JOIN USPrimarily driven by IT-ITES development in the area, there is rapid and significant growth in terms of real estate development at Bannerghatta Road. Affordable prices coupled with excellent connectivity make it a sought-after area, reckons Suja Natarajan.
Located in South Bengaluru, Bannerghatta Road, better known as BG Road, is one of the most desirable addresses in the City. With a steady increase in property values in the last few years, BG Road has been a delight for realty investors. The border of Bengaluru, which was once considered as the outskirts of the City, is being extended to accommodate the burgeoning population of the City.
Improved connectivity and favourably positioning in the IT corridor of south and southeast Bengaluru has opened BG Road up to a number of real estate and commercial developments. With a total length of 49 km, BG Road branches on Hosur Road and connects the City to other outlying areas such as Anekal and Jigani. Touching major intersections like Gottigere, Arekere Gate, Adugodi, Koppa Gate,
Bannerghatta Circle and Hulimavu Gate, the road is now home to several residential and commercial establishments.
Affordable prices coupled with excellent connectivity has promoted substantial growth in South Bengaluru. BG Road and Banashankari are some of the premium markets that offer properties in mid-range and luxury segment. Known to have a developed social infrastructure, BG Road, and its surrounding areas have
continuously progressed to become one of the hotspots of commercial and residential space. Demand from IT professionals from within the country and abroad has made this locality a plush suburb to live in.
BG Road enjoys a good physical as well as social infrastructure. Primarily driven by IT-ITES development in the area, there is rapid and significant growth in terms of real estate development. Being a state highway, the road offers better connectivity with its intersections with Outer Ring Road and NICE Road. The locality has gradually
developed into a commercial and residential hub owing to rapid urbanisation. “One of the best things about BG Road is its proximity to various requirements, be it shopping areas, medical facilities, or educational institutions,” says J Krishnan, President of Bannerghatta Neighbourhood Association (BANA).
BG Road boasts of some premier healthcare and educational institutions – Indian Institute of Management, Rammanohar Lohia College of Law, National Institute of Mental Health, Bangalore Institute of Management, Management Academy Research Centre, Apollo Hospital, Fortis Hospital, Jayadeva Hospital and Narayana Hrudayalaya. There is no dearth of entertainment and retail options in the locality with the presence of Royal Meenakshi Mall, Elegance Mantri Mall, Vega City Mall and Gopalan Innovation Mall. BG Road is also home to several corporate offices like
CISCO, Oracle, Accenture, Honeywell, IBM Global, Adobe and many more.
Along with urbanisation, abundant landscape and good lung space are attracting several investors. “Bannerghatta National Park is just 10 minutes drive away and you can experience a wild safari in the midst of the City. Where else can you find that in the country? The proximity to nature, very good connectivity through NICE Road and the presence of fine medical facilities is one of the big advantages of Bannerghatta,” Krishnan says.
“The general infrastructure by the private players like the residential societies, malls and restaurants are good, but the infrastructure provided by the government bodies is not up to the mark. Overall, it’s a good neighbourhood to live in and by and large, it’s also a safe locality,” says Vikas Goel, a resident and software engineer.
Market speak
According to magicbricks.com, there has been an increase in the capital value in last three years. 2BHK apartments that were available in the price range of Rs 28-32 lakh in August 2011 are now being offered at a price range of Rs 40-45 lakh. The
location also has several launches by reputed builders in the luxury segment, which are in the range of one and half to four crore per unit. As per data of price trends, property values in BG Road appreciated to Rs 4,781 (Jul-Sep 2014) and depreciated to Rs 4,415 (Oct-Dec 2014) per square feet. Local real estate agents believe that the upcoming metro connectivity and the advantage of being a prominent locality are expected to augment the capital value of the area. “People are looking for good amenities and are willing to invest in high-end properties even if it costs more. Such amenities are well-provided by the builders in the locality,” says Krishnan.
The other side
Although BG Road is bustling with new IT companies and high-end luxury
apartments, poor maintenance of infrastructure haunts its residents. Traffic snarls, broken sewage lines, killer roads, along with power cuts and water shortage has increased the stress levels of its residents in the recent years.
“It takes more than an hour to cover just about 10 km, thanks to the narrow roads and the kind of traffic in the area. Several intersections coupled with voluminous
traffic add to commuters’ woes. One of the high priority issues for BG Road is better traffic management because it’s going to get worse in the years to come. With the talks of Metro being sanctioned, the road will be in a mess for the next five years, with no strategic planning,” rues Krishnan.
“The roads, surrounding the corporate, commercial and residential offices, are just too narrow for busy traffic. There are hardly any sidewalks in this area, and the drainage system is pathetic. We also have months when the taps go dry and have
regular power cuts,” adds Vikas.
Residents also suffer from lack of proper drainage system in the locality. Like most other areas in Bengaluru, garbage management in BG Road is a challenge. Open grounds, drains and choked pipes have become breeding ground for mosquitoes and garbage. Rues Krishnan, “After having paid huge deposits to BWSSB, we still don’t have a proper drainage system. Few apartments have their STP, but this increases the cost of maintenance and shows the weak infrastructure of the locality.”