Devanahalli – The Emerging Paradise for Realty Investors in Bengaluru

Devanahalli, the most thriving realty markets in Bengaluru and home to the world-famous international airport, the Kempegowda International Airport. The locality gained its prominence post the commencement of the international airport as availability of large tracts of land parcels had attracted domestic and international realty investors to this micro-market. Devanahalli situated in north Bengaluru on the cusp of emerging as most preferred business hubs. The proposed IT Parks, multiple SEZ (Special Economic Zone) for hardware, aerospace and manufacturing will drive the realty market of Devanahalli in near future. Devanahalli is well-connected by NH-44, popularly known as Bellary Road, a six-lane signal free road connects to Outer Ring Road (ORR). It connects prominent residential and business hubs like Yelahanka, Nagawara, and Hebbal within 20 minutes. New Airport Road and SH-104 connect to all prime localities of eastern Bengaluru. The locality has its own railway station where certain passenger trains halt. The major closest railway station from here is Yelahanka Railway Station at 18 km away. The Kempegowda International Airport is located within its vicinity. Social Infrastructure The micro-market has self-sustaining social and civil infrastructure which makes it habitable. The locals have easy access to educational facilities, hospitals, retails, and supermarkets. Oxford English School, Akash International School, Caramel English School, Bangalore Medical College and Research Institute, Manipal Education etc. are some of the prominent educational facilities are present in and around Devanahalli. Leena Multi Speciality Hospital, Akash Hospital, & Drishti Eye Hospital are some of the renowned hospitals and supermarkets like D-Mart cater to the needs of Devanahalli netizens.   Business and employment hubs Devanahalli is rapidly emerging as the commercial hub of Bengaluru, as proximity to international airport has attracted many domestic and international investors to set up their business bases. Devanahalli Business Park is anticipated to attract commercial investment of around USD 2.2 billion over the next five years. The government has allocated large land parcels for government agencies and private businesses to establish two IT SEZ, a Global Financial District, and two manufacturing SEZ. The area has the presence of various IT & manufacturing companies like SLK Software Service, ITC, HAL, BEML, Dynamatic Technologies and others. Kirloskar Tech Park, Manyata Tech Park, North Gate Office Park, Brigade Magnum and Karle Town Centre SEZ are some of the renowned business hubs are located at 15-30 minutes distance away. Realty market of Devanahalli Devanahalli is developing as a satellite town of Bengaluru with huge land parcels in the backdrop of Nandi Hills. Due to huge potential investments for commercial and business hub development from public and private sector has attracted several regional and national real estate developers towards Devanahalli realty market. Several Grade A developers such as Brigade Group, House of Hiranandani, Salarpuria Sattva Group, Ozone Developers, Godrej Properties, and others have their residential and commercial projects in this area. Devanahalli is rapidly emerging as well planned, open, and green residential destination owing to its long-term investment potential due to the upcoming development of employment opportunities. The residential property prices are hovering in the range of INR 4,251 – INR 6,342 per sq. ft and average price stood at INR 5,287 per sq. ft. The residential properties in this realty market over the last ten quarters have registered capital appreciation by 13%. According to property type distribution, around 46% of properties available in Devanahalli realty market are plots followed by apartments (42%) and villas (12%) respectively. Scope of growth The presence of KIADB Aerospace Special Economic Zone & KIADB IT Park and upcoming BIAL IT Investment Region and Global Financial District will bolster Devanahalli as an employment hub, subsequently, the demand for residential properties will surge. The proposed 65-km Peripheral Ring Road will pass through Devanahalli via Bellary Road, further establish smother connectivity with eastern Bengaluru. Devanahalli is a proposed site for Phase-2 of the Namma Metro Project, which goes through Nagawara in North Bengaluru and closures at Gottigere in South Bengaluru. These infrastructure projects like metro and roads will reduce travel time further and connects with other prime localities of Bengaluru, overturning the realty market for better growth in the long term.