A look at our history books would tell us that most great civilizations of the past came up near river banks or coastlines. Moving to the present, the story has changed somewhat. Nowadays, it’s the physical infrastructure and the promise of opportunity that attracts people to settle in an area. A look at the evolution of India’s ‘Silicon Valley’ and ‘Garden City’ of Bangalore is a clear illustration of the same.
Bangalore city, earlier defined by its petes and cantonments, rapidly expanded eastwards and southwards in the late 90s. Fueled by the IT boom and the construction of the Outer Ring Road, many villages rapidly became urbanized and a part of this ever-expanding city. We are now on the cusp of history repeating itself, with north Bangalore being the new theatre of development. The one major factor, which has brought about this boom, is the construction of the Kempegowda International Airport in Devanahalli, which opened in 2008. Already one of the country’s busiest airports, it has become a key economic and real estate driver. We look at the changes this airport has already indirectly brought about and also the impact of some promising developments announced recently.
The Airport: A magnet for infrastructure and industry
To get a better understanding of what the future holds, it is instructive to examine the impact of what has already happened. The biggest issue Bangaloreans had with the new airport was the distance from the city and the amount of commuting time it took. These issues were soon resolved with the construction of a 6-lane elevated expressway from Hebbal to the Trumpet intersection on Bellary Road and a link road to the airport from there.
Soon, the hospitality industry got into the act with hotels catering to businesspeople and travelers coming up here and the IT sector, the biggest employment generator, too moving to places such as Manyata Business Park and Kirloskar Tech Park. With numerous employment opportunities coming up, it was only natural that people working here would need homes close by. This led to many residential projects coming up along the Bellary Road. We, the Ozone Group, too have recognized the potential this area offers and our project, Ozone Urbana, is aimed at filling this very need.
For this growth momentum to be maintained and indeed exceeded, it’s important that the attractiveness of the area around the airport continues to be enhanced. Some recent decisions by the authorities offer a very bright picture of this area in the years to come.
The airport is already stretched to capacity, handling over 22 million passengers in a year with a growth rate of a whopping 22.5% on a year to year basis. The authorities have taken note of it and have begun construction of a 2nd runway as well as a 2nd terminal at the airport. While the new runway will allow all kinds of planes to land under all weather conditions, the second terminal will be capable of handling 45 million passengers a year, trebling the capacity of the current airport.
It is forecasted that upcoming developments near the Bangalore airport will spawn a host of residential and commercial real estate projects in the vicinity to cater to the needs of the jet-setting class. As both residential and commercial projects create demand for each other, one can expect rapid appreciation in property prices in the airport region. Whether you are a property investor or an end-user working nearby, you should be seriously considering purchasing a home here at the earliest to take advantage of both reduced traveling time as well as the upcoming boom.
Namma Metro is coming here too!
The Karnataka State Cabinet has, on 11th December 2017, announced that the proposed Namma Metro airport link, earlier scheduled for Phase 3, will now be constructed simultaneously with Phase 2. This metro line will cover a 29.8 km stretch from the airport to Nagavara, from where it will connect to other parts of the city) and is scheduled to be completed by 2021. Consisting of 8 stations along its route, it aims to sharply bring down both travel time to the airport as well as traffic congestion at the Hebbal flyover.
The Metro will have stations next to the Trumpet intersection as well as upcoming areas such as Jakkur. Needless to say, the Metro will convincingly resolve any connectivity issues prospective residents of these areas may have in mind regarding commuting to other parts of Bangalore. Apart from this, people working at some distance from north Bangalore can now seriously consider taking a home here and benefit from the lower property rates, as compared to other places. All in all, one can expect plenty of development particularly around this Metro corridor over the next few years.
Companies are not far behind either!
The area adjacent to the airport is now home to a massive aerospace SEZ, which has attracted some of the biggest names in the global civil aviation and defense sectors. Among the companies which are already operating here are Thysenkrupp Aviation, Wipro Aerospace and Dynamatic Technologies, while BEML and Jupiter Aviation to name but a few are on the verge of beginning operation.
Another game-changer will be the entry of Boeing, which will have its Global Engineering Centre within the aerospace SEZ. Also, planned near the airport are an IT Investment Region (ITIR) and a Financial Centre. Once these become functional, it’s reasonable to expect a plethora of people moving to north Bangalore to work and live.
A cursory look at each of these upcoming developments indicates that if there is a place to be in Bangalore over the coming years, it is north Bangalore, with the airport at its center. Offering top class connectivity, employment opportunities and a very high standard of living, while also being immune to the city’s traffic congestion, there is plenty here to like and even more to look forward to.
Ozone Urbana by the Ozone Group is a 185 acre township located right next to the Trumpet intersection and the planned airport link metro station on Bellary Road. We offer you luxurious homes of 2, 2.5, 3 and 4 BHK with everything you need within the complex itself. Whether you are looking for a school for your kids, a mall for your shopping needs, a clubhouse to chill out and even a luxury hotel, it is all here for you!