The IT belt, warehousing sector and upgraded connectivity are fuelling demand for housing around Hoskote.
The proposed Peripheral Ring Road (PRR) and industrial growth in the region towards Hoskote have resulted in many housing projects taking shape here.
The government's initiative to develop the stretch from Whitefield towards Hoskote as a hightech zone has also created demand for residential options here.
Plans to upgrade the existing NH 207 connecting Dabaspet to Hoskote, and eventually to the upcoming Bangalore-Chennai expressway, has also resulted in many residential layouts coming up on this stretch.
FACTORS DRIVING DEMAND: Connectivity, presence of industries and promise of better connectivity in the months ahead, are the factors driving demand here.
"Availability of land and improving social infrastructure along this stretch is a factor that puts this area into focus. The land price is less here compared to other similar locations of Bangalore," says Shrinivas Rao, CEO, Asia Pacific, Vestian Global Workplace Solutions.
"Proximity to economic hubs of Whitefield Road, Hoskote, K R Puram, and Old Madras Road is another factor. Whitefield and Hoskote economic hubs are growing at a brisk pace. Many prominent IT SEZs are in the process of construction here," he adds.
CONNECTIVITY: The Hoskote area has connectivity from all sides. According to Syed Mohamed Beary, Chairman, Indian Green Building Council (Bangalore Chapter), "The Old Madras Road, Ashram Road joining the Old Madras road, the road leading to Devanahalli and to the international airport as well as the 300 km length of the proposed PRR, are the four major roads connecting this area."
The planned PRR is expected to bring in tremendous development. "The alignment and notification for the Phase I of the PRR are already complete. The second flyover on the Old Madras Road has a very large pass-over for the PRR. All this indicates a positive development in this regard," explains Syed Beary.
HOSKOTE INDUSTRIAL AREA: Located six km from Hoskote town on the Chintamani Road, the Karnataka Industrial Areas Development Board's (KIADB) industrial area was set up in 1980 on 402 acres of land. There are around 190 industrial units here.
UPGRADATION OF NH 207: A significant factor fuelling demand for land here is the planned upgradation of the NH 207 to a four-lane road. According to sources, the Detailed Project Report (DPR) is in the process of being drafted. The road is presently a two-lane one and is witnessing a lot of development happening on either side.
Yet another indicator for development will be the Bangalore-Chennai 270 km length expressway which is being constructed from Hosur. The NH 207 will eventually connect to this new expressway thus giving a shot in the arm to development here.
RESIDENTIAL CATCHMENT: "The residential market here is relatively less saturated compared to Whitefield," says Shrinivas Rao. "Currently, independent houses as well as housing in the affordable segment are available along this area. Also, prominent builders have proposed Grade A developments along this area. Developers are also offering residential plots in the region. The Hoskote-Chintamani Road stretch has sizeable plotted developments. Also, colonies along Mahadevapura, Ramamurthy Nagar and K R Puram are residential catchments for Hoskote," he adds.
Proximity to Hoskote Industrial Area, and the warehousing and logistics industry coming up here, has added to the residential value of this zone which is also witnessing development of the retail market with malls and FMCG outlets along with good social infrastructure with international schools and restaurants.
Residential catchments in the vicinity are Old Madras Road and Kadugudi where villas and midrange apartments are coming up.
Source: TimesProperty Dt:25-2-2011