Why Kanakapura Road?

Bangalore’s rapid development has seen various sectors flourish, and one such emerging area is Kanakapura Road. The city’s real estate market is poised for significant growth, with an anticipated annual rate of 30% over the next decade, attracting foreign investment totaling $30 billion. The preference of Non-Resident Indians (NRIs) to settle in south Bangalore, drawn to its cosmopolitan atmosphere, further contributes to the area’s appeal. As signs of economic recession dissipate, companies are actively hiring, making Bangalore an attractive destination for individuals seeking to establish roots.

 Kanakapura Road, situated in south Bangalore, is a focal point of this growth. Alongside other prominent locations like Sarjapur Road, Electronic City, and Mysore Road, the stretch is witnessing substantial development, particularly in the IT space. To facilitate understanding, the area can be divided into three main parts.

 The first section starts at Banashankari, located in the heart of South Bangalore. However, the development potential in this area has been largely exhausted.

 The primary section of Kanakapura Road extends from the Outer Ring Road at Banashankari up to the Khoday’s factory. This stretch includes significant locations such as Harohalli and the Art of Living campus, indicating a burgeoning center for growth and development.

 The third sector, beyond this, comprises mainly agricultural land that several builders have acquired for large-scale properties. This expansion has also influenced peripheral regions like Konankunte, parts of JP Nagar, Uttarahalli, and surrounding areas.

 The strategic location and increasing investment in Kanakapura Road make it a focal point for real estate development. The combination of economic growth, cosmopolitan appeal, and a surge in hiring activities positions this area as a key player in Bangalore’s evolving landscape. As businesses and residents continue to be drawn to the region, Kanakapura Road stands poised to contribute significantly to the city’s ongoing urban transformation.

The real estate scenario on Kanakapura Road is experiencing a shift, with a particular focus on property purchases rather than rentals. Currently, commercial and residential rentals are not in high demand, prompting an emphasis on property ownership. In terms of pricing, apartments in the Rs 3,000 to Rs 3,500 per sq ft bracket are prevalent. In the initial sector of Kanakapura, older homes, more than 15 years old, entering the market can command prices around Rs 8,000 per sq ft. Newer apartments are priced in the range of Rs 5,000 to Rs 6,000 per sq ft, while resale units hover around Rs 5,000 per sq ft.

Moving into the second stretch of Kanakapura, there is a significant presence of budget housing, with apartments in the price range of Rs 3,000 per sq ft. The region’s potential for growth is underscored by an enhanced focus on connectivity and the timely completion of ongoing infrastructure projects, positioning it as a burgeoning residential hub.

 Two major factors contributing to the attractiveness of this micro market are affordable land prices and the availability of Cauvery water. Renowned residential developers like Sobha, Nitesh, Brigade, Concorde, among others, have chosen to establish their projects in this area. It has become a preferred destination for those working in Electronics City and Bannerghatta Road.

 Kanakapura Road is poised to emerge as a hot destination, particularly given the concentration of development in Yelahanka, Whitefield, and Sarjapura regions until 2012. The area, including its extensions, is considered relatively untapped and is expected to witness more residential development than office space development, followed by retail and commercial establishments.

 The imminent arrival of a massive tourist hub is projected to drive up property prices in and around the Kanakapura Road area over the next five years. According to property site magicbricks.com, the current prices for a square foot of land range from Rs 3,150 to Rs 3,850. A two-bedroom flat may cost between Rs 30-35 lakh, while three-bedroom units start around Rs 50-55 lakh.

 The real estate landscape is also influenced by the Metro Rail network, with the presence of Metro Cash and Carry on Kanakapura Road attributed to the affluence of families in the area and the widespread small retail network. Anticipating the expansion of the Metro Rail network to Konanakunte, connected to Majestic and subsequently to M G Road, housing activity along Kanakapura Road is expected to witness rapid growth. Overall, the region is on the brink of significant transformation and holds substantial potential for real estate development in the coming years.

The impending completion of Metro Rail Phase I, scheduled to reach Puttenahalli and potentially extend to Anjanapura Township by mid-2014, is having a significant impact on the real estate dynamics in Bangalore, particularly along Kanakapura Road. The extension of the Metro is contributing to the sustained attractiveness of residential destinations such as J P Nagar and Banashankari.

 The prospect of enhanced connectivity to central business districts through Namma Metro, even from areas as distant as Tataguni, is adding to the allure of Kanakapura Road. As a result, this thoroughfare is gaining increased attention from property buyers and investors.

A study conducted by real estate portal 99acres.com has shed light on the notable impact of the Metro on property prices in specific areas. After the launch of the first reach of the Metro, there has been a discernible upward trend in property prices along Kanakapura Road and Jalahalli, the latter being part of the upcoming Metro reach. The anticipation of improved connectivity and convenience is translating into a higher price push in these areas.

In developed stretches along Kanakapura Road, land values have surpassed Rs. 3,500 per sq ft, indicating a robust real estate market. Furthermore, residential units built by developers in this area are commanding prices of nothing less than Rs. 4,000 per sq ft. The Metro’s influence on property prices underscores the importance of transportation infrastructure in shaping real estate trends, with buyers placing a premium on accessibility and connectivity to major hubs.

