The story of Bengaluru’s Electronic City began when the first ever Chairman and Managing Director of Karnataka State Electronics Corporation decided to invest in a land parcel on the outskirts of the city to build an electronics hub. Phase I of this project was developed over an expanse of 332 acres as early as 1978. The authorities of both Karnataka Industrial Area Development Board (KIADB) and Karnataka State Electronics Development Corporation Limited (KEONICS) were equally involved in the birth and further growth of this influential IT hub of the city.
Electronic City lies in the southernmost outskirts of Bengaluru. Phase I lies right next to the Hosur Road, sandwiched between Phase II on its east and Phase III on its west. It consists mostly of retail hubs of electronic goods and services, with large land parcels dedicated to IT-SEZs. The development has been so extensive that the IT industry in Electronic City Phase I is completely saturated.
Connectivity and Transit Points
The Hosur Road, aka the NH-7, runs parallel to Phase I to the north-east, and is one of the major access roads in this region. It connects this locality with important localities like Silk Board Junction, Madiwala, and Brigade Road. The famous NICE Ring Road, demarcating the southern border of Bengaluru, runs quite close to Phase I, and is used by many to access the localities of Gottigere, Kengeri, as well as the Bangalore Mysore Expressway.
The Electronic City Bus Depot (Depot-19) is the major bus stand in the region. Although it falls under Phase II of Electronic City, it caters widely to the needs of all the other sub-localities in this region as well. It witnesses a total of over 5000 trips daily, including both starting and passing trips, towards Attibele, Anekal, and Chandapura. There are also a number of smaller bus stops within Phase I itself, namely Shikaripalya Cross, Electronic City State Bank, Electronic City Infosys Gate, and Konappa Agrahara.
The nearest railway transit is the Heelalige Railway Station, which lies 9 km from Electronic City Phase I. This station is not however conducive to inter-state travel. The Bangalore City Junction and the Yeshwantpur Railway Station are 23 km and 28 km away respectively, from Electronic City Phase I. The airport is another story altogether. Located all the way in North Bengaluru, it is 54 km away from Phase I of the Electronic City. The airport road however is a delight to travel on and provides for quick and easy commute.
Factors for Growth in the Past
Electronic City was born out of the vision to develop an industrial town with small-, medium-, and large-scale industries. Phase I was the earliest developed phase of Electronic City. In fact, to this date, Electronic City has remained synonymous with Electronic City Phase I. The IT and electronics bigwigs like Infosys, Wipro, Robert Bosch Engineering and Business Solutions, Celstream Technologies, OnMobile Global, Microland, Fanuc India, and many others have all been situated right here. And it was with the set-up of these company offices that Phase I was transformed from the sleepy village on the outskirts of Bengaluru to an industrial and commercial hub.
Industrialisation aside, the development of physical infrastructure around Electronic City contributed plenty to the rapid growth of Phase I. A notable development is the Bangalore Elevated Tollway Ltd or BETL Flyover, connecting Silk Board Junction and the Electronic City Junction. This 9-km long, 4-lane, 2-way flyover has reduced travel time between these two transit points of the city from 1 hour to 10 minutes.
Residential and Commercial Market
Residential Market Trends
One look at the residential market of Electronic City Phase I and it seems like the area has been developed over a long period. The market is dominated by apartment buildings that have come up in the recent past, followed by individual houses and villas, and residential plots in Electronic City Phase I. But the property prices here are much lower than elsewhere in the city, mostly because of the comparatively low demand and its location on the outskirts of Bengaluru. Spacious 2 or 3 BHK apartment units are available at Rs 1,600-2,200 per sq. ft. for sale, and Rs 15,000-20,000 per month for rent.
Commercial Market Trends
The commercial market in Electronic City Phase I is thriving. The commercial properties and office retail spaces available for sale here are priced low, just like their residential counterparts. The rate for commercial buildings lies in the price bracket of Rs 2,000-2,250 per sq. ft., while the rent lies between Rs 38-45 per sq. ft.
The civic amenities in Electronic City Phase I have always been up to the mark, with rare water or power shortage problems. Perhaps the two notable challenges for this sub-locality is the still underdeveloped residential sector and inadequate social infrastructure. The residential sector under Phase I is not properly developed, even after two decades. And the roads are badly broken and damaged beyond the Wipro Gate 16. There are no government parks and playgrounds either.
Factors for Growth in the Future
Investors are waiting for the upcoming Namma Metro Phase II to illuminate the investment possibilities on this side of the city. A new line is coming up, connecting E.V. Road and Bommasandra. A number of metro stations will be coming up in and around this region, especially the Electronic City I Metro station. With such improved connectivity, Electronic City will overcome the only hurdle it has standing in its path at the moment – of lying in the outskirts of the city.
Another reason for the residents and businessmen of Electronic City to rejoice is the upcoming incorporation of all three phases – I, II, and III - under the jurisdiction of an industrial authority, which is going to consist of representatives nominated from the companies in Electronic City. With the establishment of Electronic City as an industrial township, there will be more focus on industrial and economic growth in this region. Projects will move faster, without being bogged down by bureaucratic red tape.
The Cyber Park project in Electronic City Phase I is a work-in-progress. It is contributing aplenty in attracting companies from all across India and abroad. Now, more industries are showing interest in setting up their company offices in this magnificent infrastructural testament.