- Bengaluru is one of the fastest growing cities in India on different parameters demography, economy, rising number of start-ups, growing HNI and UHNI population, rapid infrastructure developments and other vital aspects of city growth.
- Bengaluru is a ring radial city having witnessed developments in all the quadrants of the city. West Bengaluru is the old Bengaluru while South, East and North regions have witnessed significant developments in the IT/ITeS and technology sectors. Amongst all the micro-markets, North is the epicenter of growth since Bengaluru International Airport is announced and operationalized in 2008.
- In the early 2000s, there were speculations - whether the growth of the city will move towards Bengaluru North or not? Today, the answer to the question is certainly a yes! Infrastructure improvements and proactive Government initiatives have led to growth in the real estate developments in this micro-market.
- In the last two decades, the micro-market has witnessed major infrastructure improvements on all the fronts – formation of Local Planning Authorities (LPAs) to govern developments, expansion at the international airport and improving infrastructure (Satellite Town Ring Road and metro works).
- The economy of Bengaluru North is driven by multiple sectors – IT/ITeS, pharmaceuticals, engineering, aerospace, defense, and research companies. Textiles and hardware manufacturing are among the key sectors witnessing growth in this region. With Foxconn setting up a factory across 300-acres in this region, real estate developments in the region will further gain an impetus.
- Bengaluru North is now in a state of flip and witnessed major growth in different real estate developments – commercial, retail, residential, education, healthcare and others are taking off in a major way in the last 3 years or so. Bengaluru North will be one of the key micro-markets in the coming 3 years and will witness unprecedented opportunities across asset classes of real estate.
- Bengaluru North is a large region. Therefore, to analyze its status and future potential we have divided it into 7 clusters which are as follows:
- Cluster 1: Yelahanka – Doddaballapura Road
- Cluster 2: ORR (Hebbal Jn. – Hennur Jn)
- Cluster 3: Bellary Road (Hebbal Jn. to Yelahanka Jn.)
- Cluster 4: Thanisandra Main Road & Hennur Main Road
- Cluster 5: Bellary Main Road (Yelahanka Jn. to Sadahalli Jn.)
- Cluster 6: Bagalur - Devanahalli
- Cluster 7: Nandi Hills Road
- This report provides detailed information and analysis on current infrastructure works and their impact on the real estate sector. It provides detailed market information on office, industrial, retail, healthcare facilities currently available, under construction and planned activities across different clusters of Bengaluru North.
- This report will help developers, investors, occupiers, and operators to understand available opportunities in commercial, residential, retail, hospitality, and warehousing sectors across different clusters of Bengaluru North region. We have analyzed the opportunities based on economy, market conditions, infrastructure works.
- The report covers the following:
- Defining Bengaluru North region, classification in different clusters and commentary on statutory authorities for real estate development in the region.
- Existing and Upcoming Infrastructure projects and their impacts on real estate
- Detailed Information on Real Estate developments in the region – including IT/ITeS and KIADB promoted Hardware & Software Parks
- Office Market Analysis in Bengaluru North
- Retail Market Analysis in Bengaluru North
- Hospitality Market Analysis in Bengaluru North
- Key existing and upcoming institutions and number of students studying the institutions.
- Key existing and upcoming occupiers in the IT/ITeS, warehousing and industrial sectors
- Real Estate Opportunities in Office, Warehousing, Residential, Retail, Hotels across different clusters of Bengaluru North region.
- Until 2030, Bengaluru North is expected to remain a preferred micro-market by the companies for expansion. Improvements in the infrastructure, development of large industrial parks by the Government along with expansion at the airport are likely to fuel – residential, commercial, industrial, retail and hospitality developments.
- This report has been thoroughly researched and referenced, with relevant information collected through interviews with architects, developers, investors, owners, and statutory authorities, along with our own proprietary research.
