Proximity to the IT hub of Whitefield, upgradation of Old Madras Road and affordably-priced residential options are bringing the Hoskote Road belt into focus.
The emergence of Whitefield as a self sustaining township has had an impact on locations along roads connecting to the IT node of the east. One such location on the outer limits of the city is Hoskote. Access to Hoskote is through Whitefield Main Road via Kadugodi as well as through Old Madras Road via K R Puram.
Old Madras Road has witnessed significant development from its origin in the city at Ulsoor, traversing C V Raman Nagar on to K R Puram, leading to Whitefield and Hoskote. The upgraded highway has brought Hoskote closer to Whitefield, bringing with it the advantage of large land parcels available at comparatively affordable prices. This has led to increasing residential activity on the stretches connecting these two locations.
Farook Mahmood, Managing Director, Silverline Realty Pvt Ltd, elaborates on developments taking off here. "Located around 28 km from the city centre, the Karnataka Industrial Areas Development Board has a major presence here with an industrial park. There is an industrial zone being developed here and many industries are coming up on the main road. The Hoskote Road belt is turning into a hub for auto and ancillary sectors with two auto majors here. Moreover, it is accessible from Whitefield and Marathahalli. This has opened up demand here from corporate employees too."
According to research by Cushman and Wakefield, Hoskote Road has two bedroom and three-bedroom configurations in apartments. Size ranges are 900-1,200 sqft and 1,200-1,500 sqft respectively with prices ranging between Rs 35-75 lakhs.
Development focus around Budigere Cross
Budigere Cross is a fast-growing corridor with access to IT companies in Whitefield on one side, and the hardware aerospace park and the international airport on the other. The area has also witnessed industrial investments from Japanese firms.
Hoskote is just three km from Budigere Cross.
A S Sivaramakrishnan, Head Residential Services, CBRE South Asia, elaborates, "Currently, multiple Grade-A residential developments from reputed developers are coming up near Budigere Cross. There are plot development options between Rs 1,200-2,000 per sqft in and around Hoskote while the rate at Budigere Cross is Rs 4,000-5,000 per sqft. There are some residential developments in Hoskote in the range of Rs 40 lakhs for two and three-bedroom apartments."
Farook says, "Budigere Cross has emerged as a major residential location here. Apartments are available here in the price range of Rs 3,000-4,500 per sqft. Sites are available in the Hoskote Road belt in 40x60 ft and 30x40 ft dimensions, price averaging Rs 1,500 per sqft."
Striking a price comparison between residential options around Budigere Cross and neighbouring Whitefield, Ilyas Rajjan, Managing Director, Trend Shelters, explains, "A two-bedroom apartment in a good location in Whitefield, say around Hope Farm Circle, near ITPB or 1-2 km from a prominent mall on Whitefield Main Road towards Varthur, will cost around Rs 80 lakhs. Just 8-10 km away at Budigere Cross, you can get it for around Rs 50 lakhs. Affordable housing options are available here too. This has led to homebuyers in the 23-29 years age bracket investing here."
Sai Prasanna, Times Property, The Times of India, Bangalore
SOURCE: magicbricks.com
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