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Access to theairport throughthe upgradedBellary Road,
proximity to theORR and
establishedresidential areas
are boosting growth here
The RabindranathTagore Nagar (R T Na-gar) gained prominence
due to its proximity to the es-tablished residential locali-ties of north Bengaluru suchas Sadashivanagar, Dollar'sColony and Rajamahal Vilas.This neighbourhood also con-nects the Central BusinessDistrict (CBD) to the Kempe-gowda International Airportvia the Hebbal junction, andhas witnessed heightened
growth of physical infra-structure.
Ram Chandnani, DeputyManaging Director, CBRESouth Asia, says, "R T Nagaris another prominent locali-ty of north Bengaluru. The lo-cality has gained importancedue to its strategic locationbetween the city center andthe airport. This location ad-vantage has been furtherboosted with the completionof the elevated expresswayover Bellary Road."
Factors triggering growth
According to Shrinivas Rao,CEO - Asia Pacific, VestianGlobal Workplace Solutions,the key factors that have bol-stered the growth of R T Na-gar include proximity to theCBD and established eco-nomic hubs such as a promi-nent business park in northBengaluru; proximity to up-scale residential localitiessuch as Sadashivanagar andDollar's Colony; good socialinfrastructure with numberof reputed schools, collegesand hospitals; and good con-nectivity via Bellary Road andthe Outer Ring Road (ORR).
6THE TIMES OF INDIA | BENGALURU | THURSDAY | NOVEMBER 27, 2014
An upscaleneighbourhood
with a tag ofexclusivity, and
easy access to theairport and CBD,this locality hasalways been inhigh demand
Sadashivanagar is one ofthe prime upscale resi-dential neighbourhoods
in Bengaluru. It lies in prox-imity to the city center and en-joys easy accessibility to thenorthern suburbs. WithMalleswaram to one side,Mekhri Circle to another andKumara Park to the third, it isideally located from three im-portant connecting points - tothe Central Business District
(CBD), west and north Ben-galuru.
The presence of SankeyTank further adds to the drawof this area.
Coveted address
Sadashivanagar has re-mained a preferred residentialdestination of high net worthindividuals (HNIs). Satish BN, Executive Director - South,Knight Frank India, explains,"Many homes in the Raja Ma-hal Vilas Extension (built inthe wing formerly known asUpper Palace Orchards) are lo-cated right opposite the palacegrounds. Thus, the exclusive-ness of Sadashivanagar hasplayed a major role in attract-
ing potential homebuyers andinvestors alike, belonging tothe high income group (HIG)segment. Owning a propertyin Sadashivanagar is consid-ered to be a matter of pride."
Civic infrastructure is goodin Sadashivanagar. Road ac-cess is excellent consideringthe proximity to the CBD, sub-urban/peripheral locationsand the airport.
Options and price range
Sadashivanagar has a rela-tively limited number ofapartment projects as com-pared to the other areas of
Bengaluru. The residentialmarket here is more skewedtowards independent houses.Satish elaborates, "The guid-ance value in about 90 percentof Sadashivanagar is Rs 20,000per sqft. The lowest guidancevalue in the locality is Rs 15,000per sqft. The market values arefrom Rs 25,000-35,000 per sqft."
Om Ahuja, CEO - Residen-tial Services, JLL India, says,"Independent houses still com-mand the highest demand hereand available units sell for Rs15 crores and upwards."Shabeer Sait, Executive Headof Operations, Irshad's Prop-erty Matters, adds, "The start-ing price for the apartmentprojects in this area is from Rs5 crores onwards."
According to research byKnight Frank India, being apremium residential locationwith prices already in the high-er bracket, the price appreci-ation in Sadashivanagar is en-visaged to be average, ataround 6-10 percent per an-num. This can be largely at-tributed to limited new proj-ects in the pipeline, given thescarcity of land availability.
Yeshwanthpur, althoughprimarily industrial innature, is an evolving
market. It has benefitted main-ly due to its location advan-tage. It is close to Rajajinagar,an area which has taken offdue to large format develop-ments present and under con-struction. Connectivitythrough Tumkur Road hasbeen improved thanks to theupgraded NH-4 with the ele-vated highway. With the Metroline operational fromMalleswaram up to Peenya,this location is set to witnessmore growth.
Ram Chandnani, DeputyManaging Director, CBRESouth Asia, elaborates, "Yesh-wanthpur is characterised byhigh profile and major indus-trial establishments. Until afew years ago, real estate de-velopment here was primari-ly unorganised in nature, dot-ted with individual plot de-velopments and negligible re-tail real estate development.The introduction of organisedplayers in the region, howev-er, led to the re-development ofold industrial land parcels."
Metro advantage
The completion of 10 sta-tions as part of Reach III andIIIA of the Green Line is ex-pected to trigger developmentin locations around the sta-tions. Stations completed in-clude Sampige Road, Sriram-pura, Kuvempu Road, Rajaji-nagar, Mahalakshmi Layout,Sandal Soap Factory, Yesh-wanthpur, Yeshwanthpur In-dustry, Peenya and Peenya In-dustry.
