Access to the airport through the upgraded Bellary Road, proximity to the ORR and established residential areas are boosting growth here.

1. Access to the
airport through
the upgraded
Bellary Road,
proximity to the
ORR and
established
residential areas
are boosting
growth here
Sai.Prasanna1
@timesgroup.com
T
he Rabindranath
Tagore Nagar (R T Na-
gar) gained prominence
due to its proximity to the es-
tablished residential locali-
ties of north Bengaluru such
as Sadashivanagar, Dollar's
Colony and Rajamahal Vilas.
This neighbourhood also con-
nects the Central Business
District (CBD) to the Kempe-
gowda International Airport
via the Hebbal junction, and
has witnessed heightened
growth of physical infra-
structure.
Ram Chandnani, Deputy
Managing Director, CBRE
South Asia, says, "R T Nagar
is another prominent locali-
ty of north Bengaluru. The lo-
cality has gained importance
due to its strategic location
between the city center and
the airport. This location ad-
vantage has been further
boosted with the completion
of the elevated expressway
over Bellary Road."
Factors triggering growth
According to Shrinivas Rao,
CEO - Asia Pacific, Vestian
Global Workplace Solutions,
the key factors that have bol-
stered the growth of R T Na-
gar include proximity to the
CBD and established eco-
nomic hubs such as a promi-
nent business park in north
Bengaluru; proximity to up-
scale residential localities
such as Sadashivanagar and
Dollar's Colony; good social
infrastructure with number
of reputed schools, colleges
and hospitals; and good con-
nectivity via Bellary Road and
the Outer Ring Road (ORR).
6THE TIMES OF INDIA | BENGALURU | THURSDAY | NOVEMBER 27, 2014
An upscale
neighbourhood
with a tag of
exclusivity, and
easy access to the
airport and CBD,
this locality has
always been in
high demand
Sai.Prasanna1
@timesgroup.com
S
adashivanagar is one of
the prime upscale resi-
dential neighbourhoods
in Bengaluru. It lies in prox-
imity to the city center and en-
joys easy accessibility to the
northern suburbs. With
Malleswaram to one side,
Mekhri Circle to another and
Kumara Park to the third, it is
ideally located from three im-
portant connecting points - to
the Central Business District
(CBD), west and north Ben-
galuru.
The presence of Sankey
Tank further adds to the draw
of this area.
Coveted address
Sadashivanagar has re-
mained a preferred residential
destination of high net worth
individuals (HNIs). Satish B
N, Executive Director - South,
Knight Frank India, explains,
"Many homes in the Raja Ma-
hal Vilas Extension (built in
the wing formerly known as
Upper Palace Orchards) are lo-
cated right opposite the palace
grounds. Thus, the exclusive-
ness of Sadashivanagar has
played a major role in attract-
ing potential homebuyers and
investors alike, belonging to
the high income group (HIG)
segment. Owning a property
in Sadashivanagar is consid-
ered to be a matter of pride."
Civic infrastructure is good
in Sadashivanagar. Road ac-
cess is excellent considering
the proximity to the CBD, sub-
urban/peripheral locations
and the airport.
Options and price range
Sadashivanagar has a rela-
tively limited number of
apartment projects as com-
pared to the other areas of
Bengaluru. The residential
market here is more skewed
towards independent houses.
Satish elaborates, "The guid-
ance value in about 90 percent
of Sadashivanagar is Rs 20,000
per sqft. The lowest guidance
value in the locality is Rs 15,000
per sqft. The market values are
from Rs 25,000-35,000 per sqft."
Om Ahuja, CEO - Residen-
tial Services, JLL India, says,
"Independent houses still com-
mand the highest demand here
and available units sell for Rs
15 crores and upwards."
Shabeer Sait, Executive Head
of Operations, Irshad's Prop-
erty Matters, adds, "The start-
ing price for the apartment
projects in this area is from Rs
5 crores onwards."
According to research by
Knight Frank India, being a
premium residential location
with prices already in the high-
er bracket, the price appreci-
ation in Sadashivanagar is en-
visaged to be average, at
around 6-10 percent per an-
num. This can be largely at-
tributed to limited new proj-
ects in the pipeline, given the
scarcity of land availability.
Sai.Prasanna1
@timesgroup.com
Y
eshwanthpur, although
primarily industrial in
nature, is an evolving
market. It has benefitted main-
ly due to its location advan-
tage. It is close to Rajajinagar,
an area which has taken off
due to large format develop-
ments present and under con-
struction. Connectivity
through Tumkur Road has
been improved thanks to the
upgraded NH-4 with the ele-
vated highway. With the Metro
line operational from
Malleswaram up to Peenya,
this location is set to witness
more growth.
Ram Chandnani, Deputy
Managing Director, CBRE
South Asia, elaborates, "Yesh-
wanthpur is characterised by
high profile and major indus-
trial establishments. Until a
few years ago, real estate de-
velopment here was primari-
ly unorganised in nature, dot-
ted with individual plot de-
velopments and negligible re-
tail real estate development.
The introduction of organised
players in the region, howev-
er, led to the re-development of
old industrial land parcels."
Metro advantage
The completion of 10 sta-
tions as part of Reach III and
IIIA of the Green Line is ex-
pected to trigger development
in locations around the sta-
tions. Stations completed in-
clude Sampige Road, Sriram-
pura, Kuvempu Road, Rajaji-
nagar, Mahalakshmi Layout,
Sandal Soap Factory, Yesh-
wanthpur, Yeshwanthpur In-
dustry, Peenya and Peenya In-
dustry.
