Corridor of growth BANNERGHATTA ROAD Corridor Description and Rating Areas Included: Bannerghatta Road, , , , Koppa, Begur, Begur-Koppa Road, Kalkere, and JP Nagar 9th Phase

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

About the Corridor annerghatta Road, which extends and is close to work locations on Sarjapur realignment in process. The corridor is close from Jayadeva Hospital Circle to Road, and Electronics City. to the existing green metro line which passes Bannerghatta National Park is located through . B The corridor is well connected to rest of in South Bengaluru. This is a completely Bengaluru by the Bannerghatta Road which The corridor has equal supply of 2 and 3BHK residential corridor that has a lot of demand connects to the CBD. The NICE Road connects formats and a supply which matches the from residents looking to live close to Central the corridor to Tumkur Road, Mysore Road, demand. There are a few luxury villa projects Bengaluru. A linear corridor which stretches Kanakapura Road and Hosur Road. The corridor as one moves towards Jigani but the demand for a length of about 28-km and has localities is strategically located between the Hosur is generally low for luxury villas. Luxury and on both sides of the Bannerghatta Road. It is Road on the east and Kanakapura Road on the ultra-premium 3 and 4BHK units have good close to some of the costliest residential areas west, thus, providing best access to both these demand at the start of the corridor close to the in Bengaluru such as Jayanagar, JP Nagar and roads for people living here. IT offices and near BTM Layout and JP Nagar. BTM Layout. The corridor has the widest range of properties Bannerghatta Road on the corridor has the The corridor witnessed an influx of people available in terms of affordable plots as one highest traffic density during peak hours wanting to reside here during the initial IT moves towards Jigani and Koppa to high-end and since there is no other parallel road, boom in the city. The area had a good talent ultra-luxury apartments close to JP Nagar and this is a major bottleneck. Since most of the pool as many engineering colleges are in Jayanagar near Bannerghatta Road. development was during the IT boom and was and around this corridor and that led to done hastily, the infrastructure has not kept concentration of IT firms here. Most of the big Currently the road is not covered in the pace and most approach roads are narrow IT companies have had their first offices on network, but the red line that and choked at many intersections. Although this road and many of them continue to hold will be added soon will connect Gottigere to there are large forest areas towards the onto these smaller spaces even though they Nagawara. This is a 21.25-km long line that Bannerghatta National Park, the road is mostly have large office spaces in other corridors of passes through Bannerghatta Main Road devoid of green spaces in all other areas. Bengaluru. Currently the corridor is in demand all the way until the Jayadeva Hospital. The as it has a well-developed social infrastructure project has been delayed as there is some

Overall Connectivity Social Infrastructure Security/Water

Properties available in the corridor he corridor offers a wide range of the premium and luxury segments. This is due shows that 52% properties in the corridor are properties in price segments from to the fact that most of the people buying 2BHK units and 43% are 3BHK units. Most of Taffordable to premium. Although 40% property in this corridor are those who want to the available supply in this corridor is catering properties fall in the category of Rs 40-60 lakh, stay close to the CBD areas but want properties to both these segments. Interestingly Fig 3 almost 44% properties in the corridor are in at more affordable prices than CBD prices. Fig 4 shows that 60% of the property in this corridor

