Tumkur is steadily becoming a major real estate investment hotspot in Bangalore. Realty growth is steadily shifting towards the outskirts of the city and other peripheral areas. These areas are seeing rapid real estate growth due to several factors like good Government policies, physical infrastructure development including metro corridors, airports, flyovers and expressways and so on. The Smart City Project, for instance, has the aim of coming up with 100 such smart cities and Tumkur in Bangalore is also one of the cities targeted under this scheme for development. Tumkur has also been recognized as a major NIZM (National Investment and Manufacturing Zone) and an industrial smart city. Tumkur has become a key hub for the Mumbai-Chennai corridor post 11, 000 acres of land being acquired in the Vasantnarsapura region. There are 26 manufacturing companies which have already commenced their operations here and with higher employment, there will naturally be growing demand for housing across segments. Tumkur is steadily becoming a major affordable housing destination as well. Several leading real estate developers are looking to build big-ticket projects here which cater to entry-level and mid-range housing options. Tumkur is expected to generate price returns of more than 25% over the next few years. More companies will come to the NIMZ and hence employment levels will go up considerably, leading to higher demand for real estate in the area. The NIMZ is only 8 kilometres away from Tumkur on the National Highway 4, there are huge prospects for the area in the future. Key industrial clusters here will draw machine tool companies, aerospace component makers, auto component makers and so on. This will naturally spur overall demand for residential and commercial real estate. The GoI will also offer help with regard to financial inflows and hence development will be fast-tracked in Tumkur. The area will also be attractive to companies looking to set up branch offices and the Tumkur Road offers good connectivity to several areas. There are several coir industries, rice mills, oil extraction mills and other industries here along with the proposed textile park which should give a major boost to housing demand and job creation in the future. There will be an apparel zone, readymade garments zone and handloom cluster alike within this park. There is good connectivity to Bangalore through the NICE corridor and Outer Ring Road. There is also the National Highway 7 and Magadi Road which both link to Tumkur, making it a well-connected and rapidly growing future satellite town of Bangalore. Bangalore’s real estate market is witnessing ample demand for projects in almost every residential real estate segment. Some of the popular projects include Godrej Elite Townhomes at Yeshwanthpur, Rohan Akriti at Kanakapura and Godrej Gold County at Peenya.
Tumkur becomes realty hotspot in Bangalore
