Bengaluru’s transit infra projects to boost realty
Bengaluru’s major transit infrastructure projects such as metro and roadways will lead to several large-scale real estate developments in 24 locations of the city, as per a recent report by real estate consultants Knight Frank. The report says these infrastructure projects have an estimated cost of more than $11.4 billion. Knight Frank’s analysis suggested that approximately 24 locations in Bengaluru contribute towards transit-oriented infrastructural development.
The projects will drive incremental real estate development across several well-established office hubs and isolated locations that need public transport connectivity. The report confirmed that approximately 127 km of the metro, as well as 270 km of road projects, are currently under different stages of construction in Bengaluru. Moreover, developments such as Bengaluru Metro Phase 2, its extensions and new lines are expected to be completed by 2021-2025. Additionally, road projects such as Satellite Town Ring Road (STRR), suburban rail network and Peripheral Ring Road (PRR) would be completed by 2025.
The prime markets in Bengaluru that will be affected are Whitefield, Electronic City Phase-1 and Phase 2, Mahadevapura to KR Puram belt and Bellandur to Marathahalli belt.
Enhancement of various transit infrastructure throughout the city will improve the connectivity. It will result in a reduction of travel time to employment hubs too. These upcoming infrastructural development will lead to a potential development for the real estate market.