Hosur Road in Bangalore Emerges as a Real Estate Hotspot

Jul 03, 2024
Hosur Road in Bangalore Emerges as a Real Estate Hotspot

Hosur Road, a major arterial road in Bangalore, has been attracting significant attention from real estate developers and investors in recent years. The area has seen a surge of activity, with several major projects announced and launched in 2023 and 2024.

One of the most notable developments is Puravankara Limited's acquisition of a 7-acre land parcel in the Hebbagodi suburb along Hosur Road to develop a premium residential project worth over ₹900 crore. The high-end housing project will have a saleable area of around 7.5 lakh square feet and a potential Gross Development Value (GDV) of more than ₹900 crore. Ashish Puravankara, Managing Director of Puravankara Limited, stated that Hebbagodi is a fast-growing locality within a 5 km radius of the IT hub of Electronic City, making it an attractive location for the new development.

This acquisition adds a total potential GDV of ₹1,550 crore to Puravankara's Bangalore portfolio in the current financial year (2023-24). The company also recently announced the acquisition of a 12.75-acre land parcel near Mumbai, with a potential GDV of ₹5,500 crore.

Other Developments Along Hosur Road

Hosur Road, where the Puravankara project is located, has seen several other notable real estate developments and infrastructure improvements:

  • The Bangalore Metro Rail Project Phase 2 is expected to connect Hosur Road with the rest of the city, enhancing connectivity and reducing travel time.
  • The Bangalore Development Authority (BDA) has proposed infrastructure projects to improve connectivity and ease traffic congestion on Hosur Road, including a 3.4 km flyover at the Silk Board junction.
  • Hosur Road is home to several IT parks and commercial establishments, making it an important business district in Bangalore. Companies like Wipro, Infosys, and HP have led to the development of commercial properties in the area.
  • The proposed Hosur International Airport, located just 40 km from Bangalore, could provide easier access for businesses in the Hosur Road and Electronic City areas, though the project faces regulatory hurdles.
  • Several real estate developers have launched residential projects in the Hosur Road region, catering to the growing demand from IT professionals. The area has seen an increase in apartments, villas, and gated communities.

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