Lots of greenery, adequate water, widening of roads, quick access to the airport… Hennur Road has got everything right now, saysR.Y.N. Rao
What was once considered the outskirts of Bangalore is today well within city limits. Expansion of the city has brought several areas of the city under its wings and newer areas of settlement are constantly on the horizon. One such upcoming stretch is Hennur Road where several opportunities of real estate investment are gradually opening up.
Hennur Road begins right from Lingarajapuram entry and goes all the way up to Bagalur Cross. The Marathahalli to Hebbal Flyover bisects Hennur Road, and all localities within a 5-km radius including Kalyan Nagar and a part of Banaswadi are part of the Hennur Road stretch.
For the high-end too
These areas were once considered to have housing opportunities only for the lower and mid-segment buyers. But today, even high-end builders are keen on having their projects here. Amongst the advantages of the area is the peace and tranquillity it affords. Before the coming up of real estate in the area, large parts of Hennur Road consisted of grape gardens, orchards and the like. These have gradually reduced in number, thanks to constructioins. Despite this there are still several large pockets of greenery in the area. This is primarily because not all green areas could be converted into residential land.
Connectivity too is quite good in the area with lot of roads being converted to 100 ft. versions. Commuting has become easier, thanks to road expansion works. Also, with work on the ORR underpass going on, the stretch from Hosur to the airport will soon be a signal-free corridor. With the elevated road at Hebbal, this entire stretch soon stands to be signal-free and easy to commute on.
Though the reach of the Metro has not been planned for this area yet, it will not create a hindrance in commuting because of the four-lane road that is currently in progress here. This will ensure that one reaches the international airport within half-an-hour, especially from the Marathahalli stretch.
Water copious, as of now
As far as infrastructure goes, at present, because of the area's history with orchards and gardens, the water table is excellent and enough for the surrounding localities. Once Cauvery Phase II is commissioned, this area will be completely covered. Water, however, can be an issue in the future.
Currently, land prices closer to the ORR range between Rs.3,000 and Rs. 5,000 per sq.ft. Moving a little away from the ORR, prices stand at around Rs. 2,000 and Rs. 2,500 per sq.ft. And as a thumb rule, land prices are nothing less than Rs.1,500 per sq.ft from Hennur to Bagalur. Apartment prices in this part of town will be in the range of Rs. 2,600 to Rs. 4,000 per sq.ft. This depends on the quality of the building and amenities on offer. Rates for commercial leasing range between Rs.30 and Rs. 65 per sq.ft. This once again depends on the nature of the shell as well as the visibility of the building.
This area has immense scope simply because of the number of orchards that have now been converted into usable land. This has opened up a land bank for prospective builders and many have invested in the area. There aren't many entertainment options right now like malls and therefore there is scope for them as well. There will be more of these coming up soon to cater to the demand.
(The author is Head, Sattva Real Estate Solutions, a real estate market research division of Sattva Group)