That the IT boon resulted in Bangalore's real estate growing exponentially is no hidden secret. Several areas once considered sleepy hamlets were given a complete makeover by the entry of several IT-based companies. One such locality is Marathahalli. Considering its proximity to the Old HAL Airport which was an essential part of the IT boom in the 90s, several technology-based companies decided to make their presence felt here. With the Outer Ring Road passing right through the heart of Marathahalli, connectivity was never an issue.
Today, approximately 20 million sq. ft of commercial and retail space covers the Marathahalli area. A sizable chunk of the Marathahalli-Sarjapur stretch is covered with IT companies and approximately one lakh IT-related employees work in the area. This makes the development of any residential project hot property in the area. Marathahalli today can be considered an extension of the main city of Bangalore. There are several people who prefer its central location to Whitefield and that has also given a fillip to the area.
Looking closer
Every builder worth his salt has a presence on this stretch. Though the main roads are largely saturated, the adjacent and inner roads are open to construction and there are several projects coming up here and are being lapped up by the public.
Of course infrastructure is another aspect that needs to be looked into. As such most builders make their own arrangements for the provision of power to their projects. Power lines are drawn from nearby substations.
As far as water is concerned, despite the demand in the area, it is not yet connected with the Cauvery water supply network. Promises of beginning the supply this year may be delayed till 2013-14. Though contractors have been hired for the job, the going is rather slow.
Traffic snarls are common in the area but this is largely due to the construction activities that are taking place. As and when projects are completed, these bottlenecks will clear up for themselves. With the completion of service roads, a signal-free corridor will be built which will add to the connectivity factor. Roads are rather congested right now especially around the Marathahalli-Sarjapur junction. If more attention is paid to the improvement of public transportation, considering the large techie population, there are chances of an improvement in the traffic flow.
Civic amenities are not in place right now and most home owners make their own arrangements.
Good retail infrastructure
There are several good schools such as Ryan International School, Air Force School and Greenwood High on the Sarjapur stretch. Fortis Hospitals and VIMS specialty hospitals ensure that medical care abounds.
Innovative Multiplex was Bangalore's first multi-screen set up and came up in this area. It has massive retail infrastructure ensuring the area is self- sufficient.
Marathahalli can be viewed as a bridge between Whitefield and the rest of Bangalore. The quality of the constructions coming up here is top notch and you get your money's worth.
Should the government complete its end of the bargain as far as work on bridges and side roads goes, Marathahalli will be an ideal location to live in.
(The author is the Head, Sattva Real Estate Solutions, a real estate market research group. He can be reached at mahesh@sattvagroup.in)
