Why North Bengaluru
North Bengaluru is sure to emerge as the future real estate hotspot of Bengaluru.
With activity in government promoted economic hubs gaining traction, BIAAPA region in Bengaluru North may be India’s first ‘aerotropolis’ in the making. (An aerotropolis is an urban agglomeration with an airport city at the centre and aviation-linked businesses around it).
Bengaluru has the potential to develop into an aerotropolis due to its strong economic growth, location advantage, favorable demographics, and airport’s growing operational capacity, improving infrastructure and availability of large land area for future growth. Government of Karnataka is promoting various business parks in the vicinity of the KIA and close to 500,000 new jobs are anticipated to be created by 2025.
Aerospace and aviation is the next growth engine (after IT) for the state. The state is expecting an investment of Rs 4,000 crore into this park alone and the intent is to make it a Maintenance, Repair and Operations (MRO) hub for Asia.
Regional economy and airports share a close link. High tech industries(firms specializing in Information and Communication Technologies) generally locate their facilities within the airport fence as high-tech professionals are likely to travel by air at least 60% more frequently than other professionals. Proximity of offices & residences to the airport also gives these businesses a healthy future & high visibility for their brands.
Hence a correlation between an airport development and proliferation of supportive real estate in the adjoining region gives rise to commercial, residential, retail, hospitality, healthcare & education facilities.
Government of Karnataka (GoK) is promoting IT/ITeS, Hardware, Aerospace and Biotech sectors as target industries. Agglomeration of these industries around the airport is not only anticipated but is already a reality today. Currently, a few companies— Wipro, Starrag Heckert, Amada TE and Shell Technologies—have started operations or are under construction, creating close to 2,500 jobs. Activity in these clusters is likely to gain traction in the next 3-5 years. Once fully operational (by 2025), these industrial and technology clusters are likely to employ close to 500,000 people.
The Economic base for KIA is sound with high-tech & new economy industries clustering around the airport with large impetus to job creation and hence promoting supportive real estate mentioned above.
The burgeoning future hub of North Bangalore today has a lot to offer on infrastructure & connectivity. Nearly 40,000 families are expected to be living in and around KIA & the KAIDB Aviation Park, and air traffic is envisaged at around 50 million passengers per annum by 2030. Considering today's 14 million passengers per annum rate, North Bangalore is the natural direction for Bengaluru city’s growth.
North Bengaluru is the favorite for those looking to invest in residential properties for factors like:
- Good availability of land
- Planned development in the BIAAPA area under a separate planning authority
- Quick access to the airport through Bellary Road (NH-7 elevated expressway)
- Proposed metro rail/ high speed rail link to the airport
- Future-ready infrastructure
However, the region is not just IT and the airport. Schools and hospitals have also started emerging, thus making it the perfect place to work and live.
Adarsh Palm Acres is located in the eye of North Bengaluru’s new age development & connectivity and is the address to be.