Outer Ring Road Building Investment Inroads in Bangalore

By: George Gonigal

Owing to the development of Outer Ring Road (ORR) Bangalore has witnessed a rise of around 35-40 per cent in the plot values along ORR. Areas such as Sarjapur Road, Kanakpura Road and Bannerghatta Road are the new hubs of real estate development. Demand for prime residential and commercial properties has increased in the last two quarter and to cater the same real estate developers are moving towards the outskirts of Bangalore.

The proposed 21.56 km Airport Expressway is further leading to ORR development. In addition to providing better connectivity within the city, it will also create business opportunities for many in the vicinity.

Considering this, the developers are using the available space on the ORR for commercial and residential real estate developments.

Increasing connectivity of ORR has further open channels for development in social infrastructure such as schools, colleges, hospitals and this will further appreciate Bangalore commercial and residential real estate values.

The real estate capital values at Sarjapur outer ring road increased from Rs 2,500 per sq ft to Rs 4,800 per sq ft in the last two quarter and industry experts expect it to grow more in future. Because of the availability of space for lifestyle projects and the increasing connectivity ORR is the most preferred location for premium housing projects and Bangalore.

Besides, Bangalore Development Authority (BDA) is also taking some significant steps to develop ORR. It is constructing a 60 meter underpass project at ORR and Ramamurthynagar and a 530.35 meter four line underpass at Magadi Road-Chord road.

BDA is also executing ORR work between Mysore Road-Magadi Road for a length of 5.7 Km at a cost of Rs 92 crores. With all these developments underway ORR is unlocking new growth paths for the already booming market.

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