Good connectivity, worthy properties, fine location – you
name it, Sarjapur has it, Know more about this popular
residential hub.
Sarjapur is a fast-developing part of
Bengaluru with good connectivity to key IT cluster areas like
Whitefield, Electronic City, Outer Ring Road, Marathahalli and
Koramangala. As a micro-market, Sarjapur is booming, thanks to rapid
development in terms of commercial and residential spaces.
Plus factor
Sarjapur’s
connectivity to IT hubs and its location along the Outer Ring Road
(ORR) is what makes it an excellent destination for residential and
commercial developments. “There are about two lakh employees working in
the Outer Ring Road stretch making Sarjapur Road a busy IT corridor.
Home buyers enjoy the convenience of living close to their work place.
Another good reason is that real estate prices on Sarjapur Road have
been more affordable compared with certain similar upmarket
counterparts.
Sarjapur
is emerging as one of the most promising markets for villa projects in
Bengaluru. “The density of population in the Sarjapur area is high
vis-a-vis other well-developed areas. However, this can also be
advantageous, as any investments will lead to sharper price
appreciation, spurred by robust demand in the local market.
“The primary advantage of the region is that land is
available at a cheaper price and primary work has been done by IT
companies already,”adds J C Sharma, vice chairman and managing director,
Sobha Limited.
Price talk
Availability
of large land parcels for both commercial and residential development
makes Sarjapur an attractive proposition. “This location has about eight
multi-storey apartment projects, which are actively selling with around
2,400 units and another 1700 units yet to be sold. Residential prices
have appreciated by about five to ten per cent in this location,
depending upon the type and quality of the projects,” says Trivita Roy,
assistant vice president, Research and REIS, JLL India. In addition to
this, the residential market in the locality is primarily driven by the
end-user demand, especially from the IT sector employees.
“The
capital values range between Rs 4,500 and 6,300 per sq ft, and the
rental values range between Rs 20,000 and 35,000 for a two-BHK
configuration and Rs 30,000 and 45,000 for a three-BHK configuration.
This micro-market has witnessed a capital and rental value appreciation
of five to seven per cent in the last one year,” avers Sanjay Dutt,
executive managing director of Cushman & Wakefield, South Asia.
With
significant Grade A office space supply in the pipeline and a rise in
affluent employee base in this part of the city, the demand for housing
is likely to sustain in the years to come. “A good portion of the demand
is expected to drive sales in the mid-segment housing category in this
sub-market in the near term. There are more than 40 apartment projects
across categories of developers available in this market, with prices
ranging from Rs 2500 per sq ft to Rs 7000 per sq ft.p.
Pros & cons
If you look at the
growth thrust, it has been towards South and East Bangalore in the
recent past and while saturation is being witnessed in other areas, this
region is still seeing huge development and new project launches at a
rapid pace. This is because of the potential in the area and the ample
space available for development.” In last one year, average prices in
Sarjapur Road have increased from Rs 4,281 per sq ft to 4,545 per sq ft,
thereby registering six per cent annual growth.
Accessibility
and availability of social and physical infrastructure are Sarjapur’s
strongest attractions. “The Infosys SEZ Tech Park is located in
Sarjapur. Also the locality is known for its greenery and Billapura
Lake. It is also an educational hub and houses Bangalore Technological
Institute, ITM Institute of Hotel Management, Bangalore College of
Engineering and Technology.
While the ORR itself is a significant civic infrastructure
project that connects Bengaluru laterally, connectivity was further
heightened with the signal-free corridor initiative, cutting travel time
considerably. Most of the high traffic junctions now have flyovers or
underpasses. Kumar A, senior manager - sales & marketing, Soul Space
Projects Limited adds, “This area allows the residents to travel to
different parts of the city with ease and speed, as this locality
provides an easy connectivity to NH-207 (towards Hoskote/Kolar) and NH-4
(towards Hosur), which makes commuting to offices and schools easier.”
Traffic
congestions at a few major intersections and poor development of
internal roads and issues with water supply are major constraints. The
infrastructure in the area has aided in boosting office space demand.
“Despite
being such a high-end market, one of the major drawbacks in the area is
the lack of traffic management. Given that the area is densely
populated with residential and commercial properties, there has to be
efficient road network and traffic management that is the need of the
hour.
