Namma Metro: Hosur Road realty to get a new lease of life

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Hosur Road metro

The proposed metro connectivity between Bommasandra and Hosur Road has not only offered the much-needed respite to daily commuters but also revived the homebuying sentiment in the region, mainly along the Hosur Road. Here is the micro-analysis of the upcoming Hosur Road metro and its impact on real estate growth alongside.

One of the prominent thoroughfares of Bangalore, Hosur Road in the South is experiencing a significant real estate boom backed by the recently proposed metro project. A part of Phase II of the Namma Metro, the Bangalore Metro Rail Corporation Limited (BMRCL) has planned a new rail link between RV Road and Bommasandra via Hosur Road. The 18 km stretch will be developed in three stages, wherein, the links from Bommasandra to Hosur Road and from Hosa Road to HSR Layout are scheduled for completion in 2019, and the last stretch between HSR Layout and RV Road is touted to be operational in 2020.

The metro project announcement has infused a new lease of life in the peripheral districts of South Bangalore. However, Hosur Road remains the cynosure of growth on account of multiple factors and is anticipated to emerge as the new real estate investment hub in the city.

Impact of upcoming metro on the realty market along Hosur Road

The recently announced metro is touted to be a pacesetter for realty growth along the Hosur Road, and the renewed homebuyers’ interest is the testimony to the trend.

Hosur Road has witnessed a massive revival in the housing demand particularly from the investor community, resulting in a four percent growth in the average weighted capital values,  QoQ. Currently, the average weighted property prices along the Hosur Road vary between Rs 3,900 per sq ft and Rs 4,800 per sq ft.

According to Karim Peer Khan, Marketing Manager, Network Ventures Bangalore, “The increased realty momentum along the Hosur Road is primarily on the back of the upcoming metro project. Earlier, despite being an affordable housing destination in proximity to commercial hubs such as Electronic City, Sarjapur Road, and Begur; Hosur Road failed to garner homebuyer’s traction mainly owing to the nightmarish traffic situation near Electronic City. While economic reforms also played a crucial in deterring realty sentiments in the region, vehicular congestion was the key factor. However, the upcoming metro project is expected to fillip the realty dynamics along the belt. The development will not only improve Hosur Road’s connectivity to the Central Business District (CBD) and other key areas of the city but will also set the pace for commercial and residential expansion along the stretch.” 

Apart from the upcoming metro project, commercial expansion in the nearby locations is also expected to have a significant bearing on the housing market along the Hosur Road. For instance, Wipro is coming up with 50-acre office space in Kodathi along the Sarjapur Road and will generate almost 30,000 new job opportunities. Taking note of competitive pricing and proposed infrastructure project, Hosur Road may have the edge over Sarjapur Road from young working professionals.

 

Localities

 

Average Weighted Property Prices

Average Weighted Rental Prices

Hosur Road

Rs 3900- 4700 per sq ft

1BHK-Rs 6000-75000 per month

2BHK-Rs 12000-15000 per month

Sarjapur Road

Rs 4500-5900 per sq ft

1BHK-Rs10000-12000 per month

2BHK-Rs 19000-23000 per month

 

Overall, the upcoming metro will be a tipping point for Bangalore’s Hosur Road and will create massive demand from both buyer and tenant community. Historically, affordability, improved infrastructure and augmented connectivity have been the key factors for real estate growth in any region, and Hosur Road is also projected to foresee considerable realty growth on these lines. However, effective and timely implementation of the project is pivotal to usher the anticipated real estate growth.

 


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.


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