In the right location

Over the years, Kengeri has witnessed many changes and transformations. From being a famous centre of sericulture during Tipu Sultan’s reign to a well-developed and modern locality, Kengeri has truly evolved. In fact, its constant growth is the main reason that draws many investors to it.

Furthermore, its affordable prices have made the locality a lucrative realty hub. As a result, it has emerged as a preferred mid-end residential micro-market that is dominated by local developers, who are focusing on small and medium-scale housing projects.

The real estate growth in Kengeri has been limited over the years, unlike its counterparts, which saw an immense growth because of the IT boom. “The fertility of the area and abundance of ground water made farming predominant in the area,” explains Suresh Hari, secretary, CREDAI. “How-ever, the market for real estate has been steady and in the last couple of years, large developments have commenced.”

The development of the Global Tech Village, the first technology park to be built along this corridor, led to tremendous infrastructure growth, including the NICE Road and Namma Metro. The proximity of Bidadi, one of the largest industrial estates of Karnataka that has attracted global majors like Toyota and Bosch to set up their premises, has further facilitated the development of this micro-market.

Looking deeper

As Kengeri is still a developing area, the locality is largely characterised by independent houses and a few commercial spaces. “The micro-market has been performing consistently well with limited supply and reasonable demand at an average growth of six to eight per cent per annum,” elaborates A S Sivaramakrishnan, head — residential services India, CBRE South Asia Pvt Ltd. “The proposed  extension of the Mysore Road Metro line has triggered considerable growth in property prices over the last year.”

Further, the prices of real estate in Kengeri are reasonable and not as high as its counterparts. As a result, this gives it more space for growth and the potential to do well. Majority of the housing demand for the area is generated by the working populace at the Global Technology Village and the educational institutions, blue-collared workers from nearby industrial areas and from older residents of Bengaluru. It primarily caters to the local population and some migrant population as well. “Buyers in Kengeri have largely been marginal farmers, industrial establishments — mainly engineering, automobile, entertainment parks and hospitality,”concurs Suresh.

Apartments and plots take up a sizeable portion of the real estate market in Kengeri. As for the prices, properties can be purchased at Rs 3,200-4,500 per sq ft with capital values being in the range of Rs 25-70 lakh. If you are looking to rent, the prices can vary depending on the property’s size and its location. Rents usually vary from Rs 7,000-10,000 per month for a two-BHK, Rs 12,000-20,000 per month for a three-BHK and at Rs 15,000-40,000 for independent houses.

One of the biggest factors that work in Kengeri’s favour is the groundwater that is available to the locality in plenty.

“Bengaluru’s geography is such that it is sloping to the south-east. As a result, the water table is high in the south-eastern part of the City,” explains Stanley George, managing director, GoodEarth Properties.

Kengeri is also located in proximity to many reputed educational institutions such as Bangalore University, Indian Statistical Institute, RV College of Engineering, and Rajarajeshwari Medical College, among others. Good schools on Kanakapura Road and Mysore Road are also easily accessible. The locality has a lot of greenery and consists of large open tracts of land as well. There are also many shopping centres, malls, markets and hotels here. Furthermore, noted hospitals like BGS hospital, located on Bannerghatta Road, are easily accessible via NICE Road.

Easy to reach

No matter what part of Bengaluru one stays in, one looks out for how the area is connected to the rest of the City. In this regard, Kengeri does not disappoint as connectivity is its high point. It has a large number of bus stops and railway stations that make it easy for commuters. It also acts as a crucial transit point between Bengaluru and other places in Karnataka like Mandya and Mysuru. Kengeri is also well-connected (and easily as well) to major hubs of the City via the recently widened Mysore Road. Further, the connectivity of NICE Road to Hosur Road, Kanakapura Road, Bannerghatta Road and Tumkur Road on other side is another major plus.

“The Namma Metro corridor, which will be extended up to Kengeri Satellite town from Nayandanahalli on Mysore Road, will be of a huge benefit for the people working in the garment industry and those who attend the colleges or schools nearby,” adds Rahul Pai, managing partner, Uma’s Realty.

However, like any other locality, Kengeri has its own share of problems too. One of the main issues that the area faces is traffic congestion. “Another thing that is worrying is the condition of the Vrishabhavathi river. It has become extremely polluted and unfit for any form of use. However, as there are measures that are being taken to rejuvenate the river, things should get better soon,” opines Stanley.

Despite the many issues, Kengeri is all set on the path to realty growth. Thanks to the availability of land, many property seekers are coming forward to invest, so as to develop properties and give them on rent. Residential project development is on the rise. “This area will always be a safe bet for investment, as long as it is planned well. Investing in the right product will yield good returns even in the short term,” maintains Suresh.

Resident speak

‘Property rates are cheaper here...’

I have been a resident of Kengeri for almost four years now. I find it to be an excellent area to live in, as there is no heavy pollution (air or noise) and not much of a rush either. Furthermore, safety is guaranteed here, especially if you are living in a flat. You will find a lot of apartments here, probably more than independent houses. Many who stay here work in the nearby factories.

However, if you are working in the City, travel is a bit difficult as there is a lot of traffic. I also find that the property rates in this locality are much cheaper than the ones in the City.

It is also a convenient locality to stay in as everything is easily available here. Stores and malls close to Magadi Road are easily accessible.

However, the only problem is that if I want a particular item like yeast, I would have to
travel towards South Bengaluru. Otherwise, everything is conveniently available at a
cheaper rate than in the City. There are also plenty of schools and playgrounds nearby for children and a lot of walking areas for residents. And having lived here for a while now, I find life in Kengeri comfortable and easy. 
Pratima Mohan

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