Great retail potential

LOCALITY FOCUS

With time, real estate in Bangalore has developed into self sufficient pockets. One of the key areas, also among the oldest areas in the City, is Rajajinagar. Primarily a residential locality, Rajajinagar is located to the west of the City.

Around it are popular areas such as Basaveshwaranagar, Malleswaram, Mahalakshmi Layout, Vijayanagar as well as the Rajajinagar Industrial Suburb.  

The area of Rajajinagar is predominantly divided in two primary stages, obviously titled the first and second stages. Beginning at Rajajinagar 3rd Block, this part of town is called Yednoor Dinne and from the 4th block onwards the Siddaram Dinne.  

Just as most other residential pockets in Bangalore, Rajajinagar is further divided into a number of blocks, totally numbering six.  

These run from north to south. The 4th block is relatively large and this is further split into the 4th M block and 4th N block.

Other popular areas here are Subramanyanagar, Kethmaranahalli, Nagapura,Manjunath Nagar, Mariyappanapalya, Prakash Nagar, Srirampuram, etc.  

If one were to view Rajajinagar, it wouldn’t be too hard to say that the area is quite saturated. Chaya BT, VP - South, Real Estate Advisory, Sukrutha Infrastructure Solutions (I) Pvt Ltd agrees that the area is developed completely as far as the residential sector goes. She adds, “The USP of Rajajinagar is that it is one of the oldest residential developments of Bangalore. It has got excellent connectivity and is closer to the heart of the town including Bangalore City bus terminus and the central railway station.”

In terms of connectivity adds, Bijay Agarwal, Managing Director and Chairman, Salarpuria Sattva Group  emphasizes that the presence of the four-lane grade separator is what has made the movement of vehicular traffic from the area towards towards Okalipuram an easier task.

In fact, with the coming of the Metro, many more people are going to consider coming to Rajajinagar for a home.

Also with the completion of the underpass at Rajajinagar, smoother flow of traffic is
ensured from Vyalikaval to Bhashyam circle.”

Predominantly industrial

In terms of potential for development, Chaya believes that it is the outer stretches of Rajajinagar which include Yeshwantpur, Nagawara, Mahalakshmipuram, Maruthi nagar, Peenya and Dasarahalli which still have a bit of potential. Though all of them have already seen residential development, there are major corridors in these localities which are witnessing retail developments.

The suburbs of Rajajinagar is predominantly industrial.

Chaya adds that Rajajinagar is also an industrial area of sorts and that most of the industries have moved out towards NH4 - Nelamangala, Yeshwanthpur industrial area, NH 48- Mangalore Highway. The old industrial areas in Rajajinagar are paving the way for high density residential apartments and commercial developments.

As far as prices go Chaya goes on to add it varies for different stretches in Rajajinagar for different stretches.

The land prices for residential varies from Rs 8,000 to Rs 10,000/sft in Rajajinagar and the land prices in peripheral areas will vary from Rs 3,500 to Rs 5,000/sft. The commercial land price is around Rs 12,000 to Rs 15,000/sft

The only bottleneck in terms of infrastructure that needs to be addressed says Bijay Agarwal is the small stretch before Vyalikaval Railway station. Once this stretch is addressed in terms of opening up, it will facilitate better movement in the area.

The demand for residential land is high in this area and with most of the in-roads already being developed property is at a premium here.

However, Rajajinagar continues to bask in its popularity of being a great residential area.