Bangalore Real Estate Trends

The commencement of the service has been delayed, but demand for property is up, says Deepti Ganapathy

The much-hyped Metro Rail project might have been delayed, causing many eager commuters to give out an exasperated sigh, but the demand for property in the vicinity continues to be buoyant.

With the completion date for the Metro Rail service on Reach One going to be further extended, if you are looking at investing in commercial space along this route, the time is still right to invest in one.

Dr Sanjiv Aundhe, COO of a realty firm, says, "The Metro will be a vital link for a hassle-free commute and will provide excellent connectivity between the Byappanahalli Terminus and the Central Business District. It will improve accessibility to work places, colleges and schools, while reducing travel time by at least 50 percent between the two points. Better connectivity and improved infrastructure will increase the prices of property in and around C V Raman Nagar, Kasturi Nagar and Old Madras Road.

This will additionally have a spill-over effect on localities beyond these locations, thereby increase prices of property in the east of the city," he says.

Good time to buy

"Though there are limited options available especially for renting out commercial space in this route, the affordability factor is still there," says Syed Mohamed Beary, Chairman, IGBC (Bangalore Chapter). "With prices going up in this region it remains to be seen how much of commercial space will still be available," he cautions.

Realty experts say property prices in this part of the city will definitely see an upward swing. "The better accessibility to all localities on route of Reach One will increase movement of customers to these localities, thereby giving good returns to the investors. To give an example from another region - Gurgaon and Dwarka areas in NCR (Delhi) have seen skyrocketing price rises in the range of 60 to 80 percent due to the Metro Rail project," explains Sanjiv.

Commercial spaces

The Reach One of the Metro Rail has been envisaged not only to resurrect the Central Business District (CBD) but also to create newer commercial areas in its route. "The FAR available near the Metro Rail stations will be as high as four.

This will ensure that in the same amount of space, greater vertical development will be possible. Also, retail footfalls will increase because of better connectivity through the Metro Rail. This will promote commercial development and also ensure higher rental returns," says Sanjiv.

_{Source: TimesProperty Dt: 20-5-2011}