Devanahallis realty landscape is beginning to change.From a quiet,far-flung area,its turning into a hubof realestate activity thanks to the airport,the under-construction expressway and the proposed highspeed rail link to the airport.
The airport had generated excitement in the property market when it was opened in 2008.That excitement wore down during the slump.But its reviving again,particularly with the infrastructure commitments.
The focus is currently on villas,and developers launching villas and row houses in Devanahalli are pricing it between Rs 5,000 and 8,000 per sft.Prestige Estates & Projects is developing 225 villas on the foothills of Nandi Hills priced over Rs 5 crore each.Brigade Orchards,an integrated township across 120 acres,is selling villas at around Rs 2.90 crore each.Sobha Developers has launched a 10-acre plotted layout near the airport.
Hiranandani Upscale is selling apartments at Rs 3,000 per sft and Hoysala Corpus s 2-BHK apartment is priced at 2,800 per sft.
Devanahalli will witness growth similar to Gurgaon.The Hebbal-Devanahalli road has reduced the commute time drastically.Infrastructure developments will positively impact residential development, said Ravindra Pai,MD,Century Real Estate.
The government has planned a 6-lane carriageway that will form a ring between the Outer Ring Road and the Satellite Town ring road in Devanahalli.The closest node to this site will be at Kogilu junction on NH-7.This will improve connectivity between NH-7 and the non-CBD commercial areas like Whitefield and Hosur, said Avinash Rao,regional director-south at real estate consultancy Knight Frank India.
Unlike Hebbal,where commercial activity is beginning to catalyse residential development,Devanahalli still remains an investor-led market due to lack of social infrastructure.Devanahalli is now a market for second homes.I dont see it emerging as an end user market in the short term, said Karun Varma,MD for Bangalore and Kochi at real estate consultancy Jones Lang LaSalle India.
Real estate activity in Devanahalli will gather further momentum only when commercial activity in the area increases.
Currently its restricted to the airport and its associated activities.The workplace remains predominantly in the south and east of Bangalore.Workplaces make an area vibrant.Though Devanahalli is a good market to enter,one can expect good capital value appreciation in 5-7 years, said Irfan Razack,CMD of Prestige Group.
The water table beyond Yelahanka is a major concern,and it is not clear when the government would provide water to private layouts.
The airport had generated excitement in the property market when it was opened in 2008.That excitement wore down during the slump.But its reviving again,particularly with the infrastructure commitments.
The focus is currently on villas,and developers launching villas and row houses in Devanahalli are pricing it between Rs 5,000 and 8,000 per sft.Prestige Estates & Projects is developing 225 villas on the foothills of Nandi Hills priced over Rs 5 crore each.Brigade Orchards,an integrated township across 120 acres,is selling villas at around Rs 2.90 crore each.Sobha Developers has launched a 10-acre plotted layout near the airport.
Hiranandani Upscale is selling apartments at Rs 3,000 per sft and Hoysala Corpus s 2-BHK apartment is priced at 2,800 per sft.
Devanahalli will witness growth similar to Gurgaon.The Hebbal-Devanahalli road has reduced the commute time drastically.Infrastructure developments will positively impact residential development, said Ravindra Pai,MD,Century Real Estate.
The government has planned a 6-lane carriageway that will form a ring between the Outer Ring Road and the Satellite Town ring road in Devanahalli.The closest node to this site will be at Kogilu junction on NH-7.This will improve connectivity between NH-7 and the non-CBD commercial areas like Whitefield and Hosur, said Avinash Rao,regional director-south at real estate consultancy Knight Frank India.
Unlike Hebbal,where commercial activity is beginning to catalyse residential development,Devanahalli still remains an investor-led market due to lack of social infrastructure.Devanahalli is now a market for second homes.I dont see it emerging as an end user market in the short term, said Karun Varma,MD for Bangalore and Kochi at real estate consultancy Jones Lang LaSalle India.
Real estate activity in Devanahalli will gather further momentum only when commercial activity in the area increases.
Currently its restricted to the airport and its associated activities.The workplace remains predominantly in the south and east of Bangalore.Workplaces make an area vibrant.Though Devanahalli is a good market to enter,one can expect good capital value appreciation in 5-7 years, said Irfan Razack,CMD of Prestige Group.
The water table beyond Yelahanka is a major concern,and it is not clear when the government would provide water to private layouts.
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