Hebbal - The Area to Invest in North Bangalore

Real estate in Northern Bangalore peaked in 2008, when the international airport was started in Bangalore. Since then, Northern Bangalore has managed to sustain its boom in the real estate segment. In terms of infrastructure growth, commercial establishments and launch of residential projects in the area, development in Northern Bangalore has been going on in full force.  The area enjoys good connectivity with other parts of Bangalore through the Outer Ring Road (ORR), Hebbal Flyover and the expressway constructed over Bellary Road and these factors have attracted the attention of buyers, investors and developers.

In the past two years, the localities in this area have seen an increase in prices. For example, Hebbal has shown an increase in property values of around 70 percent in the past couple of years. In 2012, the price of property was around Rs 3000 to Rs 3800 which jumped to Rs 5000 to Rs 6800 per square feet in 2014. Hebbal is largely known for its connectivity to other areas via flyovers. Going to places such as Bellary Road and Outer Ring Road is not an issue from Hebbal at all. The locality also acts as a meeting area for the Bangalore Metro, Vayu Vajra and the BMTC buses.

After the entry of major infrastructure projects in the area including improvement in connectivity and setting up of commercial establishments, realty sector picked up. Hebbal is located only 45 minutes from the airport and major companies such as AstraZeneca and Micro Software Services are located near this area. Manyata Tech Park and the Embassy Kirloskar are the business parks located in the area. These factors have pulled up the demand for housing in this area and it has impacted property values positively. Currently under construction are five more tech parks such as the RMZ Galleria, Karle Town Centre, Sattva Galleria, RMZ Latitude and Brigade Magnum. The office space that has been estimated to come up is around 1.72 million square feet.

The Bangalore Metro’s Phase II has been proposed to be extended to the Nagavara-Gottigere line right till BIA through Yelahanka and Hebbal. This shall push up the realty landscape of Hebbal immensely. The location has a lot of new projects in place right now. All kinds of properties viz. duplex apartments, single floor apartments and multi storey apartments are available in this residential community to cater to the different segments of buyers.  Hebbal is also more favourable to most buyers because of the placement of social infrastructure such as colleges, schools, shopping malls and banks etc.

Water is one of the most important aspects when deciding to buy property in Bangalore. Hebbal is quite favourable in these terms as well. Most areas in Hebbal and around it receive Cauvery water. Because of the placement of a number of lakes, a large number of people show interest in buying property and property in Bangalore Hebbal.

In terms of connectivity, there are BMTC buses plying on the shuttle service of Vayu Vajra along 10 selected routes to the international airport in Bangalore from the Brigade Gateway located in Rajajinagar, 6^th Phase JP Nagar, HAL Main Gate, Kadugodi, HSR Layout, Electronic City, BTM Layout and the satellite bus terminal on Mysore Road. These buses pass by Hebbal through the ORR or Mekhri Circle. Hebbal is a prominent locality on the Mass Rapid Transit Bangalore projects.

Initially when Hebbal was being developed, there was a large demand for multi storeyed apartments mainly for the purpose of security. Basic utility and security was the main cause of concern for individuals moving into the area as infrastructure was still developing. This led to the creation of only multi storeyed houses for the coming 10 years. Currently, with better infrastructure and offices close by, buyers do not hesitate to opt for builder floor flats which are a part of the high end luxury category, quite like boutique hotels.

You can get property in Bangalore and flats for sale in a wide range of prices. A 2 BHK apartment can be bought within Rs 35 lakhs to Rs 85 lakhs depending on the kind of amenities and construction aside from the location. The price of a regular 3 BHK luxury flats/apartment in the area is around Rs 6000 per square feet. On the other hand, builder floor apartments are quite affordable, in the range of Rs 4400 to Rs 4900 square feet. This has led to an increase in popularity of such apartments, as evident from their growth indices.

Even though the highest increase in property price has been seen in Hebbal, RT Nagar and Thanisandra have also shown good appreciation. It has been seen that the rise in property prices in Thanisandra has been around 28 per cent while that in RT Nagar has been around 12 percent in the past 2 years. The values of property in RT Nagar and Thanisandra were around Rs 3000 to Rs 3700 per square feet and Rs 2900 and Rs 3300 per square feet respectively. However, now the prices stand at Rs 4000 to Rs 5200 per square feet and Rs 3800 to Rs 4700 per square feet respectively.

RT Nagar, Thanisandra and Hebbal are situated at a distance of 10kms from one another. Like Hebbal, the other two localities are also close to IT parks and the international airport. The price of property in Hebbal is around 15 percent more than what it is in Thanisandra and RT Nagar.

Another area which has become quite significant is Yelahanka as it has shown an increase in property values by almost 37 percent in the past 2 years. In 2012, per square feet price of properties was around Rs 2900 to Rs 3600 which is now priced at Rs 3600 to Rs 4700 per square feet. The area is only 29kms from the airport which has shot off the property values in this area. In the past 5-6 years, the area has seen a number of launches of real estate projects which are either ready to be moved in or under construction.

Therefore, without doubt, the main areas of Northern Bangalore have provided good returns on property. The growth of the BPO and IT industry along with the infrastructure plans proposed shall lead to an increase in values of property in this area.