Devanahalli property market: An overview

The Devanahalli real estate scenario is experiencing major growth, owing to the presence of the Bengaluru airport, as well as easy connectivity to several upcoming business hubs. Demand has shot upwards for flats in Devanahalli.

Devanahalli is located approximately 40 kilometres away from Bangalore and has a rich history. The area’s realty prospects have been transforming rapidly, since the multi-billion dollar Business Park with two IT parks, started being developed on 400 acres next to the airport.

Home to the second-largest airport in the country, Devanahalli is also where a Science Park, Aerospace Park and a Rs 10-billion Financial City are coming up. Devanahalli lies near the upcoming BIAL Investment Region, which is slated to be the largest such IT region in the country. Devanahalli is also the birthplace of the Tiger of Mysore Tipu Sultan and is home to tourist attractions like the Devanahalli Fort.

Home seekers looking for apartments in Devanahalli, have various options available here, at reasonable price points. The leading builders in Devanahalli consist of Puravankara, Prestige, Sobha, Sekhar, Brigade, Salarpuria, Ozone and many others. Some of the landmark projects in Devanahalli are priced quite competitively, in comparison to nearby Devanahalli localities like Yelahanka, Hebbal and others. Devanahalli stands out for its lower prices and most importantly, the bevy of commercial developments that are expected here in the near future.

 

Connectivity options to nearby Devanahalli localities

• Kempegowda International Airport is located around 5 kilometres south of Devanahalli via the NH 7.
• NH7, which connects Hebbal to Devanahalli, has been well-planned and expanded to a 6-lane road.
• BMTC bus network connects this locality to several other parts of the city.

 

Employment hubs closest to Devanahalli

• Embassy Manyata Business Park – 32 kilometres via NH 44.
• Koramangala – 44 kilometres via Bellary Road.
• International Tech Park (ITPB) – 38.3 kilometres via State Highway 35.
• Whitefield – 38.2 kilometres via State Highway 35.
• Companies like TCS and Wipro are starting to come on board the Investment Region plan, which is likely to generate 4 million jobs.

 

Schools in Devanahalli and other social infrastructure

The residents of Devanahalli have access to modern social amenities. Reputed schools in Devanahalli include the Akash International School, Gnana Deepa Academy Residential School and The School of Ancient Wisdom. Leading hospitals in Devanahalli include the Columbia Asia Hospital, Akash Hospital and Regal Hospital, among others. Popular malls in Devanahalli include the Phoenix Market City Mall, World Market mall and Elements Mall, to name a few.

 

Physical infrastructure in Devanahalli

• The Aerospace Park & SEZ will be fully occupied by 2018.
• The International Convention Centre to be ready soon.
• Shell, IFCI and Ascendas’ campuses will be ready soon.
• ITIR Phase-1 will be ready by 2020 and several IT companies will move here, creating anywhere between 1-1.5 million jobs.
• Planned metro connectivity via phase-2.
• New satellite ring road to link to Doddaballapur.

 

Price trends in Devanahalli

• Price appreciation – 2%-3% over the last year.
• Current property rates – Rs 3,700-5,603 per sq ft.

 

Why should you invest in Devanahalli?

Ever since the Kempegowda International Airport was established, Devanahalli has been the talk of the town in Bengaluru. Considering the price trends in Devanahalli and all the other positives discussed above, it is certain that the demand for residential properties in this area, is bound to increase further in the future. The rates are very competitive and should rise, once all the commercial developments take place and the metro network is established.

There are some teething issues, including water supply and transportation but the NH-7 and upcoming metro, will take care of the latter. Devanahalli makes for a fantastic investment destination, keeping in mind the slew of developments taking place in this stretch.

 

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