Investing far west in Kengeri
Kengeri a historic suburb to the far western corner of Bangalore. At the start of the Mysore Road, is the Kengeri satellite town, a part of the Mysore Road micro market, which was developed by the Bangalore Development Authority more than 30 years ago. But the development, especially real estate, has been slow to happen until recent times. After the IT boom when localities around Bangalore started developing and real estate market picked pace, places like Kengeri also took advantage of the boom. Its location being in the beginning of the Mysore road is adding more advantage to this locality. One of the major developments which boost real estate in Kengeri is the western extension of Namma Metro from the Mysore Road terminal to Kengeri. The metro has stations at Nayandahalli, Rajarajeshwari Arch, Bangalore University Gate and R V College of Engineering. Kengeri’s proximity to the ORR also helps the residential demand to go up. One of the better localities on the Mysore Road micro market is Kengeri and Rajarajeshwari Nagar mainly because of its easy access to the city for the former and the better social infrastructure for the latter.
The Kengeri micro market, been getting good amount of recognitiont only after a few educational institutions were set up and some industrial development happened. Though experts feel it may take atleast another couple of years until the IT based development to happen in Kengeri, this area has already started to experience enough of the residential up market. As far as residential real estate was concerned the better connectivity from the NICE (Nandi Infrastructure Corridor Enterprises) Road and the Outer Ring Road (ORR) has been the key. Kengeri Satellite Town was developed by Bangalore Development Authority. Cyber cafes, telephone booths, multi-cuisine restaurants and other utility services have come up in recent times. Bangalore City Junction Railway Station is to the north-east of Kengeri. Travelling south-west, Bidadi Railway Station is the nearest main station. Kengeri Bus Station is the nearest bus terminal. BMTC now has constructed a modern traffic and transit management centre (TTMC) at the entrance of the town. Organized retail is also likely to increase along the Mysore Road in the coming years, the area has a good potential for malls. Along with this, there will also be an increase in the demand for residential space in areas such as Kengeri.
Kengeri is currently getting noticed for its abundance of space and hence many developers are planning on building Villas in Bangalore are considering this locality. The space and affordability factor with these constructions will offer the home seekers good quality and good sized luxury homes at a very affordable rate. According to recent reports, the Kengeri micro market has about 8000 units under construction which might be launched in two years. The property prices for have been going up during the first three months of the year. The going rate for apartments in Kengeri falls between INR 3700 and INR 3900 per sq ft which is comparatively more affordable than other flats in Bangalore. This makes Kengeri an affordable destination for investment.
