Is property in Bangalore on the way for the boost through metro links?

Bangalore is known to be the IT hub and now with the coming up of the metro links; the city will soon witness a push to the residential and commercial developments. With the completion of the underground section that will link Baiyappanahalli and Magadi Road to the other locations in the west, east and CBD seamlessly, there will be a visible thrust to the retail and Residential Property in Bangalore to grow. All this, in turn, will increase the prices of Bangalore properties, especially along this corridor.

This purple line of the Metro rail is expected to functional soon. The route will run through the center of Bangalore and link Mysore road in the west through the nodal point Baiyappanahalli. Apart from these upcoming routes, the already existing routes are between MG Road and Baiyappanahalli ad Mysore Road and Magadi Road.

The metro rail is the must-awaited development in the city which will provide seamless connectivity within the city in particular between the neighborhood of Kengeri and the Mysore Road that will further connect to the eastern location of Baiyappanahalli, Whitefield and the Old Madras Road. This will be the major benefit of the residents in these places of connectivity at affordable prices, convenient of avoiding traffic congestion and saves time. This is one of the primary reason for the increase in the demand for residential and Commercial Property in Bangalore, and this is making the developers speed up and complete the construction of the projects.

The completion of Magadi Road to MG Road is said to be a major route as it will connect the commercial heart of the city with the surrounding residential areas of Bangalore. This will enable a quick and easy travel while giving a rapid thrust to the retail as well. The Magadi Road and MG Road line connect key areas in Central Business District which join KG Road and MG Road further to Magadi Road and thus this location witness a high demand for the retail and office spaces along with the Residential Property in Bangalore. 

There has been an increasing demand for residential, retail and Commercial property in Bangalore due to the metro links and developments that are taking place in the city. All these locations have strong property values and are surrounded majorly for the high-end and upper-middle residential properties in Bangalore. Thus, the regions are said to be at the hotspots at the moment, and the prices might increase more with the completion of the projects in the areas.

Office space leasing records new heights in Bangalore - Buy Property

According to the data, Bangalore has recorded the highest office space leasing during 2015 with the help of internet setups that took place in the city. Bangalore, the startup capital of India took around 12.3 million square feet of net leasing space exceeding the record of 11.3 million square feet that was seen in 2007. However, the total 12.3 million square feet of area was divided into different internet startups, and majorly was absorbed by consumer internet startups with 4.5 million square feet or 36%.

Reportedly, Bangalore has seen least vacancy of 4% in India among the top cities. Also, the national occupancy levels dropped to 17% in 2015 which directly signaled recovery of the economic activity.

Property in Bangalore has been the top destination for serious investors and it is said to be a phenomenal year for the office leasing activity in the city. Two of the India’s leading office space aggregators, RMZ Corp and Embassy Office parks have attracted Qatar Investment Authority and Blackstone Group respectively.

There are startups including Flipkart, Amazon, and Old who booked 2.5 million, 1.2 million and 3.5 lakh square feet areas in the Property in Bangalore during 2015. Also, there has been companies like Mercedes, KPMG, PwC and ANZ have also invested in buying office spaces in the city. Whitefield and Outer Ring Road has been the areas with highest sale of office spaces.Developers also believe that there was good demand of office spaces in Bangalore and across the nation there was seen some positivity in the long-term trajectory.

Also, Accenture, the largest office space tenant in Bangalore is looking for more space. IBM and Cognizant are also one of the most important companies as they have occupied big rented office spaces in the city. Although the experts believe that the main challenge will definitely be the ability to provide office spaces of quality and not the demand as there is no doubt that there will be a lot of demand of Office Spaces in Bangalore. Thus, definitely the Commercial Property in Bangalore is all set to get huge demand for office spaces and these demands will hopefully be fulfilled in the coming years.