Synopsis: Kanakapura in the South and Devanahalli in the North, are slowly becoming the North-South growth engines of Bengaluru. This article interprets their potential across infrastructure developments, pricing, and the growth potential of the areas in the next 5 years.
Bangalore’s real estate market is not just confined to Whitefield or Kormangala. With the large infrastructural developments in Devanahalli and Kanakapura, and the growing discussions of establishment of a second airport in Kanakapura are all leading to the rise in buying demands in the area.
1. Connectivity and Infrastructure
Kanakapura Road
- Presence of the Namma Metro Green Line connects till the Silk Institute on Kanakapura Road
- Road expansion work is in process to mitigate the peak-hour congestion
- Peripheral Ring Road (PRR) (in process) will further improve accessibility towards the North Bangalore and major national highways
Devanahalli
- The Bengaluru-Vijayawada Expressway enhances the connectivity across states between Karnataka and Andhra Pradesh
- The Satellite Ring Road (STRR) in Devanahalli has significantly increased property prices in the area by ~20%.
- Upcoming Namma Metro Blue Line Extension will connect Devanahalli directly to the city centre
2. Employment and Commercial Ecosystem
Kanakapura Road
- Electronic City is at proximate distance of ~20 km which is one of India’s largest IT hubs
- NICE Road, the Bangalore-Mysore Infrastructure Corridor, makes it convenient for the IT professionals to consider nearby places in Kanakapura as a residential location
- Proximate tech parks like, Meenakshi Tech Park and Global Village Tech Park establishes a more commercial ecosystem
Devanahalli
- The Devanahalli Business Park already houses many companies like, GSK, Thales India, and Wistron
- Foxconn’s $2.8 Billion investment for manufacturing in the area has already improved its commercial importance
- Presence of Bangalore IT Investment Region has further made the region as a growing employment centre
3. Livability and Social Infrastructure
Kanakapura Road
- Presence of the Art of Living International Centre, Pyramid Valley
- Reputed schools such as Orchids International School and Podar International School
- Multiple hospitals including Astra Super Speciality Hospital and Cura Hospitals, these show the increasing livability of the region and a strong infrastructure.
Devanahalli
- Rapidly growing planned retail and entertainment zones
- Planning of establishing multi-speciality hospitals
- These show the future growth in social infrastructure is positive.
4. Investment and Rental Potential
Kanakapura Road
- The average flat rate per sq. ft. is ₹11,350
- The average rent yield is 4%
- And the 5-year price appreciation on flats and apartments is 89.2%
- Hence making this area most suited for rental yield
Devanahalli
- The average flat rate per sq. ft. is ₹9,500
- The average rent yield is 3%
- And the 5-year price appreciation on flats and apartments is 72.7%
- According to reports, a further 30 to 40% price rise in the next 2 to 3 years is estimated.
- Hence making this area most suited for capital appreciation
Estimated Property Price Comparison
Source: 99acres.com for Devanahalli and Kanakapura Road.
Growth Potential Scorecard: Kanakapura vs Devanahalli (Next 5 years)
Source: 99acres.com for Devanahalli and Kanakapura Road.
All in all
Both of these corridors are showing high long-term growth potential. Kanakapura Road is best suited for the investors who value established livability in green surroundings and better rental yield, on the other hand, Devanahalli is one step ahead in various infrastructural developments and developer projects hence, best suited for investors chasing capital growth, airport proximity, and large-scale commercial activity.
Written by Jahnavi