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 is in the ready-to-move-in category. In fact, good area for the money invested. So, typically various room configurations many developers would be ready to dispose Rs 40 lakh which will buy a 1BHK unit near Sales Price Covered Area the ready-to-move-in inventory at the earliest. the start of Bannerghatta Road will be able to ( Lacs) (Sq.ft) buy a 2BHK unit closer to Jigani. As one moves As explained above prices in the corridor move 1 BHK 12-48 515-1000 south of Kalkere, it is observed that the floor north as one moves towards the CBD. So an area/built-up area of apartments is larger and 2 BHK 17-200 600-2760 investor will get better value for money at there are 2BHK units with super built-up area 3 BHK 24-350 900-4185 areas beyond Gottigere where prices are much of even 1600 sq ft. 4BHK and Above 51-475 1815-5000 more affordable and developers are offering 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 with accommodation. Rental yield shows the From the graph, it is evident that properties the highest rental demand is on the amount of rent that can be generated from closer to Begur, Hosur Road and Gottigere, WBannerghatta Main Road. Overall a property in a year in terms of sale price. which is nearby to NICE Road, command better this is the most sought-after destination Bannerghatta Road Corridor has an average rental yields. with almost 70% demand for rental rental yield ranging from 3-4% in all localities. 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, prefer to stay here as it is very close and also facility as compared to other corridors. Most Bannerghatta Main Road has the highest has an alternate link road to Electronics City. parts of the road are serviced by BWSSB Ishare. The next highest demand is in Begur In Bannerghatta Main Road, 2BHK properties ( Water and Sewerage Supply Board) Road which provides good connectivity to fetch good rental returns and have limited and in other areas the ground water level is Electronics City. People working in this area availability. The road also has better water not too below the ground level. 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 category. About 61% of the consumers are Buying Renting for rent 2BHK apartments are the most interested in the 2BHK units for rent and the Total (BHKs) Total (BHKs) Ipreferred, but from a buy perspective, both 2 3BHK demand distribution for rent is 34%. The 1 BHK 3% 2% and 3BHK units have the same demand in this demand for ultra-luxury apartments and villas 2 BHK 48% 52% corridor. About 48% of the people looking to above 4BHK is only about 2-3% for buying and buy and 52% looking to rent are considering renting. The home buyers are preferring to buy 3 BHK 47% 43% 2BHK units. Moreover, the demand for rent and rent in this corridor. 4 and Above 2% 3% in the 2BHK segment is more than 3BHK Price changes and future prospects Historic Price movement Corridor Average Price Rs/sqft Table 3: Historical Price changes

6 monthly change Yearly change 3% 6% annerghatta Main road corridor has seen an average appreciation over the last one Byear. It is observed property prices have been stable in the first half of 2015 and that prices have appreciated after the 2nd quarter mainly due to the launch of two large multi storey apartment projects by Tier 1 developers in the corridor. Overall the corridor has seen a price rise of 6% over the last one year. The demand is mostly by employees in the IT/ITES companies working in the corridor who prefer to live in and around this corridor which has good social infrastructure.

Fig 7: Historical Price changes of corridor 05 Corridor of growth (COG)

Price movement for top localities by Consumer Preference he last quarter has witnessed the prices moving up for three out of the top localities by consumer demand. Areas such as Hulimavu and TBannerghatta, which have significant consumer interest has seen that the prices have increased by 3-6%. In Hulimavu the price change is mainly due to a new project launched here with about 900 units in the mid segment budget and in Bannerghatta which is close to the and Jigani, due to a constant demand for affordable plots approved under the Anekal planning authority. Begur and Gottigere are other two areas where a large number of properties are ready for possession and lot of investor units are up for sale. This has dragged down the prices although there is still significant

Fig 8: Price changes in top localities by consumer demand consumer demand in these localities.

Master Plan

t is observed that large tracts of the corridor are designated as primary residential areas. IBoth sides of Bannerghatta Road has areas earmarked for commercial development due to which prices are high on this road. Beyond Gottigere, where the NICE corridor intersects the Bannerghatta Main Road, vast areas are marked for forest and a green belt region. There are no large areas earmaked for High tech or other industrial areas. Due to this the area has seen most of the initial IT/ITES companies that setup offices here, moving to other corridors such as Electronics City and Sarjapur Road. These have large SEZ and high tech industrial areas which provide better sops to companies than operating from independent office spaces.

