Sarjapur, located towards the south-east of Bengaluru, is an emerging micro-market.
Sarjapur, located towards the south-east of Bengaluru, is an emerging micro-market.
Connectivity through the Outer Ring Road (ORR) to the various well-established commercial districts in the city has primarily led to the emergence of Sarjapur Road as an IT belt, running parallel to Electronics City. With the transformation of Hosur Road into a mature commercial market, Sarjapur Road, which was an untapped location with proximity to residential catchments and availability of land, has now turned into the next focal point of commercial growth in the south.
Further, the active commercial and residential belt of the Marathahalli-Sarjapur ORR has led to occupier and investor interest in locations along Sarjapur Road.
Growth factors
According to research by Cushman and Wakefield, the gross absorption of Grade-A commercial space year-to-date 2015 on Sarjapur Road is 49,700 sqft.
"Factors that have worked in favour of this micro-market are availability of land for commercial development, presence of a sizeable IT/ITeS population, rapidly developing social and general infrastructure including schools and hospitals as well as relatively affordable property prices with lower rentals. These factors make this locality a favourable residential destination," Trivita Roy says.
Preferred office marketA recent research report by CBRE South Asia for the third quarter 2015 reveals that the Sarjapur Road-ORR micro-market continued to maintain its position as the most preferred office destination for corporate occupiers, with significant interest from IT/ITeS and engineering manufacturing firms. Reduced vacancy levels in completed developments ensured that leasing activity was slightly subdued during the quarter. The micro-market garnered a share of 17 percent in the total leased space across the city.
Demand for residential property
Thanks to its rise as a preferred office market, Sarjapur Road has also gained greater prominence as a residential belt.
Trivita Roy says, "Real estate developments around Sarjapur are witnessing a rapid growth. Sarjapur is one of the most promising markets for villa projects in Bengaluru. Villa and row house developments, affordable and mid-segment residential projects are most active within Sarjapur, and buyers are very sensitive in terms of amenities, product quality and unit sizes."
According to data with Cushman and Wakefield, two-bedroom units come in a size range of 900-1,500 sqft. The size of three bedroom configurations ranges between 1,200-2,000 sqft. The price range here is Rs 40 lakhs to Rs 1.50 crores.
Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/residential-belt-around-sarjapur-sees-rapid-growth/84277.html
Sarjapur, located towards the south-east of Bengaluru, is an emerging micro-market.
Connectivity through the Outer Ring Road (ORR) to the various well-established commercial districts in the city has primarily led to the emergence of Sarjapur Road as an IT belt, running parallel to Electronics City. With the transformation of Hosur Road into a mature commercial market, Sarjapur Road, which was an untapped location with proximity to residential catchments and availability of land, has now turned into the next focal point of commercial growth in the south.
Further, the active commercial and residential belt of the Marathahalli-Sarjapur ORR has led to occupier and investor interest in locations along Sarjapur Road.
Growth factors
According to research by Cushman and Wakefield, the gross absorption of Grade-A commercial space year-to-date 2015 on Sarjapur Road is 49,700 sqft.
"Factors that have worked in favour of this micro-market are availability of land for commercial development, presence of a sizeable IT/ITeS population, rapidly developing social and general infrastructure including schools and hospitals as well as relatively affordable property prices with lower rentals. These factors make this locality a favourable residential destination," Trivita Roy says.
Preferred office marketA recent research report by CBRE South Asia for the third quarter 2015 reveals that the Sarjapur Road-ORR micro-market continued to maintain its position as the most preferred office destination for corporate occupiers, with significant interest from IT/ITeS and engineering manufacturing firms. Reduced vacancy levels in completed developments ensured that leasing activity was slightly subdued during the quarter. The micro-market garnered a share of 17 percent in the total leased space across the city.
Demand for residential property
Thanks to its rise as a preferred office market, Sarjapur Road has also gained greater prominence as a residential belt.
Trivita Roy says, "Real estate developments around Sarjapur are witnessing a rapid growth. Sarjapur is one of the most promising markets for villa projects in Bengaluru. Villa and row house developments, affordable and mid-segment residential projects are most active within Sarjapur, and buyers are very sensitive in terms of amenities, product quality and unit sizes."
According to data with Cushman and Wakefield, two-bedroom units come in a size range of 900-1,500 sqft. The size of three bedroom configurations ranges between 1,200-2,000 sqft. The price range here is Rs 40 lakhs to Rs 1.50 crores.
Article Source : http://content.magicbricks.com/industry-news/bangalore-real-estate-news/residential-belt-around-sarjapur-sees-rapid-growth/84277.html
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