Shabeer Sait, ExecutiveHead of Operations, Irshad'sProperty Matters, adds, "OncePhase I is complete and thesestations are connected to thecentral line at Majestic, de-
velopment will take off at amore rapid pace. The Ben-galuru Metro Rail Corporation(BMRCL) is also in talks to in-tegrate Metro stations withlarge format retail develop-ments. This will result in in-creasing footfalls while takingcare of the maintenance as-pect of the Metro stations too."
Integrated developmentsspur growth
The first self-service whole-sale store's outlet in India in2003 was among the first feworganised developments thatled to a change in the real es-tate profile of Yeshwanthpur.
Ram elaborates, "In the mid-2000s, a few other large and oldindustrial units were re-clas-sified from industrial to resi-dential/commercial land use,and thereafter developed forintegrated projects. Such proj-ects gradually led to the de-velopment of organised resi-dential and commercial activ-ity in the region. Further, withthe organic growth of Ben-galuru in recent years, someindustrial real estate activityhas been gradually shiftingoutwards - towards Nelaman-gala and Devanahalli."
Emerging residential hub
Yeshwanthpur has beengradually witnessing a shift inthe profile of real estate de-velopment, and has beenemerging as a prominent res-idential hub in the city.
Shabeer Sait says, "Yesh-wanthpur is still dominated byindustries. So, the target groupis mainly the workforce em-ployed here. The landing costof many apartments will notgo beyond the affordabilityrange which is Rs 50 lakhs fora two-bedroom apartment withan average size of 1,100 sqftand Rs 75 lakhs for a three-bed-room apartment keeping theaverage size to 1,500 sqft."
SADASHIVANAGAR
PREMIUM LOCALITY WELL-CONNECTED TO CBD
R T NAGAR
PROXIMITY TOGROWTH HUBS
DRAWSHOMEBUYERS
YESHWANTHPUR
DEVELOPMENTPICKS UP WITHCONNECTIVITYThe improved Tumkur Road, proximityto established residential locations and
Metro connectivity are turningYeshwanthpur into a prominent
residential location
Capital values rangefrom Rs 6,000-8,000 per sqftfor apartments, and be-tween Rs 8,000-9,000 persqft for residential plots.
Shrinivas Rao adds,"While under-constructionprojects range between Rs4,500-7,200 per sqft, manyof the projects in this es-tablished neighbourhoodfall under Grade-B devel-opments. High-end devel-opments by Grade-A de-velopers are located clos-er to Mekhri Circle (Bel-lary Road and towards CVRaman Road section) andHebbal (along ORR andBellary Road)."
Commercial and retail
Due to limited land avail-ability within R T Nagar,large-format commercialand retail developmentsare seen mostly along Bel-lary Road or the ORR. Elab-orating on the retail land-scape here Shrinivas Raosays, "R T Nagar, typically,is a catchment area forGanga Nagar and Hebbal.It comprises a mix of re-gional apparel and acces-sories brands clubbed withinternational F&B outletsand electronics brands.The CBI Road forms thecore of the retail hub inthis region."
LIVING here gives you a royal feeling. It is aplace like no other. You get addicted toliving here after a while. We have a veryactive resident welfare association. We have
planted many trees in the locality. We have abeautiful lake and lung spaces with the parks
here. These parks augment the health of the residentswith fresh air. In fact, this area is cooler than the citycenter with the greenery. In the mornings, you get theambience of a hill station.
Dr B Ramana Rao, Cardiologist and physician
IT has been over two years since I lived inthis locality and I am very happy with theprogress in infrastructure around. TheMetro Rail station is just a street away andthe Yeshwanthpur Railway Station is close
by too. One of the perks of living in thisneighbourhood is it is close to the shopping hub
of a mall which also houses top-end restaurants. While I am health-conscious and exercise in the gymwithin my residential enclave, I love golf and theBangalore Golf Club is just around the corner and soconvenient for a weekend tee-off. Yeshwanthpur is nolonger the locality it was a decade ago. Thetransformation is heartening.
Zeeshan Basu, Marketing professional
WE have been living in R T Nagar forwell over 30 years now and haveseen it develop rapidly. Ours is afamily business and we have two
shops on R T Nagar Main Road whichhas become a major shopping hub now.
Our locality which once had narrow dusty lanesboasts of wide roads. Proximity to theneighbourhoods of Dollar's Colony andSadashivanagar have increased demand in R TNagar for residential options as is evident in the twoand three bedroom apartment complexes comingup in every nook and cranny.
Ratna Shahani, Tutor
Joe Louis D’anto
Joe Louis D'anto
NOTE: The distances mentioned are approximate and taken from the nearest pointto the destination. The property values mentioned are indicative and vary based onexact location and property attributes.
LOCALITY SNAPSHOT
LOCALITY SNAPSHOT
NOTE: The distances mentioned are approximate and taken from the nearest pointto the destination. The property values mentioned are indicative and vary based onexact location and property attributes.
NOTE: The distances mentioned are approximate and taken from the nearest pointto the destination. The property values mentioned are indicative and vary based onexact location and property attributes.
LOCALITY SNAPSHOT
