West Bangalore Offers High Potentials for Growth

Bangalore is one of the fastest growing cities as evident from the fact that capital appreciation is the highest in Bangalore. Being driven prominently by the IT industry, the growth of the sector is also empowering the growth of housing demand. As more numbers of people migrate to the city for jobs, the demand for housing would be on the rise. Most people usually prefer staying in North Bangalore because of its proximity to the International Airport and other IT SEZs, south Bangalore too is quite prominent.

Western Bangalore took some time to become prominent but now there is no stopping it. The area has spread wide and far and much beyond the borders of traditional neighbourhoods such as Vijayanagar, Rajajinagar and Yeshwantpur.  The upgraded Bellary Road has improved connectivity of West Bangalore to North. The elevated expressway goes through the outskirts of the west and the Tumkur highway. Important locations of the North East are connected to West Bangalore via metro railway. The improvement in connectivity has led to increase in the speed of development of this area.

Property in Bangalore

  West Bangalore was earlier occupied by industrial and trading activities because of its connectivity inter-state through the Yeshwanthpur Railway Station and Kempegowda Bus Station in Majestic.  As both the railway station and bus terminus was in the west, industrial activity too was concentrated here. The capital appreciation of the area has happened mainly because of its closeness to the Central Business District comprising of Ulsoor Road, Richmond Road and Vittal Mallya Road etc. The transformation has happened only in recent times.

Growth and Metro Connectivity

The time taken to commute is mainly the deciding factor when someone chooses a home rather than the distance required to be covered. West Bangalore has benefitted greatly because of the presence of the metro railway. When this line gets connected to central hub, the acceleration in priced would be more rapid. Prior to the opening of the metro railway, the capital values in the region were around Rs 5000 or so. However, after the metro railway line was inaugurated, it shot up to Rs 8000 or so.

As Bangalore is a radial city, its growth has been in every direction. Therefore, connecting various areas with one another becomes a big hassle because of the growth in traffic every day. Even though roads are being widened, it won’t prove to be sufficient for the rise in traffic. Hence, the metro railway and the elevated roads are the only source of respite for easy commuting and improved connectivity.

Areas in the West would be much benefited by the metro and hence its growth would be fuelled further. Jalahalli, Magadi Road, Tumkur Road, Yeshwanthpur, Vidyaranyapura, Abbigere and Nelamangala shall benefit a lot from the connectivity via metro railway. The presence of good social infrastructure such as malls, hospitals, schools and colleges have also helped the area turn into a residential hub.

Pricing and Options

For a 2BHK property in Bangalore West whose size is greater than 1100 sq. ft., buyers will have to pay Rs 75 lakhs or so in Yeshwantpur. Three bed room apartments whose sizes are around 1850 sq. ft. cost a little more than Rs 1 crore while 4BHK flats in West Bangalore measure around 3100 sq. ft. and their price is roughly Rs 2 crores. Magadi Roads also has 2BHK apartments on offer which are sized a little more than 1000 sq. ft. and available for Rs 28 lakhs. For 3BHK flats which are around 1400 sq. ft., Rs 40 lakhs have to be shelled out. Nelamangala also has 2BHK flats on offer whose sizes begin from 700 sq. ft. or so would cost one around Rs 30 lakhs while for 3BHK flats whose sizes are around 1300 sq. ft., the price is around Rs 55 lakhs.

Tumkur Road has 2BHK apartments of 800 sq. ft. size starting at Rs 35 lakhs or so. The 3BHK flats which measure 1200 sq. ft. in size shall cost one Rs 50 lakhs or so. Jalahalli has 2BHK property in Bangalore which is around 1050 sq. ft. for Rs 41 lakhs whereas the 3BHK apartments which measure 1500 sq. ft. cost Rs 60 lakhs or so. Near Malleswaram, the 4BHK flats are available from Rs 3.5 crores and they measure 2800 sq. f.t

A lot of developers are starting off on niche projects near the Yeshwanthpur Metro Station. Two malls in Yeshwanthpur and Malleswaram provide for the needs of residents in West Bangalore while some projects close to the highway are being developed to have a retail and residential mix in future. Kengeri and Bidadi are also areas to look out for as they will come up as investment locations that offer good connectivity. Connectivity in these areas would get a boost primarily as they would be located near Mysore and the Bangalore Mysore highway is being planned to be widened. The connectivity to the satellite town via the Phase II of the Metro Railway shall also benefit Kengeri.

Dynamics for Demand 

The price of ultra luxury and luxury apartments is around Rs 10000 to Rs 15000 per square feet and they are available in Yeshwanthpur and Rajajinagar. The mid segment luxury apartments close to Yeshwanthpur Metro Staion are available in the Rs 6000 to Rs 8000 per square feet rate. The mid segment apartments in Rajarajeshwarinagar and Vijaynagar are available in the Rs 4000 to Rs 5000 per square feet rate. 

The price bracket of Rs 50 lakhs to Rs 1 crore is the safest market for catering to. Most of the demand for the Rs 1 crore flats comes from traditional businessmen, traders and industries while those employed in the IT and MNC companies look for middle segment apartments here. Top executives of MNCs and industrialists in this area look for residential options which cost more than Rs 1 crore.

Final Word

Realtors agree that there is tremendous growth potential in West Bangalore. A lot of premium apartments are expected to be constructed in this area because the elevated demand from the wealthy segment. The suburbs of Jalahalli and Tumkur Road have the potential of developing in residential hubs in the coming future. If more infrastructure projects are planned by the government here for the improvement in connectivity, the growth patterns of this area would become similar to that in North Bangalore. This would be the next best location to live in then.