Hosur Road in South Bangalore covers locations like Begur, Kudlu Gate, Singasandra, and Electronic City. Significant factors contributing to its growth are:
Locations along Hosur Road close to Electronic City and Begur Road essentially have affordable and mid-segment properties. Prices of properties in Electronic City range between Rs. 3,500-5,600 per square foot. Prices on this stretch are relatively cheap than other major IT hubs, including Whitefield and ORR-Marathahalli.
Commercial property prices are between Rs. 4,500-8,000 based on the type of property and the conveniences available in the building. Rental yield varies from 3.5 to 4.2%, which makes it one of the best rental yield locations in Bengaluru.
A good convergence of factors, such as ample new supply in Hosur Road due to large parcels of land, cheap property prices coupled with high buyer demand, and myriad property options across segments, have upped the standard of this micro market. The area has emerged as a consumers' paradise based on the cost range, availability of properties across elements, types and size arrangements, and attractive rental trends.
As one of the major IT centers in Bengaluru, Hosur Road has seen significant real estate expansion over the last few years. It houses several IT majors, such as Infosys, HCL, Wipro, and Siemens, to name a few.
The area has good connectivity through the Expressway to other significant city areas and is easily accessible to the NICE corridor. Moreover, the site has become self-sufficient, opening several retail and entertainment outlets.
Significant players like Prestige Group is already active in this micro market. Over the years, Hosur Road has become a thriving and self-sustaining market with ample housing options across segments and various retail and recreation options.
The widening of Hosur Road and the building of a high corridor to Electronic City have further improved residential property traction here. Hosur Road's locations have seen massive real estate movement owing to increased connectivity through Hosur Road and the Expressway. The residential movement has grown primarily, while Electronic City has seen both commercial and residential growth. The 10-km Hosur Road Expressway and the widening of the Road have positively influenced the real estate market of areas along this Road. The Expressway has significantly decreased the commute time to Electronic City, and it has also raised the realty opportunities of this central IT hub. The proposed yellow line of the Namma Metro project will further extend its connectivity to main city areas and thus drive real estate activity even further on the back of ample land availability. The proposed Hosur airport will also promote real estate activity in the region.
The IT/ITeS sector has been a prime influencer for the real estate sector in Bengaluru. Electronic City is a micro market with a considerable IT industry presence. Comprising three phases, Electronic City is a central IT hub that hosts more than 200 IT companies, including majors like Infosys, Wipro, HCL, TCS, Tech Mahindra, and Biocon. Earlier, the area comprised only commercial developments, with most of the population working in Electronic City residing in areas such as Koramangala, HSR Layout, and BTM Layout. Ample land availability and affordable property prices attract large corporate houses to the site.
Considering the increasing IT population within the micro market, various retail options and cafes have also opened up. While the area still awaits the opening of Neo Mall – in its precincts, different high-street retail options have developed over the last year in Electronic City. Besides significant shopping platforms, including Brand Factory and FabIndia, multiple eateries have unfurled their doors in this market. These include various fine dining restaurants such as Lemon Tree, Radha Regent, BBQ Nation, Golden Tulip, Fire Station, and other small eateries. The micro market mostly has regional retail shops, while the surrounding areas of Hosur Road have many community retail stores that cater to an enormous population segment.
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