Hebbal: attracting realty investments from all corners

Hebbal, located at a distance of around 10 kilometres from central Bengaluru, is a residential and commercial hub in the Northern quadrant of this thriving city. Once known for its pristine lake away from the city limits, this micro-market has now turned into a vibrant real estate location with sprawling flyovers that network the Outer Ring Road and NH-7 (Bellary Road).

 

Owing to its excellent strategic location and good connectivity, Hebbal’s commercial real estate market has attracted large corporates to take up office spaces there. This, in turn, has attracted large numbers of Bengaluru’s working population to this micro-market, pushing the demand for residential real estate developments in Hebbal.

 

Commercial real estate development at Hebbal has indeed been impressive. IT giants such as IBM, Philips Software, Integra Micro Software Services, Electronics Limited and AstraZeneca have their base here. It also houses business hubs such as Manyata Tech Park, Manyata Embassy Business Park which currently offers commercial space opportunities in M2 Block, and Kirloskar Business Park. These massive office hubs have seriously boosted residential as well as retail developments in this location.

 

Not surprisingly, Hebbal has now emerged as one of the top destinations to invest in, attracting investors not only from Bengaluru but from across India. In the future, Bengaluru is expected to receive a number of IT/ITeS, aerospace and biotech companies that will take up as much as 45 million sq ft of office space, out of which a majority of the commercial developments are expected to be in Hebbal.

 

On the residential front, this bustling market has around 180-190 projects, a majority of which are ready for possession, a few that are currently under-construction and a handful that are soon to be launched. As the area is witnessing an influx of companies that will act as a catalyst for employment opportunities, developers are focusing on providing wide spectrum of residential projects. Some of the key active developers offering quality projects in Hebbal include Godrej Group, Brigade Group, Prestige Group and Sterling Group.

 

The International Airport is also accessible from Hebbal at a distance of about 29 km, and there is a railway station on the Outer Ring Road (ORR). Hebbal is well-connected with the various city centres via flyovers and six-lane roads, and has a very good public transport system in place in the form of bus services provided by Bengaluru Metropolitan Transport Corporation (BMTC).

 

In January 2016, residential property prices in Hebbal stood between Rs  8,100-8,200/sq.ft, which increased to Rs 8,700-8,750/sq ft by September. Over the last three years, property prices at Hebbal have appreciated by over 25 per cent, projecting almost 10-12 per cent annualised appreciation in its property prices depending on the project and amenities offered. This constantly escalating price trend has created a positive market sentiment, giving investors high confidence to enter this thriving real estate market. All in all, keeping in mind the quality developments and appreciation trends being seen at Hebbal, investing here is definitely a good proposition over the mid-to-long term.

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