North Bangalore will get a new name: Greater Bangalore
Regardless of the sluggish economy, which has been a major backbreaker for the country, many regions in the nation have been adversely affected by the slump in the market, however, Bangalore has a different story to tell. The Silicon Valley of the nations has emerged as one of the enviable real estate destinations, and North Bangalore bears testimony to this truth. Key developers in the city are of the opinion that North Bangalore has the potential to turn a new leaf and become Greater Bangalore in the next three-five years.
The airport at Devanahalli has certainly upped the ante for the region, fuelling a lot of real estate activity in the areas adjacent to Outer Ring Road. With a host of proposed infrastructural developments such as the High Speed Rail Link, the BDA Peripheral Ring Road, the elevated expressway and broadening of the Bellary Road, North Bangalore is all set to become a self-sustained destination, following the footsteps of its counterparts-Gurgaon, Noida and Navi Mumbai.
USP of North Bangalore
For starters, the area is equipped with an international airport, and as seen, traditionally, cities are always built around airport. As per the proponents of the real estate market, growth in the residential real estate market banks on a couple of elements, namely-commercial growth, connectivity and the availability of land.
If the government pays heed to the basic infrastructure needs of North Bangalore, then it can sustain any kind of residential development. North Bangalore is batting a thousand in terms of connectivity and ample land supply, and this are the prerequisites to sustain any kind of development.
Unrestrained supply of larger land parcels and the shaping up of bigger housing projects along with commercial complexes, has certainly worked in favor of the region. The arrival of the airport has certainly raised the stakes in property pricing, add to it the long-term investment potential which is far better in comparison to other saturated areas.This has ensured North Bangalore get the attention it rightfully owns in regard to infrastructure development.
Greater Bangalore being a possibility
With the airport setting its base in Devanahalli, it was no less than a goodie bag in regard to potential for real estate development. With growth-commercial, residential and retail as well escalating in this region, the concept of Greater Bangalore, on the lines of Noida, Gurgaon and Navi Mumbai is eventually taking shape.
However, as developers quote that there is a dire need for integrated townships in the area to maintain a healthy mix of commercial and residential development, meeting the growing demands, as against the old school concept which includes of residential zone at one end and commercial at another.
