Why Kanakapura Road?

Bangalore has developed radically and within that you have sectors that have prospered for one or the other reason. One of these sectors which is up and coming right now is Kanakapura Road.

Moreover, it points out that Bangalore's realty market is anticipated to grow at the rate of 30 per cent annually in the next ten years, adding to that, foreign investment worth $30 billion. "In the recent past we have realized that NRI, who have made Bangalore their home, prefer to settle in south Bangalore due to the cosmopolitan crowd in this part of the city. Also, with signs of recession slowly but surely waning away, companies are on a hiring spree, more and more people are eyeing to settle down here." This stretch includes prominent locations like Kanakapura Road and Sarjapur Road. Electronic City and locations like Mysore Road have a presence of strong office development, predominantly IT space. For the sake of convenience of understanding, it can be split into three main parts. The first, beginning in the heart of South Bangalore at Banashankari; but as far as potential for development goes, the area has been squeezed dry as of now.

What is considered the main section of Kanakapura Road today is from the Outer Ring Road at Banashankari going up to the Khoday's factory. The next section of the stretch starts right here and moves on to Harohalli and the Art of Living campus.

And finally, the third sector is beyond this, largely made of agricultural land which several builders have now acquired for large scale properties. Caught in the development of this area have been some periphery regions like that of Konankunte, parts of JP Nagar, Uttarahalli and a few other areas.
With commercial and residential rentals not too much in demand now, the onus is on purchase. Apartments are in the Rs 3,000 to Rs 3,500 per sq ft bracket. If you look in the first sector of Kanakapura, homes more than 15 years old that come onto the market can go for around Rs 8,000 per sq ft.

Newer apartments are around Rs 5,000 to Rs 6,000 per sq ft and those on resale Rs 5,000 per sq ft. For those looking a little ahead in the second stretch, you will find a lot of budget housing and the apartments here will be in the price range of Rs 3000 per sq ft. The enhanced focus on connectivity and timely completion of the on-going infrastructure projects would provide further impetus for this micro market to evolve into a residential hub.

The affordable land prices and availability of Cauvery water are the two major factors which have prompted major residential developers like Sobha, Nitesh, Brigade, Concorde, etc to establish their projects in this micro market. It is a preferred destination by those employed in Electronics City and Bannerghatta Road.

"Kanakapura Road is set to become the hot destination from 2012 onwards as development is still now concentrated in the Yelahanka, Whitefield, Sarjapura regions. Kanakapura Road and beyond is virgin area in a sense and will see far more residential development than office space development, followed by retail and commercial development," Owing to the arrival of a massive tourist hub, property prices in and around Kanakapura Road area are bound to shoot up in the next five years. The prices for a square foot of site hover around Rs 3,150 to Rs 3,850, according to magicbricks.com, a property site. While a two-bedroom flat may cost Rs 30-35 lakh, three-bedroom ones will begin around Rs 50-55 lakh.

An acre of land in the area is running at Rs 9-10 crore. Expect a 10% to 15% rise in these prices in the next five years. The location of Metro Cash and Carry on Kanakapura Road is attributed to the presence of wealthy families in the area and the vastly spread small retail network in the area. Housing activity along Kanakapura Road is expected to rapidly expand with the arrival of Metro Rail network. The line will reach Konanakunte, which will be connected to Majestic, which, in turn, is connected to M G Road.
Metro Rail Phase I (under construction) till Puttenahalli planned to be operational by mid - 2014. It is anticipated that the Metro will be extended till Anjanapura Township though the alignments are to be confirmed. With the upcoming Metro construction, J P Nagar and Banashankari continue to retain their attraction as residential destinations. The prospect of connectivity to the central business districts via Namma Metro, even from as far as Tataguni, seems to have made this road further attractive. A study by real estate portal 99acres.com revealed that property price trends after the launch of the first reach of the metro have enabled a higher price push in Kanakapura Road and Jalahalli, which will be connected in the next reach. Land value on Kanakapura Road is upwards of Rs. 3,500 per sq ft in developed stretches, while average flat builders price their residential units at nothing less than Rs. 4,000 per sq ft.
Listing out the major infrastructural developments in the area, "Kanakapura Road has become active on the real estate radar, especially in the residential sector, thanks to infrastructure developments such as: The establishment of NICE (Bangalore - Mysore Infrastructure Corridor) Road which has enhanced connectivity to Electronics City, Bannerghatta Road and Mysore Road. Bangalore Metro Phase 1 (under construction) till Puttenahalli, planned to be operational by mid - 2014. It is anticipated that Metro will be extended till Anjanapura Township though the alignments are to be confirmed.