 As the Metro project progresses and more areas become connected, the ripple effect on property values and desirability is likely to continue. Kanakapura Road, with its strategic location and the promise of improved connectivity, is poised to see sustained growth and demand in the real estate market. The study’s findings highlight the intricate relationship between transportation infrastructure development and the evolution of property markets in rapidly expanding urban areas like Bangalore.

The surge in real estate activity along Kanakapura Road is attributed to several key infrastructural developments, making it a focal point for residential growth. The area has gained prominence on the real estate radar due to the following major infrastructural developments:

NICE (Bangalore – Mysore Infrastructure Corridor) Road:

• The establishment of NICE Road has significantly enhanced connectivity to key areas such as Electronics City, Bannerghatta Road, and Mysore Road.
• This well-planned infrastructure corridor has facilitated smoother transportation, reducing travel time and improving accessibility for residents and businesses in the region.

 Bangalore Metro Phase 1 (Under Construction) Till Puttenahalli:

• The ongoing construction of Bangalore Metro Phase 1, set to reach Puttenahalli, is a crucial development for the area.
• Anticipated to be operational by mid-2014, the Metro is expected to provide a convenient and efficient mode of transportation, further boosting connectivity.

 Potential Metro Extension Till Anjanapura Township:

• While the alignments are yet to be confirmed, there is anticipation of the Metro being extended till Anjanapura Township. This potential extension underscores the long-term connectivity benefits for the region.
• The combined impact of these infrastructural developments has propelled Kanakapura Road into the real estate spotlight, particularly in the residential sector. The completion of the NICE Ring Road and the commencement of Metro construction work have been instrumental in driving increased residential activity in the area.

Kanakapura Road:

• Residential Growth: The location has witnessed a surge in residential development, establishing itself as an extension of well-established neighborhoods like Jayanagar, J P Nagar, and Banashankari.
• Social Infrastructure Dependency: Presently, the micro-market relies on Jayanagar and J P Nagar for its social infrastructure needs, emphasizing the interconnectedness of these areas.

Mysore Road:

• Emerging Locality: Mysore Road is also recognized as an emerging locality with significant potential for residential development.
• Budget and Mid-Range Categories: The growth in residential development on Mysore Road is notable, particularly in the budget and mid-range categories.

Future Prospects:

• Anticipation of Metro Rail Connectivity: The expectation of Metro Rail connectivity is a key factor driving residential activity on both Kanakapura Road and Mysore Road.
• Continued Growth: As these infrastructural projects come to fruition, the residential activity in these areas is poised for further growth, making them attractive options for homebuyers and investors.

The growth of Kanakapura Road as a prominent residential destination can be attributed to a confluence of factors, making it a strategically important micro market in Bangalore:

Connectivity to Major Highways:

• Kanakapura Road serves as a vital link, connecting to major highways such as Tumkur Road, Mysore Road, Old Madras Road, and Hosur Road.
• The well-connected nature of Kanakapura Road to these significant transportation routes enhances accessibility and convenience for residents, facilitating easy commuting to various parts of the city.

Infrastructure Development and KIADB Project:

• The presence of major infrastructure projects, including the Karnataka Industrial Areas Development Board (KIADB) project, has been a catalyst for growth in the region.
• The stretch between Kanakapura, Bidadi, and Harohalli is witnessing substantial development, particularly in the mid-range category with the emergence of value homes.

Retail and Educational Infrastructure:

• The micro market is not only witnessing residential growth but also experiencing a surge in retail activity, with the establishment of hypermarket formats to support the growing residential community.
• Reputed schools adding to the educational infrastructure further contribute to the appeal of Kanakapura Road as a holistic residential destination.

KIADB Project and Plotted Developments:

• The massive KIADB project in the area is driving significant development, with a focus on mid-range category homes and plotted developments.
• The availability of land has spurred plotted development, catering to varying preferences and housing needs.

Development Beyond Khoday’s Factory:

• The hotspot of development in the area is identified as being beyond Khoday’s factory, indicating a concentration of real estate activity in this particular stretch of Kanakapura Road.
• Iskcon, a significant player, has planned substantial development for this area, contributing to its growth and transformation.

Serene Future Residential Area:

• Future plans for the area include transforming it into a serene and purely residential zone, aligning with the vision of creating a peaceful and conducive living environment.

Well-Developed Main Roads:

• One distinctive feature of Kanakapura Road is the well-developed nature of its main roads. This infrastructure strength contributes to the overall accessibility and connectivity within the area.

While the main roads have achieved significant development, it is acknowledged that some arterial roads are yet to catch up. Despite this, the robust infrastructure, ongoing projects, and the vision for a residential-centric future position Kanakapura Road as a dynamic and evolving real estate hub in Bangalore. The combination of connectivity, infrastructure, and planned developments makes it an attractive destination for homebuyers and investors seeking a well-rounded living experience.