Northwest Bengaluru land values to increase by 10% per annum: Study

Bengaluru: Bengaluru’s north-west corridor, specifically Tumkur Road, can anticipate a commercial stock of 16 to 19 million square feet (msf) by 2030 with an incremental demand of 5 to 8 msf, according to a study conducted by Brigade Group and Meraqi Advisory, released on Friday.

The region is rapidly gaining recognition as one of the fastest-growing secondary business districts in Bengaluru, according to the study.

By 2030, northwest Bengaluru is projected to require an additional 10,000 residential units.

Land values are expected to appreciate at an average rate of 10 per cent per annum, while residential capital prices are seen growing at 7 per cent compound annual growth rate over the last decade.

One of the factors that contribute to the growth of the region is that it is a cost-effective alternative to Hebbal and city centre locations. Limited stock and low supply will further fuel the demand for commercial office developments.