Bengaluru has immersed itself as a prime market for Grade A office space and reasonable flagship housing options in India’s real estate market. The phenomenal growth of Bengaluru put into place many micro-markets with Sarjapur in the south eastern corner of the city as one of the major nodes. With good connectivity to important IT cluster regions such as Whitefield, Electronic City and Outer Ring Road, Sarjapur is witnessing rapid growth of commercial and residential projects.
Transformation into an IT Hub
Sarjapur along with its vicinity was not very high on people’s preference for real estate investment until about a few years back. During that time, a 15-kilometer segment of Outer Ring Road was connected with the aim of making commuting easier within the city. Everything changed when Wipro and Infosys arrived at the scene and constructed their campuses here in the late 90s IT boom in Bangalore. IT and other services grew in Bangalore and contributed to the availability of large land plots. As larger spaces in IT hubs like Whitefield or ORR were not available, commercial property developers began turning to Sarjapur Road. This, in turn, has opened doors for housing development for the lower middle class.
Fantastic Connectivity
Sarjapur’s link to IT hubs and its position along Outer Ring Road (ORR) has clinched its place as a prime real estate location. The stretch is well connected to Koramangala, Whitefield, Marathahalli, Electronic City, Silk Board, and Outer Ring Road. Connectivity to Sarjapur has been boosted further by the free of signals corridor project, certainly reducing the time taken to travel. Most of the high patronized intersections today have either flyovers or underpasses, and the area is also linked to NH-207 (to Hoskote/Kolar) and NH-4 (to Hosur) making it easier to move to and from offices and schools.
Homebuyers Get the Upper Hand: Sarjapur Being More Economically Affordable
Experts claim that there are close to two lakh employees employed in this stretch on the Outer Ring Road making Sarjapur Road one of the most active IT belts. There is a steady supply for the home buying market from the workers of the IT sector located in these corridors. Given the saturation of places like Whitefield, Electronic city and Outer Ring Road, Sarjapur road is the most preferred in terms of supply by the buyers now.
Mainly the residential market at Sarjapur is dominated by end-users. There are over forty apartment projects of various developers with prices between Rs 2500 per sq ft and Rs 7000 per sq ft in this market. Experts estimate that the average cost of an apartment on Sarjapur Road is around Rs 4500 per sq. ft. Furthermore, the land employed for residential is said to be between Rs 22,100 – 27,200 per sq yard. Most of the end users are seeking to buy a house sold under Rs 50 lakh.
Aurora of Social Infrastructures
With the increasing presence of social and physical infrastructure Sarjapur is developing into a favorable Real estate market. The area is surrounded with natural vegetation, as well as the famous Billapura Lake. Sarjapur is surrounded with several educational institutions including Bangalore Technological Institute, ITM Institute of Hotel Management and Bangalore College of Engineering and Technology. It has also developed an infrastructure of hospitals, schools, hotels as well as malls which is suitable for families and growing IT professionals.
Obstacles for Growth
Sarjapur is a growing real estate sector, however, one of the biggest challenges is how a lack of traffic management affects the area. People residing in this area have to deal with traffic congestions and poorly developed internal roads at major junctions during busy hours. As residential, commercial and the population continues to grow, it is clear that there needs to be an effective plan for road design and traffic flow management that will accommodate this growth.
Sarjapur real estate outlook: A suburban beginner’s paradise
In the future, Sarjapur is likely to see an increase in the number of people out to acquire residential properties owing to the presence of new office spaces that are currently under construction. And, the residential properties here are expected to yield good returns over the years as the micro-market shows high potential for growth.
Some developers are planning to put up a wide array of projects along the hosur road including the peripheral ring road project that will help in connecting tumkur road and hosur road across nodal points sabarur road, bellari road, old madras road, and dommasandra. In addition, the central silk board-hebbal metro line is expected to span across major portions of the outer ring road which includes housing areas around sarjapur road, marathahalli and mahadevapura. The expansion plans for sarjapur road from the outer ring road to dommasandra are also in the pipeline which will help ease up most traffic congestion’s.
For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.