Bangalore’s real estate is dynamic and is constantly expanding. The CBD area continues to see construction happening – largely on the retail and commercial front, than residential. To accommodate the growing floating population in the city, its borders have grown to take in what was once considered the outskirts of the city. The southern parts of the city seem to have more favor with residential development. Anekal, around 40km from the CBD is one such area that is gaining popularity.
Anekal literally translates from Kannada into “elephant stone” and is also known locally as Gajashella Pura or “the town of elephant rock”.
1. The Geography
Two main stretches make up Anekal. One begins at Chandapura and goes to Anekal. The other stretches from Bannerghatta road to Anekal. A lot of real estate activity is centered in these areas and it is even being heralded as the next IT hotspot in Bangalore. The opening up of the approach road to ITPL and the sheer number of real estate and commercial development stands testimony to its rising popularity.
2. The Realty Development
Development in Anekal is segregated –Bannerghatta road is the residential hub and Chandapura is seeing a lot of IT related development. Realty activity here is primarily by quality Tier-2 developers. With the rising popularity of the area, a number of Tier-1 developers are earmarking properties for development here.
The residential development in Bannerghatta has an added advantage. The area connects to Tamil Nadu via Hosur and the location is witnessing a lot of joint development as well. Chandapura, on the other hand, holds immense potential in terms of commercial land availability.
Infrastructure-wise, roads leading to ITPL are wide. But the interior roads of the Bannerghatta sector will need some work done in order to facilitate smooth flow of traffic. Plans for this are underway and that should be taken care of soon. Ground water levels are extremely good here. The area has a lot of green space available too, something that is missing in the CBD; thanks to the wildlife and protected areas in the vicinity.
Construction here is following a pattern of sorts with a lot of plotted development. Villa projects are also in plenty here.
Rates in the area
Average Rs 4250 per sq ft (in a lower-end locality) to Rs 4930 (in an upper-end locality)
- Pure Land for sale (interiors)– Rs 600 to Rs 750 per sq ft
- Pure Land for sale (main road) – Rs 2500 a sq ft
- Pure Land for sale (vicinity of main road) – Up to Rs 1000 a sq ft
Commercial development is on the way of getting organized here and there are several plans in for some good projects. The Chandapura stretch will continue to see IT development and in terms of residential growth, Bannerghatta road is quite saturated till the Bannerghatta Park. There may be some land left on the interior roads where development may be possible.
Investing for personal use in any of these areas may be good as prices will continue to appreciate providing good returns. Budget homes which are coming up in plenty on the interior stretches of this sector will be easily available to potential buyers, thanks to the leeway provided in the new budget.
Bangalore’s real estate development is increasingly on the lines of sectors being self-sufficient. Work, entertainment and essentials are all within a specific radius, bringing down commuting time. Anekal is well on its way to becoming one such self-sufficient reason, making it a great place for a potential investment.
Ramesh Kumar has extensive experience in real estate in a career spanning over a decade. With his critical expertise in sales and marketing, he has successfully launched and closed out projects across a complete spectrum of properties like plots, budget apartments, comfort homes as well as luxury villas.
Ramesh Kumar holds a Post Graduate Diploma in Management from Bombay University and is currently serving as the Deputy General Manager – Marketing & Sales at Vakil Housing.