Welcome to boom town

Welcome to boom town

LOCALITY FOCUS

This is something that has been observed by many people who move from one major residential sector of Bangalore to another. You will find that every layout seems to be the exact same version of the one before it. The same can be said for Sahakara Nagar which though relatively new, bears a stark resemblance to the areas around it.

It was as recent as in 2008 that Sahakara Nagar became of part of the 48 wards of Bangalore city. The origin of the area was in the 1980s when it was first styled as a co-operative society to facilitate the residential requirements of government employees in the Telecom and Post and Telegraph sectors.  With time, Sahakara Nagar has grown significantly. Says Bijay Agarwal, Chairman and Managing Director, Sattva Group, “Considering the amount of development in Sahakara Nagar there is not much space left to develop. As a result large parts of the surrounding areas are increasingly getting onto the radar of real estate development companies.”  

Development

In terms of extent, Sahakar Nagar covers the area between the Byatarayanapura and Kodigehalli wards. To one end you have prominent places like Hebbal, Kempapura and Vidyaranyapura. On the adjacent side the National Center for Biological Sciences. Two other very important landmarks in this area are the Jakkur Training Academy and the Bhupati Tennis Village.  

There are several USPs to the area and Irshad Ahmed, President, Bangalore Realtors Association of India says, “The proximity of Sahakara Nagar to NH4 and the resultant connectivity to the International Airport and the City Centre are great for the area. Development in Sahakara Nagar has been primarily plotted but there are several massive banks of land that are still up for grabs. Any apartment projects that have come up have been around only since 2006. Besides this, the presence of high-street retail like Esteem Mall, Big Bazaar and others as well as reputed educational institutions like Trio World School, Presidency College, Sindhi College and Aurobindo Institute have added to the value of this area. The Mahesh Bhupathi Tennis Academy has also been set up here recently and is now quite sought after for those interested in sports.”

Opining on the development of Sahakara Nagar, Bijay Agarwal says, “Complementing the development of the New Airport in Devanahalli, Sahakara Nagar’s realty potential received a huge shot in the arm. One good reason is that the distance to the airport has been reduced to only 27 kms.

Residential development has now automatically seen an increase in the area and there are several apartments and individual homes for sale now. In fact, Kodigehalli and Tindlu Village, at around two kilometers away is also seeing robust development.

Bijay continues to say that this development goes all the way to Vidyaranyapura. Manyata Tech Park in the vicinity plans to add two lakh sq ft to their space, it means the taking on a minimum of 1,000 new employees. This opens a whole new requirement for residential spaces in the near future.
   
Infrastructure

Irshad says, “Bangalore in the South and West are highly populated when compared to North Bangalore.

“A recent report actually stated that the total supply of residential units in North Bangalore is just about 15% of that of entire Bangalore! Sahakarnagar in particular has immense scope for real estate development. It will definitely appeal to potential clients looking for perfect city living conditions with good transit times to the City Centre and to the Airport.”

The obvious next question would be the infrastructure and amenities available here. Bijay explains extensively that for medical help, multi-specialty hospitals like Columbia Asia are present. Sahakara Nagar is also in the vicinity of Hebbal Lake, the Nagawara Lake and Lumbini Park for the environment conscious.

Esteem Mall is available for entertainment. For the working population, popular MNCs as well as Kirloskar Business Park and Manyata Business Park are close at hand.  
As far as the roads go, Sahakara Nagar runs besides Bellary Road and a lot of road widening has happened in the area.

Commuting thus has become simpler. The ring road permits one to circumvent heavy traffic and connects easily to Hennur road, Marathahalli, Tumkur road and the International airport.

Karun Varma, MD - Bangalore & Kochi, Jones Lang LaSalle India says, “Sahakara Nagar is a pleasant residential area with a well-planned layout, parks, wide roads and other attractive features.  The area also has good restaurants, super markets and other retail outlets that meet the needs of its upper middle-income group residents. “The location continues to be a favourable one for new residential projects, since the supply is rather scarce at the moment. There is more residential property action to be seen in the areas around Sahakara Nagar, such as Hebbal, Outer Ring Road and Bellary Road.”

Karun adds that the capital values hover between Rs  3500-4500 per sq.ft, depending on the exact specifications and amenities of the project. Rentals range from Rs.12-16 rupees per sq.ft, again depending on the age of the building as well as amenities and facilities.

Sahakara Nagar has a large amount of potential currently. Considering the fact that more and more developments are taking place in the work-home-play style, this area has the potential to facilitate this.  

PRICE RANGE

Speaking about the price ranges, Irshad says:

* Rentals for residential space -  Rs 17-18 per sft

* Purchase for residential space- Rs 5,500-6,000 per sft

* Rentals for commercial-Rs 48-52 per sft

* Rentals for prime retail (ground floor)- Rs. 100-120 per sft

* Rentals for retail (higher floors)- Rs 35- 40 per sft
Purchase for commercial – Rs 7,000 per sft

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