With the victorious announcement of Deputy Chief Minister DK Shivakumar the price of Real estate and property is increasing in leaps and bounds. Currently, the real estate prices in Kanakapura city are close to Rs. 80 lakh to Rs. 1 crore per acre. Ramanagara city also witnessed the soaring price of real estate which just crossed Rs. 1 crore per acre. Previously the city Ramanagara which is located 49 km away from Bengaluru witnessed a gigantic demand for real estate, after the release of Bollywood superhit film Sholay in the mid-1970s. At that time, Bengaluru was not so developed, and gradually it was on the verge of becoming the one and only IT destination of India.
The controversy started condensing here, after DK Shivakumar’s demagogic announcement regarding the integration of Kanakapura, 40 minutes away from Ramanagara, with Bengaluru.
That day, he also mentioned that, Ramanagara district will become a part of south Bengaluru. After this incident, local brokers say queries have increased by about 15 percent, with a major focus on Kanakapura Road.
The projects which are located along the stretch where Bengaluru and Kankapaura conjoined have received a massive appreciation right after the Yelachenahalli station of Namma Metro was launched on Kanakapura Road.
According to the local brokers, Kanakapura Road has drastically developed within two years. The vice president of Hanu Reddy Realty, Kiran Kumar quoted that, the major attraction in the area is the Art of Living centre, which attracts tourists throughout the year. He also added that, the incident of the inclusion of Kanakapura with Bengaluru further triggered the prices by another 15 percent.
Sunil Singh, director, Realty Corp said that the prices of the apartments have risen to Rs. 7,000 to 9,500 psf, up from Rs. 5,000 psf year. According to the realtors and brokers Kanakapura Road is a bustling real estate hub in south Bengaluru, as it is functioning as an extension of Jayanagar and JP Nagar. Managing director of Bengaluru-based Concorde, a real estate firm mentioned that their flagship project, Concorde Napa Valley, was sold Rs. 80 lakh a villa in 2014 at the time of lunch but surprisingly it is now being resold at Rs 2.2 crore.
With the expanding Bengaluru beyond the urban area, it has touched Ramanagara, Channapatna, Bidadi, and Kanakapura. Bidadi which is located between Bengaluru and Ramanagara, and Channapatna, and located close to Ramanagara has witnessed bulging price of Rs.60 lakh per acre. One of the major key players which triggered the price being the double of previous price range is the newly constructed Bengaluru Mysuru Expressway.
Real estate brokers and realty experts opined that, the major investments will commence when the area will be actually integrated with Bengaluru.
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
