Once a jungle region, featured in novels Magadi is now becoming a fast developing locality after all the wildlife around the area got encroached and destroyed. Magadi is getting to become a part of Bangalore that is just 25kms away. Historic background of Magadi runs back to when Kempegowda made this place the capital of all his territories. Even as sales velocity for mid-income and luxury housing in Bangalore fluctuates with macroeconomic variations, the city’s affordable housing segment has been witnessing steady demand on the outskirts. Availability of large land parcels at lower price points and the rapid expansion of the city in all directions have encouraged real estate developments even in the outlying areas. Infrastructure developments such as the planned Metro Rail and Peripheral Ring Road also play a part in making these affordable emerging areas attractive and viable. Bengaluru is one of the fastest-growing cities in the world and the Congress Government has ensured that the city is investor-friendly and has created an environment conducive to the massive investments that the state and city are witnessing in the last 2 years.
The industrial employees who work in the nearby locality find this area very attractive because of its proximity to all the industrial areas and the commute to other suburbs around Bangalore city. The Outer Ring Road (ORR) and NICE road connect Magadi road to all the other major localities. Mysore road connects this suburb all the way to MG road and Bypanahalli. Namma Metro is another project that is looking to turn up the face value of this locality. Such great connectivity will naturally invite people over. In Bengaluru, investors must also focus on a locality’s proximity to IT hubs as this is where the maximum demand from the on-hold home buyers is expected to mushroom. However, consider thinking beyond the conventional investment hotspots of Whitefield and Electronic City. South Bengaluru’s IT hub, Electronic City, has been swarmed by housing projects and might witness further price correction due to existing owners resorting to desperate exit routes. Social infrastructure facilities like hospitals and schools are already in place and are acting as catalysis for residential development in the area.
Most of these social infrastructure developments are adequately catering to the existing residing population. With the proposed Mumbai-Bangalore Industrial Corridor, this micro-market is expected to benefit from an increase in the much-needed economic driver, which will significantly increase demand for all core real estate asset classes like residential, commercial/office, retail, hotel, industrial infrastructure. The Bangalore Metro Rail Project is envisaged as a major game-changer for Bangalore City in terms of inter-connecting different parts of the city and reducing traffic congestion on city roads, and significantly cutting down the commuting time. The upcoming villa projects in Bangalore are mostly happening around this stretch and this is creating a market sensation as for the availability of land. The gated community having many luxury villas in Bangalore seems to elevate the lifestyle of people and this has in turn created a much-needed break for the market. Hence Mysore Road is the talk of the town and a perfect choice of investment.