Devanahalli, which was a part of rural Bangalore until the last 3-5 years is now abuzz with residential and commercial projects. If one were to go by the recent updates, the news is that the next IT hub of Bangalore could well be in the vicinity of the Bangalore International Airport. With huge real estate investments, several ongoing projects, and many upcoming infrastructure projects, Devanahalli has all the makings of a real estate goldmine.
Let’s check out what makes Devanahalli, the next buzzword in Bangalore’s real estate market. So what are the upcoming projects? The proximity to International Airport has made Devanahalli, the most preferred hotspot and as proof of this, a slew of projects like the Karnataka Industrial Areas Development Board (KIADB) Aerospace Special Economic Zone (SEZ) and KIADB IT Park are fast upcoming in this area. Clearly, there is no denying Devanhalli is ready for some serious growth in the next few years, and those early to seize this opportunity are sure to see some big gains in the near future.
Then there is also an Aerospace Park and SEZ coming up at just 11km away from Devanahalli. In fact, Big corporate giants like Eaton Industrial Products Private Limited, Collins Aerospace, Centum, and Boeing are all set to start their ventures. The region has already attracted an investment of over Rs 13,000 crore to date. The numbers don’t just stop here; the huge investment in the area also means that the Aerospace Park and SEZ are likely to employ more than one lakh people in the future. What’s more, these are in fact validated by the Karnataka Udyog Mitra.
If you thought that this was all it, then this is just the start of the infrastructure story in the area. Did you know that the Devanahalli is also the proposed site for Phase 2B of the Namma Metro? What this means is that the new upcoming metro line will soon connect to the International Airport and the project is all set to be completed by 2024. A 37 km-long metro Phase 2B is envisioned as an airport link from KR Puram to Kempegowda International Airport (KIL) in Devanahalli. The metro corridor will have 17 stations in total and it would pass through Nagawara in the North and goes up to Gottigere in South Bangalore. The extension of the Metro Line 4 under Phase 2B of the Namma Metro will leave no stone unturned from making Devanahalli a force to reckon with in Bangalore real estate market.
With a slew of infrastructure projects and prices still at competitive rates, Devanahalli surely has all the ingredients, be it for those looking for investment, homes, or commercial projects.
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The investments from the Non-Resident Indians (NRIs) have surged in the FY 2021 to $13.3 billion from the earlier estimate of $13.1 billion according to a report published by 360 Realtors. The same report states that the investment volume has climbed upwards by 6.4% compared to the previous financial year despite the pandemic and the buyers’ sentiments plummeting downwards.
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