Key Highlights in North Bangalore
1. Bangalore Aerospace SEZ: 950-acre Bangalore Aerospace Park including 250-acre special economic zone (SEZ) has attracted investments from 56 large and mid-sized companies.
2. Devanahalli Business Park: 413-acre Devanahalli Business Park expects to attract an investment of $2.2 billion over the next three to five years.
3. BIAL IT Investment Region (ITIR): 12,000-acres dedicated land for BIAL ITIR has generated interest from over 55 multinational IT companies including Infosys, Wipro, TCS, and Cognizant
4. International Convention Centre: Bangalore International Convention Centre will be built on 35 acres of land next to the Bangalore International Airport through a public-private-partnership (PPP) model.
5. Bellary Road: Bellary Road ( NH‐7) from existing 6‐lanes getting widened to 8‐lanes, which would sustain higher traffic due to airport expansion and expected real estate developments on either sides of the NH‐7.
6. Nano Park: Government of Karnataka is planning to set up India’s first Nano Park with a 15 acre plot for the park containing Nano Incubation Centre along with necessary physical infrastructure and support systems.
Only a few cities in India have the ability to attract and encourage people to settle down permanently. Bangalore is one such city which has inspired visitors from all over the world to relocate themselves here. Popularly recognized for its excellent weather, now it is known as the “Silicon Valley of India”. The areas of Bangalore are known distinctly as Central Bangalore- the commercial and business hub; North Bangalore- the government establishment center; South Bangalore — the residential zone and Eastern Bangalore — the torch bearer of the IT revolution. But, this classification is soon changing through the rise of North Bangalore.
Is North Bangalore becoming the next big investment hub?
Indeed, Bangalore is now witnessing a new reformation and it has started in North Bangalore region. This region is the focus of attention ever since the operation of the Kempegowda International Airport in the year 2008. It is the fastest growing region in the city and is becoming the next residential and commercial destination. Proximity to the Airport, Availability of Space, Upcoming Tech Parks, Improved Connectivity and Real Estate Development are the major factors of increasing demand in this region. The prominent locations of North Bangalore are Devanahalli, Hebbal, Doddaballapur Thanisandra, Hennur and Yelahanka. Bangalore, housing more than 900 IT firms, currently employs about 35% of India’s IT professionals and fortunately, this scenario is also soon going to change. Experts have predicted that it is the right time to invest in North Bangalore for gaining maximum returns.
Famously known as the birthplace of Tipu Sultan and the site of Kempegowda International Airport, Devanahalli is now the next big commercial hub of Bangalore. It is gaining a lot of attention due to multi-billion dollar investment proposals and reasonable property pricing points. Additionally, companies and families are shifting their base to this area as it is free from the chaos and congestion, not at all like Bangalore City.
Reason to Invest:-
· 5 Kms distance to Kempegowda International Airport via NH7.
· A new satellite ring road will connect the city with Doddaballapur road.
· A Multibillion-Dollar Devanahalli Business Park initiated by State Government coming up on nearly 413 acres next to the airport which will include : IT & ITes parks/SEZs, three multi-specialty hospitals, a finance district, an aviation academy and Bengaluru International Convention Centre (BICC)
· The BICC will be ready soon.
· Devanahalli is situated near the upcoming 12,000-acre BIAL IT Investment Region (ITIR) and is expected to be the largest IT region in India housing big shots like StarragHeckert, Wipro, Shell, Tata Elxi, IFCI and TCS which would create nearly 4 million jobs.
· Shell and IFCI campuses will be completed soon.
· 950-acre Bangalore Aerospace Park including 250-acre special economic zone (SEZ) with Boeing, Airbus and Bombardie will be creating nearly 2.5 Lakh jobs
· Social Infrastructure nearby: Popular hospitals and Malls like Columbia Asia Hospital and Phoenix Market City Mall. Upcoming Hotel projects include Oberoi at Bangalore International Airport and Taj Airport Hotel and Holiday Inn at Devanahalli.
· Infosys Technologies has acquired 10 acres of land in the Devanahalli area.
Experts say Bangalore has a stable Real Estate market as it has not seen extreme fluctuations and has steady prices. The North Bangalore is considered as the future of Bangalore realty market since it is blessed with the good connectivity, green surroundings, available land for developments and range of properties (from plots to integrated townships) available for all income groups. The key drivers of the residential growth are: — proposed Devanahalli Business Park, Information Technology Investment Region (ITIR) near Devanahalli, Planned Aerospace SEZ near the International Airport, Elevated Expressway (Bellary Road), Bangalore Metro Rail, High-Speed Rail Link and Peripheral Ring Road.
In conclusion, the arrival of the International Airport has flourished North Bangalore in the last decade and this region is bound to develop more in the coming days, thus making it a fantastic investment destination.