Greater Bengaluru Suburban Project to Boost Real Estate in Outskirts
Greater Bengaluru Suburban Project to Boost Real Estate in Outskirts
Karnataka’s Greater Bengaluru project aims to develop satellite towns, improving connectivity and alleviating the city’s congestion. A boon for real estate growth.
On Thursday, the Karnataka state government sanctioned the Greater Bengaluru Integrated Suburban Project, aiming to develop Devanahalli, Nelamangala, Hoskote, Doddaballapur, Magadi, and Bidadi into satellite townships surrounding Bengaluru. This initiative seeks to enhance road and rail connectivity, thereby improving accessibility and reducing congestion in the city.
Real estate analysts anticipate that this project will stimulate the growth of satellite towns on Bengaluru's periphery, alleviating the city's infrastructure burden and creating new opportunities in areas where land remains relatively affordable. This development is expected to pave the way for future real estate expansion.
The project encompasses key areas across Bengaluru's northern, eastern, and southwestern regions:
- North Bengaluru: Devanahalli, Nelamangala, and Doddaballapur
- East Bengaluru: Hoskote
- Southwest Bengaluru: Magadi and Bidadi
Property prices in Devanahalli and Doddaballapur have already shown an upward trend. The Hoskote-Devanahalli corridor is emerging as a significant real estate zone, benefiting from expressway connectivity between Mumbai and Chennai and the presence of Karnataka Industrial Area Development Board (KIADB) industrial parks. Rental rates in Hoskote have also been on the rise.
The Greater Bengaluru Integrated Suburban Project is expected to drive demand for plotted developments. However, improved infrastructure and commercial activity are essential for apartment projects to gain momentum. Real estate experts predict a 15-20 per cent increase in property values in these outskirts over the coming years, driven by enhanced connectivity and industrial growth.
