The Sarjapur Road Outer Ring road region is increasingly becoming the second IT corridor of Bangalore, after Electronic City. Real Estate developments are heating up around Sarjapur Road, whitefield and other areas in and around the outer ring road are witnessing a rapid growth in development now, on account of its proximity to the IT clusters around Madiwala, Outer Ring Road (ORR), Whitefield and the Marathahalli-Sarjapur stretch, as also commercial developments along the road.
As infrastructure in the area has been improved in the recent past and with the Metro Rail alignment in the second phase looking to pass through Whitefield, the growth in the area is going to be phenomenal.
Adding to the number of companies located in the area, the proximity to the suburbs makes it a preferred option for living. The recently constructed flyovers in the area have only added to the billing of the location. No wonder, quite a few real estate developers have backed the area by launching their projects over the past few years. The area currently boasts of upcoming residential projects of major developers such as Shobha Developers, Puravankara Projects, Mantri Developers, Prestige Constructions and Adarsh Developers.
According to a recent survey conducted by authenticated source, It was observed that the maximum projects were distributed along the IT belt in the South/East sectors and also along the New International Airport, in North Bangalore. The market is witnessing a gradual but steadily improving trend. The coming months would decide the pace of growth of residential property market.
In fact, the Bangalore Development Authority's proposed Hi-Tech city is expected to come up between Sarjapur Road and Hosur Road. Hi-Tech city will have more than 100 offices, including Infosys, and is expected to provide employment to lakhs of people.
Infosys has acquired 300 acres in the area to set up an IT SEZ, which is expected to become operational this year. Analysts say Infosys' announcement about its project triggered developer activity, anticipating greater residential demand.
BDA has also planned for a large residential development on the area from Varthur Road to Sarjapur Road and Hosur Road which will cater to 1, 63,589 housing units and 11,560 sites.
The Empyrean is Bengaluru's FIRST TRULY INTEGRATED SUBURBAN TOWNSHIP spread across 230 acres, surrounded by 212 acres of green reserve and water bodies is also situated in the same locality.
There are close to 2lakh employees working in the ORR stretch. So Sarjapur Road is emerging as a busy IT corridor. It has a good mix of educational institutions and retail outlets. Many hospitality players like Hilton, Shangri-La and Novotel are coming up on Sarjapur Road.
The total Grade A office space on the adjoining ORR was 20 mn sft till last year. An additional supply of 3.93 mn sft is expected this year, according to a report by real estate consultancy Cushman & Wakefield.
The road has been recently widened to a four way lane and road laying works have been completed. Sarjapur is located on the NH 207 which is being given the highest priority by the Government to link Electronics City and Whitefield to the New Airport at Devanahalli through Hoskote. With All Amenities that set you free.
A continuous growth in the region and strong demand of real estate in all type of properties have ensured that Sarjapur Road has housing for all needs, the capital values of residential projects on the Sarjapur Road have registered a consistent growth. For those who have bought residential properties, the investment has been worthwhile. And with more infrastructural work under way, residents expect another round of construction boom, which, in turn, would see further appreciation of investments.
Sarjapur has emerged as commercial, residential, and retail hub. High-end residential apartments, villas, and row houses have mushroomed in and around the area. The region is still growing. It will not be too optimistic to expect more property appreciation in the coming years.