Emerging real estate locations in Bangalore – Varthur & Gunjur
September 6th, 2018
Among the emerging set of real estate destinations are Varthur and Gunjur. Located within the IT/ITES triangle these two areas have already seen a host of developments and will continue to see more …
Over the years Bangalore has proved to be among the top real estate destinations in India. Despite the roll-out of RERA Act and Demonetisation, real estate market in Bangalore has not shown violent fluctuations and as of now looks steady. This is good news for developers, buyers and investors.
The city is known to have a stable real estate market. As per reports, about 40% of the on-going constructions will be ready-to-move-in stage over the next 6-9 months. Among the top localities in Bangalore are two areas that have the stamp of ‘Emerging Real Estate Destinations’ – Varthur/Varthur Road and Gunjur.
Now, why are these two areas labelled as emerging destinations?
Let us observe the factors contributing to the rising popularity of these two locations –
Varthur/Varthur Road – a transformed Hobli
Varthur is a suburb situated in East Bangalore and is a Hobli or a cluster of villages. It is now part of the BBMP (Bangalore Bruhat Mahanagara Palike) and an integral part of the Whitefield Township.
Over the last 3-4 years, Varthur and Varthur Road have become significant real estate hubs all thanks to some important factors such as the below –
Strategic Location: The Varthur road, an extension of the HAL Old Airport, begins after the Marathahalli Bridge and ends at the Varthur Circle connecting the Whitefield main road. It is perhaps one of the most strategically located roads in Bangalore. The road passes through Marathahalli, Kundanahalli, Thubarahalli, Siddapura, Ramagundanahalli and Varthur Kodi – areas that are bustling with real estate activity and have seen considerable scale as far as residential projects are concerned. The Varthur road area has at least 7-8 major projects undertaken by top developers.
Proximity to other hubs: Varthur is closely aligned with some major hubs of Bangalore. It is situated between the Outer Ring Road and the ORR (that stretches for 60 KM around the perimeter of Bangalore) to its west and the Whitefield Township to its north-east making it a very busy and bustling center. Varthur is also close to Sarjapur and the Varthur-Sarjapur road that connects the two popular real estate destinations holds a lot of promise for the future.
Road Developments: The Varthur road requires some development and widening. But the good news is that the state government has sanctioned a 30-crore budget for widening and developing of the road connecting Varthur village to Sarjapur Village via Gunjur. BBMP has initiated the project at the Varthur Tank Bund Road and the entire project is slated to be completed by 2019. The road which is currently about 21 feet wide will be widened to 160 feet for a length of 1.4 KM to create a 6 lane main carriage and 2 lane service road.
Proximity to IT Hubs: Varthur road lies to the south of the Whitefield Township making it a favourite spot for employees working in the various IT hubs situated in Whitefield. The distance to ITPL is about 5.5 KM and to EPIP Zone is about 7.7 KM from Varthur Kodi. Varthur road also connects with the ORR that hosts many IT parks and companies.
Social and Physical Infra: By virtue of being close to Whitefield, Varthur enjoys all that Whitefield has to offer in terms of both Social and Physical infrastructure. The famed Forum Value mall is located right around the Varthur Kodi and the InOrbit Mall is located about 5.5 KM away via Nallurhalli road. The Ascendas Square Mall is located right next to the ITPL zone is about 5.5 KM away via the Hopefarm road.
There are a host of food and beverage options along with some major hyper retail chains that include Reliance, Hyper City (Birla Group) and the famed D-Mart, which sits right on the Varthur road close to Siddapura.
Civic Amenities: Varthur road has a constant and uninterrupted supply of power and water supply – two major factors that allowed some big-time developers to initiate projects in the first place. The requirement for water is fulfilled through the Cauvery Stage IV initiative ensuring that all the commercial and residential complexes have enough supply.
Development of Lake: The Varthur lake which has been in the news for all the wrong reasons is now in the news for the right reasons. The state government has chosen the Varthur lake, along with the Bellandur lake, to be made into a Water Sports hub in the coming 2-3 years. The lake is just about 1KM from Varthur Kodi making it very accessible.
Gunjur – a village on the verge of transformation
Gunjur by virtue of lying between Varthur and Sarjapur has begun to attract attention on the real estate front. With its large parcels of available land and a much serene and calm landscape, Gunjur serves well as a major residential destination to be.
Another advantage to Gunjur is that it lies in the IT/ITES triangle of Electronic City, the ORR and Whitefield Township, making it must-to-develop area from BBMP and state government’s perspective. There is also the plan to develop the Peripheral Ring Road, the first phase of which will connect Electronic City to Whitefield. This road would directly cut through Varthur giving the surrounding areas such as Gunjur the much-required boost.
While north and south Bangalore have occupied the headlines for real estate development, east Bangalore is rising up to the occasion all thanks to Varthur and Gunjur. Relatively underdeveloped areas, Varthur and Gunjur rank up as the emerging destinations for real estate development and are a good bet from both the developers’ and buyers’ perspective.