The rise & rise of Neo-Bengaluru

Located about 25 km from the eastern part of the City, Hoskote is a taluk belonging to the Bengaluru Rural district. In spite of not being an integral part of Bengaluru, Hoskote finds its share of charm in the form of historical legacy. However, with changing times, the commercial allure for the place has increased, partly due to the expanding boundary limits of the City, and partly due to the land resources it has to offer.

Being called ‘Neo Bengaluru’ in recent times, Hoskote has a number of well-known industries and enterprises being set up. This has resulted in rapid growth of the region, providing what developers have termed a “much-needed boost to the real estate sector”.

The foremost reason for the area’s development is its location, which proves to be tremendously advantageous. It is located along the Bangalore-Chennai National Highway 4 and is easily accessible from the City centre.

It is also situated in close proximity to the IT Hub of Whitefield. Another reason for it to be considered a good investment option is its connectivity to the Satellite Town Ring Road (STRR) and the Intermediate Ring Road (IRR).

Fair growth

Owing to these factors, over the last few years, the area has witnessed fair growth in residential developments in the form of apartments and plotted develop-ments. Speaking about the factors that have contributed towards this growth, Satish B N, executive director — South, Knight Frank, says, “Factors such as improved connectivity to the International Airport, presence of employment hubs such as ITPL in Whitefield, good connectivity to other parts of the city and upcoming physical infrastructure such as the STRR and IRR have contributed towards the growth of Hoskote. Also, there is a six-lane dedicated highway with broad service roads on either sides that is coming up, running from KR Puram to Hoskote.”

Additionally, there are also several flyovers between KR Puram and Hoskote that make it a signal-free route, easing the movement of traffic.

“Hoskote also happens to be an established auto hub with a number of auto and auto ancillary units within it. In the recent past, leading real estate players are entering into the warehousing business and availability of large land parcels at reasonable cost has made Hoskote a hot favourite. Development of a startup-dedicated township is also going to make the area further lucrative and increase realty activity and land prices,” opines Pratik K Mehta, managing director, Unishire.

Add to this, most of the IT parks in the northern and eastern parts of the City are within a 10 to 20 km radius of Hoskote. Not to forget, the Whitefield Railway Station and the KR Puram Railway Station also lie in close proximity, making things easier for frequent travellers. The upcoming Bangalore Metropolitan Region Satellite Townships Ring Road (BMR-STRR) and Bangalore Metropolitan Region Intermediate Ring Road (BMR-IRR) would link Hoskote to areas situated across the City like Magadi, Kanakapura, Attibele, Devanahalli, Ramanagara and Doddaballapur.

The growing infrastructure, good transportation facilities, schools and higher
education institutes (engineering and medical colleges) in the neighbourhood augur well for Hoskote as a residential location. On the retail front, there is a Big Bazaar outlet that is coming up near Budigere Cross, while there are small super markets and convenience stores situated nearby. Thus, in the opinion of real estate experts, the area holds good potential for further development in terms of both residential and commercial properties.

Having said that, Hoskote is still an upcoming location and hence lacks social infrastructure when compared with other developed colonies. For instance, there is absence of good healthcare facilities, shopping malls and entertainment places, as well as reputed hotels.

This location, at the moment, does not have metro connectivity. Besides, the
locality is still on the main lines of industrial sector and the transition to a wholly residential locality may take some more time.

Investment-wise

“As far as present rates are concerned, apartment costs range between Rs 2,300 and Rs 4,500 per sq ft. While apartment complexes are present in the region, it also has dwellings in the form of villas, row houses, township projects and independent houses,” explains Satish.

Also, most of the realty prices for homes here are affordable. “The overall built-up of a decent mid-size home should be anywhere between Rs 40 and Rs 50 lakh,” informs Pratik. “Owing to the cheaper land prices, apartments available here are very reasonably priced. Rental rates, too, are reasonable. But it makes sense to invest in a home here,” he adds.

If you are looking to invest, go for a long-term investment as Hoskote holds a lot of potential due to its connectivity and upcoming physical infrastructure, concur the experts.
The demographic of this area is, basically, characterised by a mix of affordable and mid-income groups and people working in the industrial hub in the surrounding
areas. It is an ideal location for those working in areas like ITPL in Whitefield, KR Puram and Old Madras Road. An hour’s drive to the Airport and excellent connectivity through NH-4 are some of the major advantages of residing here.

The upcoming metro station at Dasarahalli will be an added advantage as it is located at a distance of barely two km from Hoskote.The upcoming BMR-STRR and BMR-IRR will further boost the potential of this area. At present, the prices of apartments are considered reasonable and are expected to appreciate in the coming years. With a potential to grow immensely, Hoskote proves to be a good investment for end-users and
investors alike.

Resident speak

‘Just plain land for miles together...’

I have been living in Hoskote for the last 14 years. We have our own farm here, where we indulge in green practices like rainwater harvesting, organic farming etc.
When we first came here, there was absolutely nothing, just plain land for miles together. But of late, that has changed with many builders starting to develop high-rises in the area. This is worrisome, as I’m not sure how they plan tosustain this growth. For instance, there is not enough water here to meet the needs of new apartments. Sewage is a problem as well.

Electricity is also is in its latent stage. So once more residential structures come up here, I’m not sure how they are going to plan for the long haul...The builders must take some kind of responsibility or preemptive action before there is too much damage done to the ecosystem in Hoskote.
Soumya Aravind Sitaraman


Some upcoming residential projects

V R Shobha Meadows - V R Builders & Developers
 Souparnika Purple Rose - Souparnika Projects Pvt Ltd
 Artha Emprasa - Artha
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 Namma Nivasa – Namma Mane Housing LLP