Despite acute water woes property values in Amruthahalli go up ...

Jul 29, 2013, 06:28PM IST

Bangalore

Amruthahalli located in the outskirts of Bangalore is fast developing into an upmarket residential area. Located near Byatarayanapura, what was once known as a village, today has grown into one of the fastest developing suburbs of the city. The area has witnessed a string of residential projects, since mid-2012. This is despite acute water shortage that the area witnessed, during the same period.

In the Apr-June 2013 quarter, this micro-market has grown by 16 per cent. With a wide range of residential properties in various stages of development the average value of the property in this locality is around Rs 5,000 per sq ft.
Some of the leading developers with projects in this area include Purvankara, Century, Hoysala, Brigade, Godrej and Sobha.

?The one big advantage that this place has is its strategic location,?? states Satish Kumar of Kumars Real Estate. ?Just 2 years ago, land prices in Amrutahalli were hovering in between Rs 200 and Rs 350 per sq ft. Today the current land rates are around Rs 1,500 to 1,700 per sq ft, primarily because it is close to the Bangalore International Airport,?? he adds.

Amruthahalli is about 1.5 km from the airport connected via the 4-lane New Airport Road. This is proving to be convenient for professionals working in areas like Manyata Tech Park, Kirloskar Park, BIA- Airport and BEL. Also as it is close to the Hebbal flyover, the area is connected to well-developed localities like Sahakara Nagar, R T Nagar and MR Gardens.

The locality is close to facilities like hospitals, (Columbia Asia Hospital and Cauvery Medical Center), well known educational institutions of North Bangalore like Jawaharlal Institute and Mahatma Gandhi Institute, St Joseph?s college, DPS and Ryan?s School and Esteem Mall.

Though the entire area around Hebbal Flyover is extremely crowded, home owners in Amrutahalli feel the locality is relatively quieter.

?The added advantage that the place has is it is quieter and greener than the neighbouring localities,? observes Manjunatha Gowda, Properitor, Kushala Real Estates. ?This is primarily because the entrance to Amrutahalli Main is slightly behind a CMC area that has remained undisturbed. This has also resulted in the place continuing to have its tranquility and green cover.??

Kanchana Dwarakanath, MagicBricks.com Bureau

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Source: http://content.magicbricks.com/despite-acute-water-woes-property-values-in-amruthahalli-go-up/

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