Top Projects - Karnataka

Karnataka, in the recent years, has been witnessing a major spurt in real estate activity owing to its flourishing economy. While the rise in IT parks in Bengaluru is fuelling the residential and retail markets in the city, tourism is a major driver for the growth of Mysore, Bidar and Bijapur. "The cities of Bengaluru and Mangalore are registering maximum growth despite economic slowdown and high inflation," informs Gopalkrishnan P, Executive Director, Sobha Developers. Upcoming residential properties The most popular segment of real estate in Karnataka is apartments. The primary demand for this comes from the working population and NRIs investing in second abode here. "Bengaluru, being the preferred destination for residential projects, is expected to add around 90 million sq ft (or around 65,000 units) to the residential market," predicts Karun Varma, Managing Director-Bengaluru and Kochi, Jones Lang LaSalle India. Also, highlighting the company's activities, Gopalkrishnan reveals, "Sobha Developers is launching three new projects in the next five months, which includes a villa on the Old Airport Road and two others on Bannerghatta Road and Kanakapura Road". Apart from Bengaluru, Mysore has also experienced a surge in property development. The Mysore-Bangalore freeway is one of the lucrative locations with many residential projects lined up here. Sobha Developers is developing an enclave with 83 plots over 9.98 acre offering shopping centres, IT campuses and heritage sites in the vicinity. The other residential projects coming up in the state include: Brigade Sparkle: Spread across 3 acre in Mysore, this project by Brigade Group offers luxurious 2/3BHK apartments varying from 880-1,290 sq ft. Its other amenities include a rooftop swimming pool, gym, multiple party areas and an indoor games room. Hill Crest: This 14-storey tower by Property Infratech India in Mangalore offers well-planned and spacious 3BHK apartments ranging from 1,989 sq ft-2,305 sq ft in sizes. The other amenities include shopping malls, prayer centres, gym, library etc. Skyline Riviera: This premium 45 villa enclave, developed by Skyline Group, spreads across 4.3 acre in Mary Hill in Mangalore. The project offers amenities and facilities like 3D theatres, club house with swimming pool, steam house, coffee shops, etc. Upcoming commercial developments Bengaluru continues to attract the most investments in commercial projects in Karnataka. "Retail development is an embedded part of the city's urban landscape," adds Varma. "To cater to the anticipated increase in demand triggered by the growth in the commercial segment, about 18 malls are currently in varying stages of planning and construction across the city." Here is a lowdown on three upcoming commercial projects: Maruthi Concorde Tech Park: Spread across 2 acre, this tech park by Concorde Group is coming up at Electronic City, Phase-I. HVP Aster: The Habitat Ventures Project in East Bengaluru will have about 66,000 sq ft of leasable area spread across five levels. While the first two levels are expected to cater to retail use, the next two levels are planned for office suites. The Pavilion: The project developed by SJR Prime Corp is a few metres off the arterial main Outer Ring Road and surrounded by IT companies. The Pavilion, with the total built-up area of 322,000 sq ft, offers 100 per cent power back-up and 24-hour water supply.