Kanakapura Road- An attractive investment option

Being one of the fastest growing cities in the country, Bangalore’s real estate scene saw a sudden shift after the inclusion of the IT sector here. While the major driver is solely responsible for flourishing real estate here, micro-markets are soon becoming the most sough-after residential localities to invest in thanks to their connectivity and developed infrastructure. And one such area that is blinking on the real estate radar is Kanakapura Road. The 27 km stretch that begins at Majestic and goes up to Kanakapura town was once covered by trees and streams. With a sudden surge of residential property here, Kanakapura Road today is bustling with a number of construction activities. Emerging to be a prime locality, builders are now targeting this locality to build many residential properties.

Being an attractive investment area, properties in Kanakapura Road are expected to rise by 10 to 15 percent in the near future. One of the major factors that is fueling this trend is its connectivity. Major infrastructural developments like the NICE road (Bangalore-Mysore Infrastructure Corridor) improves connectivity to Electronic City, Bannerghatta Road and Mysore Road. The proposed Peripheral Ring Road (PRR) connecting major highways (Hosur Road, Mysore Road, Old Madras Road and Tumkur Road) will also give a severe push to the realty sector here. The Namma Metro here too is helping Kanakapura Road become a residential hub. With a number of residential properties cropping up here, the locality has become an extension of other localities like J.P. Nagar, Banashankari and Jayanagar. Kanakapura’s close proximity to a spiritual center (Art of Living Ashram) also helps in providing a home to the floating population.

Looked up to be a residential hub, Kanakapura Road property prices are soaring high. Apartments and townships are now mushrooming catering to the high demand. Abundant water supply from the Cauvery River is also prompting many developers to build residential properties here. With Kanakapura Road’s close proximity to Electronic City, the location is favored by IT professionals. The construction of the 4D theme park (Krishna Lila Park) developed by the ISKON at Vaikunta Hill is also driving many developers to establish themselves here. Second-time home buyers are now considering buying properties here as the locality will provide fruitful returns in the near future. Per square feet prices for an apartment in Kanakapura Road cost Rs 3,000 to Rs 7,500. The locality is also a home to a number of independent homes and villas. Buying a villa here would cost anywhere between Rs 3,700 to Rs 7,800 per sq. Ft.

Although the locality has not seen a major boost when it comes to commercial properties. The government has sanctioned an area before Harohalli to develop an SEZ (Special Economic Zone) for textile and apparel. Spread over 400 acres of land, this SEZ would be a home to 50 factories where over 50,000 employees would be working. An investment of Rs 1,250 crore is expected to be pooled in.

While the east and north sections of Bangalore have been saturated, south Bangalore is considered to be the most happening place in terms of real estate. So for all those second-time home buyers or investors who want to reap fruitful benefits, investing in Kanakapura Road is a safe bet.