South Bengaluru's new realty star

South Bengaluru's new realty star
Years ago, for those who travelled between Mysuru and Bengaluru, the identification mark for reaching Bengaluru was the big, colourful arch designed to mark the presence of Rajarajeshwari Nagar Temple on Mysore Road. Likewise, if you crossed the arch, that meant you had managed to reach the outskirts of the City. Well, not anymore. A lot has changed since then. Today, the arch is a gateway to a whole new bustling world called Rajarajeshwari Nagar.

For those who don’t know the area, RR Nagar lies in the southern part of Bengaluru, along the busy Mysore Road. Comprising localities like BEML Layout, BHEL Layout, Ideal Homes Township and Pattanagere, RR Nagar is also a thriving green lung space in an otherwise congested city. The Halagevaderahalli Lake provides for a soothing imagery and numerous parks dot the area. In fact, many also consider RR Nagar to be a weekend destination, thanks to its undulating landscapes and easy access to famous temples and tourist hotspots.

Of course, the popular Rajarajeshwari Nagar Temple is a prime attraction and has devotees from far and wide coming here to seek the blessings of Goddess Raja Rajeshwari. Initially built as a shrine for the goddess in the village of Kenchanahalli near River Vrushabhavathi, this temple has transformed an obscure village into one of the poshest areas of RR Nagar. 

This apart, RR Nagar also offers easy  access to places like Omkar Hills, one of the highest points in Bengaluru, and is home to a huge clock tower, the Matsya Narayana Temple and Shakthi Hills, where the massive six-faced Shanmukha Temple is located.

Housing a population of around 25,000, RR Nagar is inhabited mostly by Kannadigas and is home to celebrities like Darshan, B Jayashree, Diganth, Malavika Avinash and Indrajit Lankesh. Thanks to the Global Village Tech Park, you can find a noticeable presence of the IT crowd, too.

All about location
Commenting on the locality, Irfan Razack, chairman, CREDAI National, says, “Rajarajeshwari Nagar is a well-planned residential layout with excellent infrastructure and good roads. It is in close proximity to Mysore Road and the Outer Ring Road. The Global Village Tech Park, which is in the neighbourhood, houses a host of MNCs and IT majors. In addition to this, Toyota, Bosch and Ingersoll Rand, among others, have large industrial setups further down on Mysore road.”

RR Nagar boasts of excellent connectivity to almost all the major areas of Bengaluru - KR Market, Majestic, Kengeri and Vijayanagar. The newly-established Metro stretch from Magadi Road to Nayandahalli promises to eliminate major transport hurdles for people working in the City. Apart from the mushrooming residences across its stretch, RR Nagar also has developing commercial spaces and established educational institutions.

Ram Chandnani, managing director transaction services India, CBRE South Asia Pvt Ltd, says, “RR Nagar is a favoured and affordable residential destination for those who work in Mysuru but prefer to live in Bengaluru. The area is witnessing significant infrastructure development with the proposed metro and construction of four-lane roads in the area. RR Nagar will be one of the five stations on the East-West line of the Mysore Road-Kengeri corridor in the second phase of Namma Metro. Several developers have taken aggressive positions in and around this micro-market and are expected to launch projects closer to completion of the metro line and four-laned roads.”

K S Jayaraja, developer, Essjay Developers, adds, “The biggest attraction is the presence of the 1,000-acre campus of Bangalore University on Mysore Road.

 Global Village, a bustling IT hub spread over 120 acres, is hardly two km away from RR Nagar. You have six colleges in the vicinity - Global Academy of Technology, RV College of Engineering, National Law School of India University, SJB Institute of Technology and so on. The newly established Metro is also working in the area’s favour.”

Major hospitals like BGS Global Hospital and Vasan Eye Care Hospital are located here and when it comes to entertainment, Gopalan Arch Mall is a one-stop shop for all your needs. 

With so much development happening in and around the area, the rates of residential and commercial spaces are predicted to be on an upward curve at least for the immediate future. 

“Residential apartment rates vary from Rs 5,000 to Rs 6,500 per sq ft, depending on their finish, while commercial selling rates vary from Rs 15,000 to Rs 18,000 per sq ft. The figures for commercial rates are approximate and for small floor plates,” informs Irfan. The rate of appreciation is predicted to be at 16 per cent.  In simpler terms, a two-BHK or a 1,200 sq ft apartment will cost you anywhere between Rs 50 lakh and Rs 65 lakh, depending on the amenities provided, and the rates go up for threeBHKs. The average rent for a two-BHK apartment is around Rs 10,000-15,000 per month.

But then...
So, what’s on the other side of the coin? Many empty land parcels are being turned into dumpyards, which in turn are turning into potential breeding grounds for diseases.

One can find many roads dug up for maintenance works; they haven’t been repaired, leading to hazardous conditions. Another major drawback is the apparent lack of playgrounds. Poor bus connectivity also marks the dark side of RR Nagar. Although BEML Layout enjoys excellent bus connectivity, other areas suffer.

“The sanitary lines of RR Nagar are really old and need to be replaced with new ones. Cleanliness plays a vital role in the realty prospect of any area and it applies to RR Nagar too,” avers Jayaraja. Irfan elaborates, “There is a scarcity of land in RR Nagar as it is almost completely developed, except for small-sized individual plots. But as supply is short, investors can expect good returns. Metro connectivity, as proposed in Phase II, will definitely be beneficial to residents of RR Nagar.” 

With fast-paced development unfolding by the day, you can expect good returns on your investment in this area. You can also expect to find your dream abode in this green, serene locale, which has something to offer to everybody. 

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