Bengaluru is aptly connoted as the Silicon Valley of India due to its stellar incorporation of Information Technology and promotion of digital modules throughout the city for a streamlined operation. With the establishment of several Tech hubs throughout, Bangalore is put forth with the commission to provide a residential zone to accommodate wide demography gathered from Pan-India and even ex-pats.
Bruhat Bengaluru Mahanagar Palike BBMP is the civic
body that has undertaken the administrative responsibility of the Greater Bangalore
Metropolitan Region. With the determination to provide an integrated space of
corporate as well as the residential sector for the working professionals,
Electronic City was proposed to assimilate one of the largest electronics and
IT industrial parks.
Karnataka State Electronics Development Corporation
or KEONICS was authorized for strategic planning of this region in 1978. Here
are a few factors to analyze the property value of this area.
Industrial
Park
First off, the
key defining feature of Electronic City is the expansive hub that accommodates
over 200 companies from IT and ITES sectors divided into four zones- Phase I,
Phase II, Phase III and Phase IV.
For regulation of
this vast area, Keonics had summoned the Electronic City Industries Association
or ELCIA that have deployed 500 security officials and a 24/7 surveillance with
the strategic installation of CCTVs.
The top few MNCs
included in this network are Wipro, Tech
Mahindra, Infosys, Hewlett-Packard, HCL, Schneider Electrics, Tata Consultancy
Services, Yokogawa etc.
While several
campuses such as Venkatadri IT City,
Salarpuria Infozone, Velankani Tech Park, Equinox Tech Park, Harita IT Park have
been encapsulated within the Electronic City Phase I.
The other significance of this Industrial Park
is that Public Sector Undertakings PSUs have also established their base in
these areas such as Bharat Heavey
Electricals Ltd BHEL, Indian Telephone Industries Ltd ITI, Karnataka States
Small Industries Development Corporations Ltd KSSIDC, and many more that
offer government jobs for financial stability.
Such an extensive employment hub is one of the
reasons for the solid real estate value of properties
in Bengaluru/Bangalore.
Impeccable
Connectivity
While traffic in Bangalore
is an incessant issue, several modifications have been made to the physical
infrastructure. The most prominent of the implements is the Electronic
City Elevated Expressway that has optimized the space
utilization and relieved traffic from the usual after-work commute. This
expressway stretches from Silk Road Junction to Electronic City, thus reducing
the journey to mere 10 minutes.
The NICE Ring
Road is a proposed 4-6 lane private tolled expressway, which is a segment of
the Bengaluru-Mysore Infrastructure Corridor (BMIC) that will allow access to
nearby localities. A significant portion of this ring road covering the area of
Electronic City has been up and functioning.
Hosur Road is
another such highway that has engulfed the perimeters that stretches from South
Bengaluru to National Highway-7. This has provided swift access to the
Electronic City with an 11 km long tollway.
The Kempegowda
International airport has instated India’s first-ever HeliTaxi Services that
reduce the journey from Electronic City to the airport to mere 15 minutes.
The Cantonment
Railway station can be reached from the Electronic City via the Electronic City
Expressway in under 45 mins; whereas the proposed yellow line of the Namma
Metro rail will connect Electronic City from Rashtreeya Vidyalaya Road to
Bommasandra.
With such
impeccable connectivity, a huge demand for 1, 2, and 3 BHK apartment in Bangalore has particularly surged in this area.
Accessibility
to Fundamental Services and Recreational Activities
With the major components in place, the
facilitation of social and retail infrastructure was in order. KEONICS has
firmly stacked the place by establishing quality fundamental services within
the region.
Hospitals such as
Vimalalaya Hospital, Narayana Multispeciality
Clinic, Kauvery Hospital etc; schools like Delhi Public School DPS Bangalore, Sorsfort International School,
Bluebell Public School etc are all located within the premises of
Electronic City that has encouraged several residential complexes with 1, 2,
and 3
BHK flats for sale in Bangalore.
Several malls
like DMart, Forum Mall, Village
Hypermarket etc; star hotels such as The
Oterra Hotel, Golden Tulip etc, and other pubs, lounges and eateries
present a much-needed break from the hectic lifestyle. Younger crowd prefer to
reside in such areas among other apartments
in Bangalore owing to the thriving nightlife.
Real
Estate Sector
The primary intention of the real estate
developers is to provide conducive residences to the working crowd of the city.
Several projects have been introduced in the Electronic City in accordance with
the multiplying demand of an average of 2
BHK flat in Bangalore.
One such prominent project is Kolte-Patil iTowers Exente located at
the prime location of Electronic City between Phase I and Phase II, providing
configurations of 2 and 3 BHK flat for
sale in Bangalore.
iTowers
Exente has won coveted real estate awards due to redefining
modern living, as it is strategically placed in the hub of South-East
Bengaluru, equipped with several amenities and 3-sided scenic views due to its
high elevation.
In
conclusion:
With all these factors contributing to the
rapid development of this area, it is safe to say that the
Electronic City is a rather beneficial ROI, also assuring favorable rental returns.
RERA No-
PRM/KA/RERA/1251/310/PR/171026/000862
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