Once a former suburb in the northern part of Bangalore, Devanahalli has witnessed a massive transformation over the last 3-5 years in terms of residential and commercial developments. The region is touted to become the next IT hub of Bangalore and attract huge real estate investments amid several ongoing and upcoming infrastructure projects.
Located in North Bangalore, Devanahalli is a promising residential locality comprising majorly of plots and multistorey apartments. The locality has emerged as a preferred realty destination among investors due to the development of several employment avenues near the International Airport. The Karnataka Industrial Areas Development Board (KIADB) Aerospace Special Economic Zone (SEZ) and KIADB IT Park, along with the upcoming BIAL IT Investment Region, are further expected to transform the micro-market. Devanahalli is anticipated to emerge as a significant technology hub, which would pave the way for humongous residential growth across the region.
In terms of upcoming infrastructure, the locality is set to benefit from the approved extension of the Metro Line 4 under Phase 2B of the Namma Metro. Several other projects are planned across the region that would boost the investment potential of the locality in the times to come. Housing demand, both in the capital and rental markets, is likely to grow in Devanahalli.
If you have invested in a property in Devanahalli, here is a list of infrastructure projects that may directly impact its capital value.
Aerospace Park and SEZ
Located around 11 km from Devanahalli, the Aerospace Special Economic Zone (SEZ) has attracted big names, such as Eaton Industrial Products Private Limited, Collins Aerospace, Centum, and Boeing. Several prominent global players have also confirmed their presence in the SEZ and Aerospace Park, set up by the Karnataka Industrial Area Development Board (KIADB). The region has already attracted an investment of over Rs 13,000 crore till date. As per the figures provided by the Karnataka Udyog Mitra, the Aerospace Park and SEZ are likely to employ to more than one lakh people in the future.
Upcoming metro line
Devanahalli is the proposed site for Phase 2B of the Namma Metro, which passes through Nagawara in the North and goes up to Gottigere in South Bangalore. The 37 km-long metro Phase 2B is envisioned as an airport link from KR Puram to Kempegowda International Airport (KIL) in Devanahalli. The metro corridor will have 17 stations in total, and the work on this route is likely to be completed by 2024.
Expansion of the international airport
Currently, Kempegowda International Airport, which is located at Devanahalli, has a single terminal, which serves both domestic as well as international passengers. The expansion plan for KIA, which was initiated in 2011, aims to enlarge the terminal building and associated facilities to enhance the operational efficiency of the airport. As per the latest news, the first phase of the second terminal at KIA, which is being designed as an integrated terminal to handle the increased passenger footfall, is likely to become operational by 2022. With the improved frequency of flights, the connectivity of the region to other parts of the country is expected to augment considerably.
As apprised by Vishal Parwani, Owner, SSB Properties, Bangalore, “The exponential expansion of the airport, which will also have cargo facilities, would be a major breakthrough for Devanahalli’s real estate market as it would generate huge employment opportunities and residential demand. The development is likely to increase the air traffic by 3-4 times the current frequency, which would ensure increased movement of travellers. The expansion of the airport along with other developments, such as the Ring Road Project will help boost the resale value of properties in Devanahalli due to high capital and rental demand. Devanahalli encompasses varied housing options ranging from 1 BHK to villas and lavish tech-enabled homes.”
Ring Road project
After much delay, the work on Phase 1 of the Satellite Town Ring Road (STRR) has finally begun. The four-lane Ring Road will connect the localities on the outskirts of Bangalore, such as Dobbspet (Tumakuru Road), Doddaballapur (Hindupur Road), Devanahalli (Hyderabad Road), and Hoskote (Kolar Road). The first phase of this project, which is Dobbspet-Doddaballapur, is scheduled for completion in 2022. The entire project, once completed, will ease the commute for travellers heading towards Bangalore Airport via Devanahalli.
BIAL IT Investment Region
Sprawled across 12,000 acres, the Bangalore Information Technology Investment Region (ITIR) is under development at Devanahalli. The infrastructure project aims to attract IT investment and reinforce Bangalore’s position as the prominent technology hub in India. Being one of the largest infrastructure projects in the history of Karnataka, the IITR is envisioned to grab the attention of many Grade A companies. As per the officials, ITIR will be developed as a self-sustainable integrated investment region comprising IT/ITeS parks, residential townships, a mini airport, and commercial complexes, among others.
With so many infrastructure projects and competitive prices, Devanahalli is indeed expected to become the next favourite spot for real estate investors in the next few years.