Kengeri Becomes A Popular Suburb Among Budget-Friendly Tenants Of Bangalore

Previously popularly known as an industrial town, Kengeri is fast gaining prominence as an affordable suburb in West Bangalore as compared to its expensive neighbourhoods such as Banashankari and Rajarajeshwari Nagar.

Located in West Bangalore and 18km from the city, Kengeri is a key micro-market of Mysore Road and has been popular as an industrial hub. It is also the oldest satellite township developed by (BDA) Bangalore Development Authority approximately 30 years back. However, it has now transformed in to an affordable residential hotspot owing too proximity to established residential sites and educational hubs such as Banashankari and Rajarajeshwari Nagar, presence of Global Village Park, Toyota ancillary units, Peenya Industrial Area in the vicinity, and widening of Mysore Road and NICE corridor and impending Namma Metro Raiol plan. Further, the setting up of auto and manufacturing cluster in Bidadi has fuelled the realty growth in the area.

PRICE TRENDS
According to 99acres listings, the average capital values in the area are around Rs 3,500 per sq ft. Kareem Peer Khan, Managing Partner, Network Ventures shares, The demand for residential Is purely driven by mid-segment end-users who are working in IT companies and industrial region who are looking out for affordable area in the range of Rs40-50 lakh to live near their workplace. The region witnesses good demand and supply of 2BHK configuration. The tariff market in the area is alsoconsider affordable and witnesses huge traction from students and working professionals. A 1BHK unit area can be leased for Rs 5,000-6,000 per month. A 2BHK will be available for Rs 10,000-12,000 per month and a 3BHK will be available for around Rs 14,000-17,000 per month.

INFRASRUTCUTRE AND CONNECTIVITY
Kengeri benefits from excellent connectivity with Mysore Road, Outer Ring Road and NICE Road. Hence, people working in Hosur Road and Bannerghatta Road can reach Kengeri in 15-20 minutes via NICE Road. In terms of public transport, Kengeri has 2 BMTC bus depots and a bus terminal offering regular intra- and interstate bus service. In addition, Kengeri has its own railway station which caters to South Western Railway network. Further, the upcoming western extension of Namma Metro Phase 2 project to Kengeri Satellite Town will improve the connectivity with Rajarajeshwari Nagar.

The area is well-versed in terms of social infrastructure with the presence of educational institutions hospitals and entertainment avenues such as BGS Public School, Bangalore University, ShreyaHospital, SDM Institute of Ayurveda and Hospital, Gopalan Arcade Mall (Mysore Road).


POPULAR PLANS
Several planners such as Om Shakthi Nandhini, DS Max Properties among others have launched their plans to tap the residing demand in the area.
OM SHAKTHI NANDHINI SPRINGFELD, 2 and 3 BHK COSING ABOUT 27-37 LAKH
DS MAX SUPEREME, 2 and 3BHK 29.5- 50 LAKH
PLATINA EXOTICA 2and 3BHK 45-51 LAKH


INVESTMENT POTENTIAL
As per as 99acres report, Kengeri recorded a 7% quarter on quarter (QoQ) capital growth during April-June 2016. Khan adds that the property and capital values are expected to appreciate by 300% in the next six to seven years’ time given the infrastructure upgrades like the widening of Bangalore-Mysore stretch into an eight-lane road and Metro starting its operation. The key sites in the area are Uttarahalli and Big Banyan Tree.