Karnataka

01 Nov 2010 CW Team

Upcoming commercial developments

Although the major demand for commercial space in the state comes from IT and IT-related companies, it is also a foremost requirement for other business sectors. For instance there is a strong demand for retail space as the construction of several shopping malls is underway. Moreover, there are industrial projects coming up in Greater Bengaluru which continues to hold promise as far as development is concerned. While, the Centre has approved Rs 22,536 crore to fund different infrastructure projects under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), private developers are also developing a number of projects. These include:

Prestige Shantiniketan: This business precinct by the Prestige Group is being developed on 105 acre in Bengaluru. It comprises two 16-level towers, a 12-level crescent block, and a stand alone 17-level signature tower. The project offers around 3.5 million sq ft of office space.

Nitesh Madison Square: This is a 5 lakh sq ft office building being developed by Nitesh Estates on the Old Airport Road. This A-grade office building will offer an international work environment along with a world class convention centre.

Golf Resort: Coffee Day Hotels & Resorts is developing a 100-room golf resort at its 1,200-acre coffee estate at Sankeshwar in Belgaum.

Upcoming residential developments

The vast influx of manpower has increased the demand for residential properties in Karnataka. Lucrative career prospects and strong infrastructure is luring many buyers to purchase residential properties in the state. The main target in the current timeframe is the middle working class and the upper middle class and all residential properties have been planned accordingly. They show a great deal of planning, high-quality architecture, engineering and refined urbanism and are backed by a strong infrastructure.

Some of these projects include:

Jasmine Gardens: This project by Radiant Structures in Yelahanka comprises G+4 floors having 120 apartments of 1-3 BHK with amenities like swimming pool, gym, children play area, etc.

Valencia: This is a residential tower by Bearys Properties & Developments in Mangalore comprising G+9 floors having 36 apartments of 2-5 BHK with amenities like swimming pool, clubhouse, gym, etc.

Legacy Ariston: This residential project by the Legacy Group in Yelahanka comprises 3 blocks of G+4 floors having 2-4 BHK apartments with amenities like swimming pool, gym, meditation area, etc.

With the turnaround in the IT sector and increased employment intake, the realty sector in Karnataka is witnessing an upswing in demand and the figures are expected to further increase by 2011. The most popular segment of the development in the state is apartments, the primary demand of which comes from the working population and NRIs. Cities including Bengaluru, Mangalore, Mysore, Bijapur, Badami, Hampi, Belur represent a strong prospect for real estate investment that will further mark its growth in very near future and will see multipliers to their values. Upcoming commercial developments Although the major demand for commercial space in the state comes from IT and IT-related companies, it is also a foremost requirement for other business sectors. For instance there is a strong demand for retail space as the construction of several shopping malls is underway. Moreover, there are industrial projects coming up in Greater Bengaluru which continues to hold promise as far as development is concerned. While, the Centre has approved Rs 22,536 crore to fund different infrastructure projects under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), private developers are also developing a number of projects. These include: Prestige Shantiniketan: This business precinct by the Prestige Group is being developed on 105 acre in Bengaluru. It comprises two 16-level towers, a 12-level crescent block, and a stand alone 17-level signature tower. The project offers around 3.5 million sq ft of office space. Nitesh Madison Square: This is a 5 lakh sq ft office building being developed by Nitesh Estates on the Old Airport Road. This A-grade office building will offer an international work environment along with a world class convention centre. Golf Resort: Coffee Day Hotels & Resorts is developing a 100-room golf resort at its 1,200-acre coffee estate at Sankeshwar in Belgaum. Upcoming residential developments The vast influx of manpower has increased the demand for residential properties in Karnataka. Lucrative career prospects and strong infrastructure is luring many buyers to purchase residential properties in the state. The main target in the current timeframe is the middle working class and the upper middle class and all residential properties have been planned accordingly. They show a great deal of planning, high-quality architecture, engineering and refined urbanism and are backed by a strong infrastructure. Some of these projects include: Jasmine Gardens: This project by Radiant Structures in Yelahanka comprises G+4 floors having 120 apartments of 1-3 BHK with amenities like swimming pool, gym, children play area, etc. Valencia: This is a residential tower by Bearys Properties & Developments in Mangalore comprising G+9 floors having 36 apartments of 2-5 BHK with amenities like swimming pool, clubhouse, gym, etc. Legacy Ariston: This residential project by the Legacy Group in Yelahanka comprises 3 blocks of G+4 floors having 2-4 BHK apartments with amenities like swimming pool, gym, meditation area, etc.