Bannerghatta Road—A case study for location driving real estate demand
October 31st, 2017
A couple of decades back the name Bannerghatta Road only meant State Highway No. 87 connecting Bangalore city to Bannerghatta National Park. Today, the same road hosts few of the top hospitals, schools, tech parks and residential buildings in Bangalore.
Bannerghatta Road is a single 50-km arterial road that connects Koramangala and Madivala to Jigani and Anekal cutting through Bilekahalli, Arekere and Gottigere. This stretch of road also touches important locations like BTM Layout, Diary Circle, JP Nagar and Jayanagar. Location wise, Bannerghatta Road starts from Hosur Road and branches off to run parallel along the Hosur Road.
Even in the early part of the new millennium, this southern part of Bangalore city was just a desolate suburb. The only landmarks were Indian Institute of Management Bangalore (IIMB) and Meenakshi Temple. The road condition was extremely non-commutable. That is when in 2004, a large group of students and staffs of IIMB and some 1500 residents went on a protest march to improve the road conditions. Things changed slowly but for better. The road was repaired within 10 days and Bannerghatta Road started getting a face-lift.
As time passed, lots of schools, colleges, fine dining restaurants and hospitals were built along this road. Top schools like Loyola High School, Ryan International School and BGS National Public School opened up. Bannerghatta Road now has three renowned hospitals—Jayadeva Hospital, Fortis Healthcare and Apollo Hospitals. Apart from schools and hospitals, there are numerous fine dining restaurants that have come up. There are a number of Tech Parks as well located in that same radius.
After the completion of NICE Ring Road connecting Jigani and Electronic City via Bannerghatta Road, this entire stretch has become a hotbed for real estate development. You can commute up to Tumkur Road easily through Bannerghatta Road—NICE Ring Road corridor. This connectivity of Southern Bangalore with the IT hub was a major boon to the techies. It became extremely easy for IT professionals with offices in Electronic City to commute through Bannerghatta Road—NICE Ring Road IT corridor.
Recently, the government has sanctioned the construction of Phase II Metro line and link Nagavara to Gottigere. As a result of robust infrastructure and availability of schools, hospitals and hypermarkets, Bannerghatta Road is witnessing a number of real estate developments.
Bannerghatta Road offers both luxury and affordable residential buildings to the city dwellers. As you drive more towards Gottigere from Bilekahalli you will find more and more high-rise apartments on either side of the road. The property price ranges between Rs.4,500/- per sq.ft. and Rs.6,500/- per sq.ft. Some cases the price is even higher. Places like Bilekahalli, Arekere, Hulimavu, Gottigere, Panduranga Nagar and Putenahalli (JP Nagar Phase VI and Phase VII) is seeing maximum real estate development. Villas and residential buildings are coming up fast offering the best possible amenities to the masses. With the property market slowly improving, the real estate developers are ready to walk the extra mile to make the buyers happy and get the latter their dream home in the best possible location on Bannerghatta Road.