Bangalore
Hosur road, a locality in South Bangalore has emerged as one of the preferred affordable residential areas in Bangalore. Economic drivers of growth here are improved connectivity through the elevated Highway, proximity to malls, education and medical facilities and infrastructure development. In addition, the road is part of NH-7, and IT hub Electronic City runs along the same road.
One of the major reasons that this locality is witnessing an increase in demand for houses is the emergence of social infrastructure around South Bangalore like the NICE Road, and the upcoming Peripheral Ring road project. The presence of companies like Wipro, Quinnox Consultancy Services Ltd, Cresys Technologies, among others attracts professionals to this part of the city. Moreover, since eateries such as McDonald's, Little Italy, and Manchester United Restaurant are closeby, it is also another factor for people to live here.
S S Asokan, Executive Director, Shriram Properties believes that Hosur road market will take off within 5 to 7 years from today. "Industries, technology companies are coming up there. Electronic City will see a lot of better quality infrastructure," he added.
Although this area boasts of positive factors for growth, yet it also offers many affordable options. The capital value of apartments in this area are between Rs 2,500 to 3,200 per sq ft. Ramani Sastri, CMD, Sterling Developers pointed out that Janadhar on Hosur road has houses available in the range of Rs 5 to 7 lakh and the area would be between 415 and 700 sq ft.
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