Residential development boosts due to expressways in Bangalore
Road over road, floyovers and underpasses, in last couple of years the city has seen it all. The aim was to make seamless connectivity from the city center with the remote localities.
However, the areas around these elevated roads are getting benefited from better social infrastructure and a further growth in commercial and residential options in the locality.
The plan for elevated roads started in 2006 with the Hosur Road Elevated Expressway to reduce the traffic congestion for a particular area could be diverted through this route. Followed by the Tumkur Road elevated expressway in 2007 and the Hebbal Yelahanka expressway in late 2010.
Elevated Expressway in Hosur Road
The Hosur road elevated expressway is the longest elevated national highway in the country, which got completed in 2010. The 10 kms, 4 lane highway costs around Rs 765 crores. The elevated expressway connects Central Silk Board junction to Electronic City. The expressway has benefited the commuters in that stretch early it used to take close to an hour but now it takes less then 15 minutes.
Residential area along this region have benefited due to this project. This is one of the most active regions of Bangalore for residential projects in the affordable category
Connectivity through the elevated expressway is extended to the localities of Koramangala, Sarjapur Road, Madiwala, Bommanahalli, Begur, Hongasandra, Mangammanapalya, G B Palya, Kudlu, Singasandra, Electronics City, Bommasandra, up to Jigani.
The price per sq. ft. in Hosur Road was at Rs 3320 in Oct- Dec 2012 quarter and then price appreciated to Rs 3863 in the next quarter of Jan-Mar 2013.
Elevated Expressway in Tumkur Road
The expressway got completed in 2011, the 19.5 kms NH-4 improved project along with a 4 lane elevated section of 4.5 kms which has changes the face of west Bangalore. Commuters can now directly move up to Pune and Mumbai on the one end and to Nelamangala and Dobbespet at the other end.
This project also extends connectivity to the city’s largest and oldest industrial area – Peenya Industrial Area and its upcoming offshoot- Greater Peenya Industrial Area. Moreover the upcoming metro will provide smooth travel in and out of the city at the western end.
Along with the connectivity through the Outer Ring Road, the Bangalore-Nelamangala expressway will also connect the localities of Rajajinagar, Malleswaram, Nandini Layout, Yeshwanthpur, Mathikere, Laggere, Peenya, T Dasarahalli, Hesaraghatta, Jalahalli, Madanayakahalli, Nagasandra, and other surrounding areas.
The price per sq. ft. in Tumkur Road was at Rs 4400 in Oct- Dec 2012 quarter and then price appreciated to Rs 6300 in the next quarter of Jan-Mar 2013.
Elevated Expressway in Hebbal- Yelahanka
The most awaited project since the completion of the international airport. After the completion of the airport, a signal free corridors was planned from GPO right up to the airport with grade separators at strategic junctions. But unfortunately the plan failed to regulate the ever increasing traffic traveling to and from airport as well as on to Hyderabad, despite of widening the highway into a six lane road.
The upgradation of this stretch of the NH-7 was taken by the National Highways Authority of India (NHAI) under the National Highways Development Project-Phase VII for a distance of over 22 kms from Hebbal. The 6-lane elevated section of 3.5-km begins from Hebbal and goes up to the Yelahanka bypass.
The other infrastructural developments comprises of six flyovers connecting major junctions, cattle crossings and vehicular and pedestrian underpasses. The Rs 680 crores project has passed its second deadline and work is still under construction. The High Speed Rail Link which will run parallel to the expressway will further extent and allow for faster access to the airport.
It is expected that the connectivity will be seamless from Mekhri Circle touching surrounding areas such as Ganganagar, Sanjaynagar, HMT layout, Anandnagar, RT Nagar, Hebbal, Sadahalli Cross, Kodigehalli, Amruthahalli, Jakkur, Yelahanka, Kogilu Cross, Bagalur Cross, Sahakarnagar, Vidyanagar, Chikkajala, Doddajala, IVC Road and Doddaballapur Road.
The price per sq. ft. in Yelahanka was at Rs 4100 in Oct- Dec 2012 quarter and then price appreciated to Rs 4500 in the next quarter of Jan-Mar 2013. The price per sq. ft. in Hebbal was at Rs 5200 in Oct- Dec 2012 quarter and then price appreciated to Rs 5300 in the next quarter of Jan-Mar 2013.
Seamless connectivity will lead to reduction in traveling time and push up the demand for property in the vicinity. According to the report by Knight Frank, the capital appreciation is expected in this region is round 8 to 10 percent.