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

Infrastructure Updates l As part of Metro Phase II, the Nagawara- already started to get water supply as well there are no alternate parallel roads and people Gottigere line will link metro to this although a tad irregular. will have bear with the traffic issues. Alternate corridor. The work on this stretch has modes of transport such as metro has been A recent visit to the corridor has revealed slowed down as there is some realignment going very slow and with the latest plan to that there is a lot of activity happening in at the Jayadeva hospital junction. reallign the metro in order to avoid disturbing terms of residential spaces coming up. But the Jayadeva hospital area has added more l There is a plan to widen the existing four there is a general doubt in the investor if delays to the much awaited Nagawara- lane Bannerghatta road into a six lane road the infrastructure in the area will keep pace Gottigere line. but the plan has been stalled many times with all the development in the corridor. The due to protest from residents on both sides corridor will witness the completion of almost All these factors combined with the movement of this stretch. close to 12000 units by the end of 2016 which of the IT/ITES offices to much affordable areas are main multi storey buildings. This will put such as North Bengaluru and Electronic City l As part of the Cauvery phase IV plan the more strain on the already poor infrastructure have further reduced the attractiveness of the corridor has been connected by Cauvery and Bannerghatta main road will be the single corridor from investment perspective. pipeline in most of the areas until Gottigere point of roadblock and traffic jam. Currently and many houses and apartments have IN NEWS IT, retail hubs drive growth on Bannerghatta Road in the south such as , JP Nagar, BTM Layout, and through NICE Road to other arterial roads and the peripheral locations. Bengaluru South witnessed the beginnings of the IT sector, with the Infrastructure projects are being planned to boost development of the first IT cluster at Electronics City. The Outer Ring Road (ORR) played a area. The government has invested money to widen Bannerghatta major role in making areas considered peripheral in early 2000 easily Road. accessible for corporate to set up business. Bannerghatta Road, linked to the city centre through Hosur Road beginning at Vellara junction, n Source: The Times of is the main link to the IT hubs dotting the road from the Dairy Circle Affordable housing market grows in Bangalore flyover. It also connects to Koramangala and BTM Layout, the key residential and retail belts. This has led to its turning into one of the Infrastructure has been the most significant determinant of growth in earliest key routes of the city. This kind of development is driving the peripheral areas of the city. Good connectivity as well as allocation growth of the area. of land by the government for commercial and industrial growth led to development around 15 km away from the city centre. The next n Source: The Times of India phase of development is now taking place 30 km and beyond with Metro rail will open up new areas improvement of national highways, road widening projects and elevated expressways. It has led to the rise of the affordable housing The Metro corridor has undoubtedly created a positive impact on the market in the city. realty growth in its periphery. The presence of metro is making the area quite convenient to commute. The metro is well-connected to the n Source: Magicbricks Bureau new and upcoming areas, which is helping to attract home buyers. What makes Bannerghatta Road attractive for buyers The impact of metro will be more visible only when the entire stretch is operational. The realty growth in these regions is witnessing more Bannerghatta Road has wide variety of residential offerings which vertical development, mixed land use as well as integrated township support the extensive growth of the office space market. Efficient developments. The Metro connectivity will add advantage to this connectivity is set to fuel further growth in this belt. With its start at connectivity from the railways and roadways. Hosur Main Road, Bannerghatta Road branches off and runs parallel to it. It is one of the first IT belts to develop into a flourishing catchment n Source: The Times of India area with commercial, residential and social infrastructure retail, Infrastructure push for Bannerghatta Road localities options in schooling and healthcare. Locations on Bannerghatta Road will benefit from a swift commute thanks to a new Metro line that will The projects on the anvil to enhance connectivity will lead to more link Nagavara to Gottigere in Phase II. development in the vicinity. Bannerghatta Road, one of the busiest roads in the city, connects the core city areas to prominent locations n Source: Magicbricks Bureau MOST POPULAR PROJECT in Bannerghatta Main Road http://magicbricks.com/investment-hotspots/bangalore/bannerghatta-main-road/

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