Showing strong signs of promise

Showing strong signs of promise

Showing strong signs of promise

On the face of it, Bommanahalli’s best features could be attributed to two factors: Its proximity to Electronic City and the fact that Madiwala Lake runs along its entire length on one side. But when you look deeper, you will find that the area boasts of much more.

Located in South Bengaluru, Bommanahalli is caught up in the folds of development currently. It consists of areas like Roopena Agrahara, Kodichikkanahalli, Seenappa Layout and Vakil Marina Layout and is usually the fourth option for most home seekers, after Jayanagar, JP Nagar and Koramangala. What initially was a nondescript, mostly industrial zone of Bengaluru, got a big boost when Electronic City came up.

“Bommanahalli has gained prominence as it is located in close proximity to Koramangala and Jayanagar that are prime micro-markets of Bengaluru. It is also well-connected to Electronic city via Hosur Road and the Electronic City flyover, Sarjapur and Outer Ring Road, which are prominent locations for IT parks and business centres. The Bannerghatta Main Road and NICE Ring Road further improve its connectivity with other parts of the City,” explains Sveta Jain, managing director, residential services, Cushman & Wakefield, India.

Thanks to its proximity to IT parks, it’s no surprise that IT professionals are the major driving force for Bommanahalli’s real estate market. Middle-class families majorly dot the area. Satish B N, executive director, South, Knight Frank India, says, “The area is still in the developing stages and one may see good appreciation in the next few years mainly due the presence and growth of IT/ITES organisations in and around this area. Availability of open spaces increases the chances of further development in the area. The Bommanahalli-Begur Main Road has some good residential developments currently.”

The area is lined with good, wide roads and broad streets in some areas, while others are crowded. Both commercial and residential ventures take up the space equally. When it comes to schools and colleges, Bommanahalli faces no scarcity. Newton Public School, Presidency School, The Oxford College of Engineering, ICAT Design and Media College are some of the popular options. Small-sized convenience stores cater to most of the residents’ needs. But if you are looking for malls or bigger shopping complexes, you have to head to JP Nagar, Koramangala, or Jayanagar.

Complete package

For all the movie buffs, Bommanahalli offers single-screen theatres also. If you love malls, the closest would be Gopalan Innovation Mall situated in BTM Layout. Healthcare-wise, Bommanahalli is yet to see big players establish their presence in the area. Right now, it houses Prashanth Hospital, Blossom Multi-specialty Hospital, Vasan Eye Care and Vinayaka Hospital. Foodies will also find some interesting options to satiate their taste buds well within the locality.

Shedding some light on the realty rates in the area, Satish says, “Bommanahalli property prices for residential apartments are around Rs 3,500-Rs 4,000 per sq ft and commercial establishments are priced anywhere between Rs 5,200-Rs 5,700 per sq ft. Land prices are moderate and the location has proximity to some main areas of the City, and hence has potential to grow drastically. The time frame required may be anything above five years from now.”

Sivaramakrishnan, head — residential services, CBRE South Asia Pvt Ltd, says, “Bommanahalli has multi-storied and mid-rise apartments from A, B and C category developers due to increase in demand for residential requirement around Koramangala and the prices vary widely across the area. The price depends on closeness to the main road (Hosur Road), magnitude of the project and developer credentials.”

Sveta adds, “These rates have increased by about four to seven per cent over the year. However, due to overall slowdown in residential real estate segment, the property prices are expected to remain largely stable over the next 12 months. The property rates are competitive and the area has several projects that are ready and also currently under construction. Overall, it is an attractive micro-market.”

When it comes to buying a two-BHK, keep a budget of Rs 40-60 lakh and for a three-BHK, be prepared to shell out anywhere between Rs 70 lakh to Rs 1.25 crore. Do keep in mind that the prices vary depending on the kinds of amenities provided by the developer.

When it comes to rental values in the area,Sivaramakrishnan says, “The demand for rental accommodation is more due to floating population. Good two-BHKs are available for Rs 25,000-Rs 30,000 per month. Cost-effective accommodations are also available; they can range between Rs 7,000 and Rs 12,000 per month.

Promising
“Bommanahalli falls under the Bruhat Bengaluru Mahanagara Palike (BBMP) jurisdiction and hence, its overall development is expected to be well planned. Bommanahalli is proposed to get a metro station in the Phase 2 of development, which will connect it with Basavanagudi and Jayanagar. Since the area still has several land banks available for development, the micro-market is expected to witness more residential projects being
initiated going forward. Leveraging its proximity to Koramangala and Jayanagar, the real estate prices and demand are also expected to increase during the next two to three years,” predicts Sveta.

“Begur Road, which runs across Bommanahalli, has been witnessing a large number of budget housing projects recently. This would make apartments affordable for end-users and increase sales for the builder. The proposed metro connectivity and smart city concept will fetch high returns to investors and end-users,” adds Sivaramakrishnan.

However, the area does have its flaws too, especially when it comes to civic works. Roads with potholes, missing footpaths and shrinking greenery are some of the major concerns among residents here. “The area needs better infrastructure development in terms of roads, pavements and parks. Wider and neat roads and public parks will attract more residents to the area. At present, the area shows lower promise for development, but in the next few years, it can turn out to be a good investment. Probably other areas in Bengaluru that are currently offering properties at similar or lesser prices can guarantee higher returns in the next five years,” avers Satish.

“Traffic situation is the major problem in Bommanahalli. There is a signal-free
elevated road which connects Silk Board and Electronic City. However, the residents of Bommanahalli won’t have access to it,” explains Sivaramakrishnan.

Resident speak

‘Rent-wise, Bommanahalli is a safe bet’

Connectivity is a problem. I work in Whitefield and I don’t have any direct buses to my office. But the area can cater to all your small needs, like vegetables, grocery and hardware. You don’t have to travel long distances for that. The garbage situation is similar to the rest of the City. However, I would say that it has improved a bit over the past few years. Now, garbage gets collected every alternate day. There’s one sewer near Hongasandra, near Oxford Polytechnic College, where people dump waste. This could turn hazardous.

When it comes to safety, I would say it’s pretty safe for everyone in the area. But, generally, I don’t see many women venturing out at night here. The area is mainly residential, interspersed with few hostels.

The biggest problem we face is that of roads. They are in extremely bad condition. And traffic is always an issue. No matter what time you look at the roads, they are always in a mess and clogged with people and vehicles. The government had plans for turning the road into an 80-feet one; even markings have been made. But it’s been almost a year and nothing has happened.

That said, for a home seeker with a medium budget, I would definitely recommend the area. With a budget of Rs 50-70 lakh, you can get a two-BHK home here. Rent-wise also, the area is a safe bet.
Hemanth M K


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