Why North Bengaluru emerged as a very lucrative real estate hub?
October 20th, 2021
With the announcement regarding the development of a fully functional International Airport in Devanahalli & the overall thought process that the real estate industry has for this area has been revolutionized. Devanahalli is now the new and premium residential as well as commercial hub of Bengaluru. This is now referred to as “New Bengaluru”. This has presently become a dream of every real estate developer to own a parcel of land in this newly found dream location & that glorious journey has started by now.
Over the passage of years, Bengaluru, India’s Silicon Valley has strongly witnessed strong demand in the area of real estate. The people who are looking for the best and promising job and career opportunities prefer to settle down in Bengaluru as compared to other cities. The major boom witnessed by the IT sector has strongly provided a considerable boost in the sector of real estate for both residential and commercial properties.Initially people prefered the premium neighbourhoods of Central Bengaluru , however, in recent years, there has been a noticeable shift in the preferences and sentiments of potential homebuyers. More and more potential homebuyers are usually preferring to shift from the major hustle & bustle in the main Bengaluru city and thus the overall demand for plots for sale in Devanahalli in Bengaluru is increasing day by day. Here are the reasons why Devanahalli plots are witnessing a steep demand curve.
Reasons why plots for sale are high in demand in Devanahalli
- Industrial hub – Several top IT parks just like International Tech Park, the Aero SEZ and Hardware IT Park are located in Devanahalli. This place is developing as a very good and attractive technological hub within the suburbs of Bengaluru city. There are several upcoming IT hubs and parks like the Science Park and Financial City that would make Devanahalli an even more lucrative area to stand out. There are several projects that would attract more and more prospective investors and the workforce. The Bengaluru Aerospace Park has been planned across a widespread land of 950 acres, including the SEZ of 250 acres. This special economic zone has several top-notch companies like Airbus and Boeing. This would create more and more job and career opportunities in this area resulting in an increased demand for residential homes.
- Connectivity –Devanahalli is connected by 8-lane National Highway and there would be metro connectivity soon. A hyperloop corridor between KIA and the city center is being built that covers 40 kms in just 10 minutes. All of these would result into excellent connectivity of Devanahalli with the rest of Bengaluru. The metro segment of ORR-Airport is also about to initiate from 2024 and contribute to the great connectivity of this particular region.
- Better prices – This is the right time to purchase plots for sale at Devanahalli as the prices of the plots are comparatively much lower as compared to the other parts of the city. However, with upcoming projects like the IT parks and the extended metro lines, the prices of the plots are likely to rise very soon. So, if you are looking forward to investing in a property, then this is the right time as the appreciation of land in Devanahalli is excellent. The residential properties in the vicinity have witnessed an appreciation value of 12-20%. So, it is obvious that the plots for sale in Devanahalli would have high appreciation value.
After going through the above pointers, you are now aware of the reasons for which Devanahalli is primarily emerging as a very popular and famous real estate hub and thus purchasing a plot here would be an extremely profitable proposition for you.