Budigere, located in northern Bangalore, has transformed into an attractive destination for real estate investors on account of a planned infrastructure project and there has been a rise in average capital values between July and September, 2017. Along with good rental income prospects, there are possibilities of good returns on investments as well.
The hue and cry over the steel flyover linking Hebbal and Basaveshwara Circle towards the Kempegowda International Airport (KIA), has forced state authorities to zero in on an alternative airport route through prime localities. This will also ease up traffic congestion in areas like the Mekhri Circle, Ballari Road and the Hebbal Junction. The 22 kilometer road widening project will link the KIA Road to Hoskote through Budigere, Devanahalli and Mylenahalli. The total project cost is estimated to be Rs.420 crore and the single-lane road will be widened towards becoming a four-lane road for easier traffic flow.
Along with lowering traffic congestion, this development is expected to offer a massive boost to real estate markets in the stretch. Budigere has already witnessed an increase in capital values to Rs.4,560 per sq. ft. from Rs.4, 460 per sq. ft. Budigere will come up as a major housing destination in north Bangalore according to experts and the road widening project will slash traveling time between Budigere and the International Airport by almost half, making it ideal for the working professionals and employment opportunities will increase across Aerotropolis and the Aerospace and IT Parks according to industry experts.
Budigere is also garnering a spill-over housing demand due to the growing saturation in capital values across nearby localities like Whitefield and Brookefield. The Aerotropolis complete with the Aerospace and IT parks have been proposed for the region and these projects will unlock housing dmeand across Budigere, Devanahalli and Hebbal. These corresponding developments should certainly lead to growth of social infrastructure in Budigere as well.
