The buying is also prefrerred most preferered localities in the corridor. Here, 1 BHK 3% 2% for 2BHK segment. According to the table, 47% people prefer 3BHK segment currently. 2 BHK 48% 52% 48% consumers are preferring to buy 2BHK The demand for ultra-luxury apartments category as the demnd is high there. From a and villas above 4BHK is only about 2-3% for 3 BHK 47% 43% sale perspective, both 2 and 3BHK units have renting and buying. 4 BHK and Above 2% 3% the same demand in this corridor. About 52% Price changes and future prospects Historic Price movement Corridor Average Price Rs/sqft Table 3: Historical Price changes

6 monthly change Yearly change 6% 14% lectronic City has seen that property prices have risen over the last one year Eat a steady rate. It is also one of the few corridors that have actually seen a price rise over the last one year in Bengaluru. It is also seen that price rise has been higher in areas closer to Central Silk board where new projects have been launched in the affordable and mid segment budget category. The trend is in confirmation to what has been seen in other areas of Bengaluru as well where prices have remained stagnant in the luxury and premium segment and the mid segment has seen highest consumer demand as well as price appreciation. Most of the people looking for property in these areas are typically employees in the IT/ITES companies in this corridor and are keener to purchase 2-3 BHKs Fig 7: Historical Price changes of corridor in the mid segment price range 05 Corridor of growth (COG)

Price movement for top localities by Consumer Preference he last quarter has witnessed the prices moving up for three of the five localities with high consumer demand. Bommanahalli and TElectronic City which have seen maximum number of new launches in the locality has also seen a steady appreciation of greater than 4% in the last quarter. Also over the last quarter about 1600+ units were completed and ready for possession in this corridor which has contributed to the increase in the price. Although significant number of top localities witnessed price increases this quarter, this has been against the continual drop in the average prices of localities in the last two years and the current rise in prices does not follow a long term trend.

Fig 8: Price changes in top localities by consumer demand

Master Plan

t is observed that large tracts of the corridor are designated for industrial and high technology Isegments. Closer to Central Silk Board, on either side of Hosur Road there are large areas earmarked for residential and mixed residential use. The corridor is guided by three different planning agencies such as ELCITA (Electronics City Industrial Township Association), BBMP and BMRDA - Anekal. In South Bengaluru, the corridor has acute water shortage, but projects such as KSWN ( State Water Network) in partnership with IT companies in the vicinity aiming at de-sludging the lakes in Doddathoguru and efficient ground water management have shown good results.

Fig 9: Land use of various localities in the corridor 06 Corridor of growth (COG)

Infrastructure Updates l As part of Metro Phase-II, a new line will l The 8-lane PRR - Peripheral Ring Road - and all plans to ease traffic at this junction be added to the existing green line which connects Hosur Road to Tumkur Road and have proved futile. Other than Hosur Main will connect Jayadeva Hospital Junction to passes through the Old Madras Road, KR Road, other roads are not well maintained as Bommasandra. This will cover most of the Puram and Bellary Road. This will provide the three agenices responsible for maintaining areas on the Electronics City Corridor and as seamless connectivity and allow vehicles the roads are always at loggerheads with per current estimates should be completed from plying to Mumbai, Pune etc from each other. by 2020. Heavy traffic logging on the Chennai and South Tamil Nadu to byepass There are a few malls which have been Central Silk Board Circle has now prompted the city. in the construction stage for a long time the authorities to include this corridor also A recent visit to the corridor revealed that but the progress has been very slow and as part of the Phase-III Metro work and there is a lot of activity happening in terms there is no sign of completion in the next RITES (a design consultancy firm) has been of residential spaces coming up. Electronics 3-4 years. Water scarcity has been a major entrusted the work to conduct feasibility City has traditionally been an area with a problem in this corridor and there are many studies to link the metro through this high concentration of office spaces. So, most apartment complexes that are ready-to- corridor to connect to North Bengaluru. people working there prefer to stay in BTM move-in but people are not occupying as the The Central Silk Board to Hebbal Line will Layout, Begur Road and other localities in the monthly maintenance charges are very high, be parallel to the ORR and cover areas Bannerghatta Road Corridor although these considering that most of them are serviced such as Sarjapur Road, Marathahalli and areas are far from Electronics City. Central Silk only by tanker supplied water. Mahadevpura Board continues to be a major traffic bottleneck IN NEWS Why you should invest on Hosur Road? Bengaluru demands more apartments Hosur Road, one of the main roads in Bengaluru, is known for its Electronic City is a fast emerging locality in Bengaluru. In fact, it is connectivity within the city, to the established suburbs and also to the preferred by the home buyers immensely. The area has majority of other cities in Tamil Nadu. Several factors make this location a highly young buyers looking for investible options. Whitefield, Sarjapur Road, active area for realestate development and investment. One of the Bannerghatta Road, Rajarajeshwari Nagar, KR Puram, Marathahalli primary reasons to live in Hosur Road is its emergence as the centre for and Kanakapura Road are some of the other preferred choices among residential, commercial and retail establishments. Living in proximity city buyers. But, the home buyers are showing keen interests for to the retail spaces such as hyper-markets, malls and convenience investing in the locality. Further, the reason for growth in demand in stores, has been constantly garnering attention of buyers. The demand the electronic city is enhanced metro network and improving social for housing is growing in Hosur Road and buyers are getting healthy infrastructure such as there are schools, restaurants, and other basic returns. It might be a good time to invest in the area to earn good amenities. returns and enjoy a high-end lifestyle. n Source: Magicbricks Bureau n Source: Magicbricks Bureau Hosur Road - An emerging retail hub Cyient sets up SMEC’s global design center in Bengaluru The primary driver for the emergence of Hosur Road as a commercial, Cyient has announced that it has inaugurated a new global design residential and retail centre is its efficient connectivity to Electronics center at Cyient’s Electronic City campus in for an Australian City as well as established suburbs of the city. Hosur Road connects consultancy firm, SMEC. It is an IT firm already operating in the city. the Outer Ring Road (ORR) to the NICE Ring Road, which provides The center will commence operations from July 2016. The facility that easy connectivity to other IT hubs, such as Whitefield, and also to is built and operated by Cyient is SMEC’s first offshore design center. the airport. Hosur Road, one of the first IT belts in the city, has, over The centre will support SMEC’s global design work primarily around time, turned into one such micro-market with retail growth pacing civil and structural, including building information modelling (BIM). up to match the requirements of the people. Moreover, the area has SMEC caters to varied sectors including transport, energy, water, sufficient land at competitive rates, civic infrastructure and favourable environment, health, education, and government advisory. government initiatives. n Source: The Times of India n Source: The Times of India MOST POPULAR PROJECT in Electronic City http://magicbricks.com/investment-hotspots/bangalore/electronic-city/

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