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North is where you should head

Pooja Mahesh, July 31, 2015, DHNS 0:11 IST
growth Property rates in Devanahalli have  escalated to 80 per cent in the last two years. DH photos by Srikanta Sharma R
There was a time, perhaps, when investing in an area like Devanahalli was considered foolish and not worth it. Fast forward to today, Devanahalli has become investment-heavy and is developing quite rapidly. Known as Tipu Sultan’s birthplace and home to India’s second largest airport, Devanahalli is fast becoming the next real estate hotspot. Located 40 km from Bengaluru, it is a Town Municipal Council in Bangalore Rural district.

Consisting of four major hobli centres, namely Vijayapura, Channarayapatna, Kundana and Kasaba, Devanahalli has experienced a tremendous growth since the airport was built. ‘Touristy’ places include the Fort, which was originally built in 1501 by Mallabairegowda and soon went into the hands of Hyder Ali and subsequently Tipu
Sultan, the Venugopalaswamy Temple within the fort and the memorial of Tipu Sultan, among others.

Typically, cities grow towards the southern direction. As a result a lot of
development, infrastructure tends to increase here. North is generally not seen as the direction of growth or development. However, Devanahalli has proved to be an exception. Its close proximity to the international airport, three proposed IT parks and a four-lane state highway makes it a lucrative option for investment. “There has been plenty of development happening in North Bangalore, especially near the
airport in Devanahalli as there have been significant developments on both sides of the airport,” says Karan Varma, a real estate analyst at JCC.

Then and now

“Devanahalli has transformed into a concrete land today. Yet I find that it is less polluted than Bengaluru City. The many open spaces available around Devanahalli allow people who invest here to build cool, open houses,” opines Manu Timmaiah, a Devanahalli resident.

With a population of around 29,000, Devanahalli is home to a variety of communities from all over India. With its growing population, the infrastructure too is expanding. Karan divides the development happening in Devanahalli into three categories. First, the commercial development as done by companies such as Cognizant and Shell, the second being the real estate development as done by builders like the Hindujas and RMZ who have been launching properties in and around Devanahalli and finally, the elevated roads, which have significantly improved.

The prices in the area seem to be in a balance, both commercially and residentially. With improving infrastructure such as easy access to hospitals, schools and supermarkets, it has made the locality easy to live in. The roads too have not been left behind – they have been widened and made into a national highway with six lanes.

“Everything in Devanahalli has fallen into place. The development has not happened too fast here. It has understood its surroundings and developed itself to imbibe progress,” says Suresh Hari, secretary, CREDAI.

The Investment Region (ITIR) near Devanahalli and the Aerospace SEZ
being proposed near the airport will perhaps be the driving factors for people investing in the area and increase in residential developments.

Although some connectivity issues still persist, things are getting better. “Bellary road is being widened to a six-eight lane road and a 33-km high-speed rail link (HSRL) line is being proposed to connect the centre with the airport,” says Irfan Razack, chairman, CREDAI National. Further, peripheral ring road, intermediate ring road and satellite ring road to the airport from different parts of Bengaluru are being introduced. With better access to other parts of the City, the area can soon become more inclusive.

Being the hotbed of development, the property rates in Devanahalli have escalated to 80 per cent in the last two years. Currently, property prices range between Rs 3500 to 4500 per sq ft. And this will continue to happen over the next couple of years, opines Suresh. As the infrastructure improves in the area, there will be more people wanting to invest here and soon move in. Just as ITPL in Whitefield saw infrastructure built around it, increasing investment and leading people to move into the area, Devanahalli too will see similar developments.

“It is a lucrative area to live, and with the City’s boundaries gradually increasing, the airport may soon become a central part of the City. There should be more help from the government in easing the legalities that can worry potential investors here,” says Gautham Talukdar, co-founder and premium realty advisor, Absolute Habitats.

Although Devanahalli seems to be a lucrative option to invest in, some feel that little has been happening in terms of development. “Apart from Shell opening their office here, there is no other big company coming up there. Further, it is more investor driven as the area is located really far from the City. The airport should have sparked a lot more investment but it hasn’t. There has to more initiative from the government,” avers Radha G, a realtor.

Irfan believes that the area will take another five to six years to take the desired shape. It’s just a matter of time before Devanahalli earns its rightful place in the spotlight.

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