Why Old Madras Road Is The New Epicentre of Real Estate Boom
The sporadic growth spurts in the micro market of East Bengaluru since 2016 have drawn the attention of investors to the region in the past years. With the upgraded infrastructure and new development policies for the location, the place is all set to be the future of the real estate.
The city of Bengaluru is the nexus of technological progress in the country. To achieve maximum retail success investing adopting a strategic approach is a must. Exploring the growth sector on the eastern front of the city – Old Madras road is a perfect example of the same. The pandemic hampered the growth by a few but even then, the area was a hit amongst buyers.
Read the two-step analysis to understand why this locality has to be your next investment
Location Advantages:
It is important to note how the whole society worked
- Interstate Network
The arterial connectivity of this location with NH4 makes it integral. This is the one way that connects prime cities like Pune, Mumbai and Chennai to Bangalore. The road was built to augment the trade with nearing states and cities. Consequentially the road has evolved into a booming hotspot of development at par with developed localities.
- Arterial Connectivity
Localities near Old Madras Road are sitting right at the juncture of all prominent roads. Some roads intersecting in this region connect to Whitefield, MG Road, Koramangala and CBD are amongst the most important ones. It is also well-connected t the airport and railway station. Airport buses ply throughout the day which provides further convenience to the residents in the location. The proposed Peripheral ring road shows that the locality foresees only growth in this times.
- Infrastructural Superiority
Infrastructure makes this location the most desirable in the region. The well-defined commercial market has pushed the residential development of the city. The residential hub demands the region be abundant in public services and social amenities. Around 7 hospitals including MVJ Medical College and Research Hospital, Hoskote Mission Medical Centre and KR Puram Specialty Hospital are easily accessible. Garden City College, The Brigade School, DPS Whitefield are some educational institutions in the region. Popular and nearest Supermarts in the region are Safal, Star Bazaar, Orion Uptown, etc.
- Thriving Technology
A tech hub attracts home buyers for the opportunities in the locality. The whole belt of OMR has about ten IT hubs. They include Shell New Technology Centre, Aerospace SEZ Zone, KIADB SEZ Zone, Bearys Global Research, Brigade Metropolis, ITPL, EPIP Zone, RMZ Infinity, Manyata Tech Park and Narsapura Industrial Hub. The location is expected to provide 3000 plus jobs in the coming years. It will only turn more eyes to the location bringing better returns to your investment.
- Residential Market & Price Trends
Many renowned developers have launched their projects in this area. In the last few years (except 2019) this area has held about a 15% share of the total launches in the city – sometimes even reaching 28% (2020.) Most properties – about two-thirds of all the launches- have been mid-segment properties ranging from ₹40 Lakhs up to ₹80 Lakhs.
In the last few months launches had higher ticket-size projects. Ranging from ₹80 Lakhs to ₹1.5 Cr. It is the most profitable segment to invest in the market currently Brigade Calista is one such project which brings a holistic mix of a top name, high-class provision and spacious homes.
The market has observed a whopping 13% increase in prices. Eventually, in the last quarter of 2022, the average price was ₹5,371 per square foot. Budigere cross being teh one with the HAVG (highest average value growth.)
The aforementioned factors prove why this locality should be on top of your check list. Further, if you are looking for a particular investment option, the best residential project on Old Madras Road is Brigade Calista.