"Kanakapura Road and Mysore Road are among the emerging localities and hold potential for upcoming residential developments. Residential activity on Kanakapura Road has increased recently, especially after the completion of the NICE Ring Road and start of the Metro construction work. This location has grown as an extension of Jayanagar, J P Nagar and Banashankari. Presently, this micro-market is dependent on Jayanagar and J P Nagar for its social infrastructure needs. Mysore Road again has seen some growth in residential development, primarily in the budget and mid-range categories. The residential activity here is anticipated to rise with the expected Metro Rail connectivity".
This connects all the major highways - Tumkur Road, Mysore Road, Old Madras Road, and Hosur Road."

All these factors have contributed to the growth of Kanakapura Road as a residential destination. This micro market is also witnessing retail activity (hypermarket formats) to support the residential activity. A number of residential projects have come up in the area as well as schools of repute. "The KIADB has a massive project coming up in the area and the stretch between the Kanakapura-Bidadi-Harohalli is seeing a lot of development. Most of it is in the mid-range category with value homes to coming up. There is a lot of plotted development that is taking place here due to the availability of land."

Market Research feels that most of the activity that is happening is beyond Khoday's factory and this is the hotspot of development in the area. Iskcon has a significant amount of development planned for this area as well. The plan is for this area to become serene and function as a purely residential area in the future." One of the features of Kanakapura Road is that the main roads are pretty well developed while the rest of the arterial roads still need to catch up.

What's in Kanakapura Road Serenity?

Apartments and townships are found mushrooming all through the year and the construction of metro, which will pass through commercial areas like Jayanagar and several other areas located in the city centre, has only increased the demand for the same. In fact, there are also plans of setting up aDisneyland-like 4D technology driven Krishna Lila Park in the ISKCON Township located here. Kanakapura Road leads to both Bannerghatta Road and Nice Road that offers a traffic free journey to Mysore. This has further upped its utility quotient. The presence of German retail giantMetro comes as an added advantage to the residents.
The road is home to educational institutes surrounded by 15 and more international schools and colleges. Delhi Public School, Alpine Public School, Kumarans, Jain International, Jyothi Kendriya Vidyalaya, APS institutions, Dayanand Sagar College of Engineering Yellamma Dasappa Institute of Technology and Jyothi institute of Technology are the prominent ones. Valley School in which Bollywood actor Imran Khan studied is also tucked away in the interiors of Kanakapura Road.
Tataguni Estate that sprawls over 450acre is housed on Kanakapura Road too. Locals say that the trees in the estate provided essence for perfumeswhich were exported to England. It was owned by Russian painter Svyatoslav Roerich and his actress wife, Devikarani. There was, however, a dispute over its possession following their death and it is now under government control. However several other estates and farm houses on this road are rented out for film and serial shooting.
What puts this road on the international tourist map is Sri Sri Ravishankar's Art of Living ashram. Spread over an 85acre land, the ashram consists of a meditation centre, school and an ayurvedic college and hospital among other things. The ashram in Bangalore became operational in the 1980s.
The establishment of the Bangalore Mysore Infrastructure Corridor - NICE Road which enhanced connectivity to Electronics City, Bannerghatta Road, Kanakapura Road, and Mysore Road. Its cultural, educational and spiritual status has ensured that it is among the best addresses in Bangalore.
The famous Banashankari Amma temple that is believed to have been built in 1915 is also the other famous landmark on this road. In close proximity to this temple is the Banashankari bus stop and a market that residents of JP Nagar, Jayanagar and Banashankari frequent for fresh fruits and vegetables.
While IT companies are yet to open shop here, Kanakapura Road is home to the prominent brewery and distillery unit, Khoday's. Hegde and Gole, a watch factory, was also located on this road. However, the factory, where world famous cricketer Prasanna is said to have worked, is no longer operational. The Power Grid Corporation of India and the Karnataka State Sericulture Research and Development Institute operate from Kanakapura Road.

Says Hari Khoday, the senior-most member of Khoday family and managing director of Khoday India Limited, "Prestige is doing a joint development project with us on our property." The 40-odd acres of plantation, which is part of a former glass factory, is being proposed for mixed use development - residential complex, IT spaces and a high-end mall.

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