Bengaluru has long been synonymous with India’s IT and tech revolution. Known as the Silicon Valley of India, Bengaluru is a hub for startups, and IT companies. Its pleasant climate, cosmopolitan culture, and flourishing entrepreneurial ecosystem have attracted talent from across the globe, making it one of the most sought-after cities to live and work in India. It has witnessed remarkable growth in housing sales due to various factors, including the rising population, better infrastructure and new property launches.
Recognising the need to evenly distribute the growth and alleviate congestion in the central areas, the government is focusing on the development of North Bengaluru. Earlier considered to be in the outskirts, North Bengaluru is now evolving into a distinct and vibrant residential and commercial hub. The aim is to develop the region as a self-sufficient ecosystem.
Let’s explore how social and infrastructure development in North Bengaluru has transformed it into a thriving urban region.
Better connectivity
One of the most important factors contributing to North Bengaluru’s rise as a prominent residential destination is its smooth connectivity. Improved transportation infrastructure including well-planned expressways, widened roads, and flyovers has reduced travel time between the city’s central areas and North Bengaluru. Moreover, the Kempegowda International Airport, Namma Metro Project, upcoming developments around Peripheral Ring Road, Satellite Town Ring Road, among others have improved the connectivity in the region. The proposed metro line between Nagawara and Thanisandra would further improve the connectivity, making it an attractive real estate destination.
Infrastructural development
Bengaluru Signature Business Park, Aerotropolis Airport City, Global Financial District, among others would boost the infrastructural development of the region. These developments will attract national and international businesses to set up their operations here. The technology parks and subsequent influx of businesses have provided employment opportunities here. It has also catalyzed the growth of ancillary services, startups, and social infrastructure in the region. This will enrich the local economy, leading to an influx of educated and skilled professionals to the region.
Residential real estate boom
North Bengaluru’s infrastructural developments and expansion of economic activities have attracted homebuyers. The development of modern residential complexes, gated communities, townships, and luxury apartments has led to a thriving real estate market. To attract modern homebuyers, Grade A developers are blending nature with modern facilities. Green open spaces, community gardens, lakes, and lakefronts within residential complexes are in demand so that residents can have a sense of tranquility amid the bustling urban environment. The incorporation of modern designs and a range of contemporary amenities like sports clubs, executive clubs, amphitheaters, etc., inside the complex elevates the overall living experience.
Cultivating investors’ interest
Post-pandemic, North Bengaluru has emerged as one of the fastest-growing real estate markets. Micro-markets, such as Hennur Road, Jakkur, Yelahanka, and Bellary Road, are fast emerging as the most promising locations for investments. By improving infrastructure like connectivity, drainage, and other essential components, it has attracted companies thereby increasing IT activities in the region. This has led to a gradual movement of IT professionals from other areas of the city towards the northern region consequently increasing the demand for residential and commercial units. The investments from NRIs and domestic investors have nearly doubled recently. Surge in the value proposition of MSR Nagar as a prominent residential locality in North Bengaluru is an example of increasing consumer demand.
Conclusion
North Bengaluru’s journey from a peripheral area to a bustling urban landscape can be largely attributed to the rapid infrastructural developments in recent years. Enhanced connectivity, modern business hubs, and improved residential options have elevated its status to a preferred destination for businesses, investors, and homebuyers.
(The author is managing director and chief executive officer at Birla Estates.)
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K. T. Jithendran is the Managing Director & Chief Executive Officer (CEO) of Birla Estates Private Limited, the real estate venture of the Aditya Birla Group and a 100% wholly owned subsidiary of Century Textiles and Industries Limited. Jithendran was instrumental in the formation of Birla Estates, a foray of the Aditya Birla Group into Real Estate.
With a career spanning 32 years, Jitendra has been the Executive Director at Godrej Properties Limited (GPL) and Director of – the board of Godrej Properties. Prior to GPL, he worked with Mecon India Limited as a Metallurgical Engineering Consultant.
Jithendra has a degree in civil engineering from the Indian Institute of Technology (IIT) Kharagpur, a Post Graduate Diploma in Management from the Indian Institute of Management (IIM) Calcutta and an has also completed an Advance Management Program (AMP) from Harvard Business School (HBS).
