Hosur Road is a lengthy and efficacious four to eight lane highway running through the National Highway 7. Beginning at the Vellara Junction on Richmond Road, it winds through Koramangala and Silk Board, and runs all the way upto the border town of Attibele in the Krishnagiri district of Tamil Nadu. The ‘villages’ of Bommanahalli, Hebbagodi, Singasandra, Chandapura and Attibele which once held the status of out-skirt suburbs, now fall within the developing belt of Hosur Road, bringing in growth, movement, and progress to these areas.
The growth of Electronic City as a large IT hub within the city led to the development of Hosur Road as well, creating a brand new and highly equipped residential and commercial market. Further contributing to the expansion and evolution of this area was the construction of the elevated highway connecting Madivala to Electronic City. Although this led to an initial insurgence in traffic, the construction of peripheral roads provided easier commute for residents.
Several residential complexes have sprung up on either side of the highway, such as eateries, banks and ATMs, fitness centres and departmental stores, providing a complete living experience that caters to the residents need.
Although this area initially targeted professionals working in the IT/ITeS industry, its affordable property rates, continued development of infrastructure, and great connectivity has attracted hordes of people from a multitude of professions.
Connectivity and Transit Points
Hosur Road boasts of great connectivity and accessibility, making it a thriving locality growing in popularity. Hosur Road lies close to Baiyappanahalli, the terminal point on the east-west corridor of the Namma Metro, allowing for arrival at prime destinations like Indira Nagar and M.G. Road within minutes. Bangalore City Junction, the main railway station in Bangalore, lies 9 km away and is accessible via auto rickshaw or taxi services.
Travelling by road from Electronic City to the already established residential localities like Koramangala, BTM Layout, and Taverekere are 12 kms away, which proves to be hectic travel for the residents. But the newly constructed elevated 11-km tollway provides direct access to Electronic City, effectively decreasing the travel time.
Bus stands at Central Silk Board and Madivala being within close range. BMTC buses that pass through these stops take commuters to areas like Shanti Nagar, Majestic and Shivaji Nagar, and other parts of the city.
The Kempegowda International Airport is approximately 40 km away from Hosur Road (Vellara Junction), and is easily accessible via KIA buses, with the frequency of half an hour.
Factors for Growth in the Past
This area has expanded horizontally and linearly due to the recent IT boom in the city, as well as initiatives by authorities to improve civic infrastructure. The construction of the elevated tollway, along with a number of service roads and by-lanes along the highway, has provided easy accessibility to this area, drawing lots and lots of people.
Saturation and stagnant growth in the Central Business District (CBD) of Bangalore has also led to the development and expansion of this belt, with old landmarks such as the MICO factory and Bhandary Steel factory being converted into residential complexes. Due to Hosur Road’s close proximity to Electronic City, this locality is witnessing the development of budget apartments to house the constant influx of IT professionals who prefer living close to work.
Residential & Commercial Market
Hosur Road caters primarily to the needs of the ever-growing IT population that flock this locality, complete with large multistory apartment complexes and smaller budget BHKs.
The current sale prices for residential apartments in Hosur Road range between Rs 3,700 and Rs 4,000 per sq. ft., and the cost for builder floor apartments oscillates between Rs 3,350 and Rs 3,800 per sq. ft. Residential plots are fewer in number, and costs range from Rs 11,300 to Rs 16,800 per sq. yd. Renting an apartment may cost anywhere between Rs 13 to Rs 20 per sq. ft., allowing for affordable living.
Primarily a residential area enjoying close proximity to the likes of Electronic City and Koramangala, Hosur Road provides few outlets for the commercial market. Typical rental prices to lease a commercial space for use will range from Rs 30 to Rs 42 per sq. ft.
One of the major challenges faced by the residents around Hosur Road is the never-ceasing traffic. Not only does it cause traffic snarls even during normal hours, but also poses as a danger to pedestrians. Other key problems include poor lighting, improper waste disposal, and petty thefts.
Factors for Growth in the Future
To tackle the issue of safety faced by the pedestrians in the locality, authorities have proposed a ‘skywalk’ to be built at the Forum junction of the road, replete with an escalator and a lift. The civic authorities’ Master Plan 2015 propounds the widening of Hosur Road from its original 30 m to a solid 45 m, extending to Silk Board. This will improve the accessibility to the busy bus terminus of Central Silk Board, allowing for further increase in real estate boom.
A large number of IT giants are planning to set up their offices on this belt, adding a further impetus to developing housing complexes.