Shabeer Sait, Executive
Head of Operations, Irshad's
Property Matters, adds, "Once
Phase I is complete and these
stations are connected to the
central line at Majestic, de-
velopment will take off at a
more rapid pace. The Ben-
galuru Metro Rail Corporation
(BMRCL) is also in talks to in-
tegrate Metro stations with
large format retail develop-
ments. This will result in in-
creasing footfalls while taking
care of the maintenance as-
pect of the Metro stations too."
Integrated developments
spur growth
The first self-service whole-
sale store's outlet in India in
2003 was among the first few
organised developments that
led to a change in the real es-
tate profile of Yeshwanthpur.
Ram elaborates, "In the mid-
2000s, a few other large and old
industrial units were re-clas-
sified from industrial to resi-
dential/commercial land use,
and thereafter developed for
integrated projects. Such proj-
ects gradually led to the de-
velopment of organised resi-
dential and commercial activ-
ity in the region. Further, with
the organic growth of Ben-
galuru in recent years, some
industrial real estate activity
has been gradually shifting
outwards - towards Nelaman-
gala and Devanahalli."
Emerging residential hub
Yeshwanthpur has been
gradually witnessing a shift in
the profile of real estate de-
velopment, and has been
emerging as a prominent res-
idential hub in the city.
Shabeer Sait says, "Yesh-
wanthpur is still dominated by
industries. So, the target group
is mainly the workforce em-
ployed here. The landing cost
of many apartments will not
go beyond the affordability
range which is Rs 50 lakhs for
a two-bedroom apartment with
an average size of 1,100 sqft
and Rs 75 lakhs for a three-bed-
room apartment keeping the
average size to 1,500 sqft."
SADASHIVANAGAR
PREMIUM LOCALITY
WELL-CONNECTED TO CBD
R T NAGAR
PROXIMITY TO
GROWTH HUBS
DRAWS
HOMEBUYERS
YESHWANTHPUR
DEVELOPMENT
PICKS UP WITH
CONNECTIVITY
The improved Tumkur Road, proximity
to established residential locations and
Metro connectivity are turning
Yeshwanthpur into a prominent
residential location
Capital values range
from Rs 6,000-8,000 per sqft
for apartments, and be-
tween Rs 8,000-9,000 per
sqft for residential plots.
Shrinivas Rao adds,
"While under-construction
projects range between Rs
4,500-7,200 per sqft, many
of the projects in this es-
tablished neighbourhood
fall under Grade-B devel-
opments. High-end devel-
opments by Grade-A de-
velopers are located clos-
er to Mekhri Circle (Bel-
lary Road and towards CV
Raman Road section) and
Hebbal (along ORR and
Bellary Road)."
Commercial and retail
Due to limited land avail-
ability within R T Nagar,
large-format commercial
and retail developments
are seen mostly along Bel-
lary Road or the ORR. Elab-
orating on the retail land-
scape here Shrinivas Rao
says, "R T Nagar, typically,
is a catchment area for
Ganga Nagar and Hebbal.
It comprises a mix of re-
gional apparel and acces-
sories brands clubbed with
international F&B outlets
and electronics brands.
The CBI Road forms the
core of the retail hub in
this region."
LIVING here gives you a royal feeling. It is a
place like no other. You get addicted to
living here after a while. We have a very
active resident welfare association. We have
planted many trees in the locality. We have a
beautiful lake and lung spaces with the parks
here. These parks augment the health of the residents
with fresh air. In fact, this area is cooler than the city
center with the greenery. In the mornings, you get the
ambience of a hill station.
Dr B Ramana Rao, Cardiologist and physician
IT has been over two years since I lived in
this locality and I am very happy with the
progress in infrastructure around. The
Metro Rail station is just a street away and
the Yeshwanthpur Railway Station is close
by too. One of the perks of living in this
neighbourhood is it is close to the shopping hub
of a mall which also houses top-end restaurants.
While I am health-conscious and exercise in the gym
within my residential enclave, I love golf and the
Bangalore Golf Club is just around the corner and so
convenient for a weekend tee-off. Yeshwanthpur is no
longer the locality it was a decade ago. The
transformation is heartening.
Zeeshan Basu, Marketing professional
WE have been living in R T Nagar for
well over 30 years now and have
seen it develop rapidly. Ours is a
family business and we have two
shops on R T Nagar Main Road which
has become a major shopping hub now.
Our locality which once had narrow dusty lanes
boasts of wide roads. Proximity to the
neighbourhoods of Dollar's Colony and
Sadashivanagar have increased demand in R T
Nagar for residential options as is evident in the two
and three bedroom apartment complexes coming
up in every nook and cranny.
Ratna Shahani, Tutor
Joe Louis D’anto
Joe Louis D'anto
NOTE: The distances mentioned are approximate and taken from the nearest point
to the destination. The property values mentioned are indicative and vary based on
exact location and property attributes.
LOCALITY SNAPSHOT
LOCALITY SNAPSHOT
NOTE: The distances mentioned are approximate and taken from the nearest point
to the destination. The property values mentioned are indicative and vary based on
exact location and property attributes.
NOTE: The distances mentioned are approximate and taken from the nearest point
to the destination. The property values mentioned are indicative and vary based on
exact location and property attributes.
LOCALITY SNAPSHOT