The taking off Metro line work in the western part of Bangalore is seeing noticeable changes in the setup of the region in terms of incorporated mixed-use developments, residential projects, and commercial projects that are rising along the Metro corridor. The reason behind this is the good connectivity that will link neighborhood of Malleshwaram to the peripheries.
Commercial View
Presently, development in commercial real estate is hugely focused in Malleswaram, Yeshwanthpur, and Rajajinagar. In the near future developers will launch office projects on the Sampige Road-Peenya stretch if higher floor area ratio (FAR) is authorized along the metro corridor and it is likely to boost the development of residential properties as well as improvement and development of commercial properties.
One of the realty experts say that the development of malls and supermarkets along the metro line will provide the commuters who commute in metro to pick up what they want on their way. The investors in residential properties along the metro corridor are likely to see good appreciation in property value.
One of the recent reports reveal that many key realty players have already ventured into this region in developing properties and report also said that one of the developers is likely to propose an integrated development over an area of 1.70 million sq. ft. in Yeshwantpur and another with a luxury villa project in Nelamangala.
The report also stated that the average annual price appreciation in this region is 15-18 per cent but some projects have already seen a price appreciation of 20-25 per cent.
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