Kanakapura Road, nestled in South Bengaluru, has emerged as an appealing real estate choice, attracting attention due to its affordability and potential. The area, once an extension of Jayanagar and JP Nagar, is gaining traction among homebuyers and developers alike.
Affordability Draws Interest
Amid Bengaluru’s flourishing real estate micro markets, Kanakapura Road stands out for its affordability. Residents like Arvind Shetty opt for this area due to its reasonable real estate prices, despite the distance from their workplaces.
Rising Property Values
According to real estate experts, property prices along Kanakapura Road have surged in recent times. Land parcels now sell at Rs 10,000 per square foot, while apartment prices range from Rs 7,000 to 9,500 per square foot, a significant increase from a year ago.
Comparatively, areas like Hebbal in North Bengaluru command prices ranging from Rs 13,000 to Rs 16,000 per square foot, and Whitefield in East Bengaluru starts at over Rs 14,000 per square foot.
Development and Demand
Local realtors highlight the area’s evolution into a real estate hub. Notably, projects like Concorde Napa Valley have seen substantial value appreciation since their launch.
Future Prospects
Leading real estate firms like Prestige Group foresee further development potential on Kanakapura Road. New launches, including premium housing, are on the horizon, signaling a promising trajectory for the area’s real estate.
Kanakapura’s Advantages
The relative affordability of Kanakapura Road makes it an attractive investment option, offering higher returns compared to other areas. Infrastructural enhancements like the expansion of access roads and connectivity through NICE Road have contributed to its appeal.
Challenges Ahead
Despite its growth, challenges persist. The distance from the city center remains a hurdle for daily commuters. Proposed integrations with Bengaluru have sparked interest among investors, but actual implementation will be the key driver for substantial investments.
While Kanakapura Road presents promising opportunities and increasing property values, sustained growth hinges on overcoming challenges and integrating seamlessly with Bengaluru.
(Source: Moneycontrol)
Also read: Top 5 KRERA Orders Shaping Bengaluru’s Real Estate in 2023