A suburb located in North Bangalore, Devanahalli is one the fastest growing localities, housing more than 200 residential projects in its vicinity. Famous for the newly built Kempegowda International Airport, Devanahalli is rapidly developing as an industrial and technology hub in Bangalore. 99acres.com brings you the factors behind the augmenting popularity of the region.
Devanahalli, situated in the north-eastern part of Bangalore, is experiencing massive real estate growth owing to the presence of the newly constructed international airport. Comprising of a well-established social infrastructure such as schools, hospitals and recreational centres, Devanahalli is one of the most sought-after residential and commercial areas in the city. The projects in the locality are priced competitively, and the land parcels are relatively affordable than rest of the other suburbs in Bangalore such as Kogilu, Sahakara Nagar and Yelahanka. Residential units in the locality are priced in between Rs 4,300-Rs 5,100 per sq ft. Presence of a large number of temples in Devanahalli makes it a popular tourist attraction as well.
Here are the top three reasons to invest in Devanahalli:
Transport and Connectivity: Devanahalli enjoys excellent connectivity to prime areas of the city via NH-7 or the six-lane Bellary road. The Bangalore Metropolitan Transport Corporation (BMTC) further operates several buses in the area to ease the traffic woes of the commuters. In addition to these, the locality is also well-connected to Yelahanka and the main city by railways. Presence of the international airport further adds to the charm of the locality.
Industrial hub: Owing to the presence of some of the leading IT Parks such as Hardware Tech Park, Aero SEZ and International Tech Park, Devanahalli is steadily emerging as a major technological hub in Bangalore. A Science Park and Financial city are also expected to come up in the region soon. Other than these, the locality is also the home to various acclaimed names such as TCS, Infosys, and Wipro.
Presence of adequate social infrastructure: Devanahalli benefits from a well-established social infrastructure comprising of reputed schools, office compounds and medical institutions. Some of these are Akash International School, Columbia Asia Hospital, Akash Hospital, Leena Multispecialty Hospital. Besides these, the locality also brims with recreational centres such as the Phoenix Market Mall, World Market Mall and Elements Mall.
Kareem Khan, Managing Partner, Network Ventures, Bangalore, in this context, avers, “Owing to the location and infrastructural advantages, many reputed companies have now purchased land parcels in Devanahalli. Famed names such as Marlabs have shifted their operations to this region, giving a major thrust to the housing demand in the locality. Further, the massive townships launched years ago in Devanahalli such as Ozone Urbana, Brigade Orchards and Hiranandani, have now become a reality. A 1 BHK apartment in this locality would cost up to Rs 25 lakh, a 2 BHK unit would range somewhere in between Rs 30-65 lakh, and for a 3 BHK apartment, the homebuyers have to shell out somewhere in between Rs 45 lakh-Rs one crore, depending on the amenities offered in the project.”
The upcoming Phase 2 of the Namma Metro, passing through Nagawara in North and ending at Gottigere in South is further expected to boost the connectivity quotient in Devanahalli. Other than this, a new Satellite Town Ring Road (STRR) connecting Doddaballapur, Devanahalli, Hoskote, Sarjapur, Kanakpura, Ramanagaram and Magadi is also expected to be operational in the coming years.
Due to the factors mentioned hereabove, it can be anticipated that this North Bangalore suburb will soon witness a surge in demand for residential units. With an influx of commercial offices and IT Parks, the realty prospect of Devanahalli is expected to soar further in the times to come, hence making it an attractive investment destination for developers and homebuyers alike.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.