Why Aerotropolis Project Will Make Bangalore More Business-Friendly
Hailed as one of the fastest growing Asian cities, Bangalore has shown an economic growth rate of over 10% annually. With titles like Garden City, Pensioner's Paradise and India's Silicon City, it becomes obvious that Bangalore is the hotspot for development in India. Now, the Aerotropolis project has added more shine to this already glamorous city.
Inspired aero-connectivity: The term 'aerotropolis' is used to define a metropolis built around an airport. Taking inspiration from state-of-the-art international airports like Singapore's Changi airport and Germany's Frankfurt airport, the aim is to make Bangalore more business-friendly. By having everything close to the airport, the frequent flyer can easily make a trip to the city, finish the meetings and still manage to get in a few hours of shopping – all this without really leaving the airport complex.
The current scene at Bangalore
With prominent Fortune-500 companies, as well as over 200 Biotech companies, calling it home, Bangalore real estate prices are shooting up every day. The Karnataka government has left no stone unturned in turning Bangalore into a hub for medical tourism. At present, the commercial sectors of the city are located around Electronic City, Central Business District, Whitefield and Sarjapur-Outer Ring Road.
Potential of Bangalore
According to a report submitted by Vestian Global Workplace Services, Bangalore is poised at the edge of becoming the next successful Aerotropolis. The Kempegowda International Airport (KIA) has several strategic advantages that can make Devanahalli the ideal spot for those looking to invest in property in Bangalore. Though it is located about 40 km away from Bangalore, the Hebbai-Devanahalli six-lane highway connects the Bangalore Airport to the city. The plans for providing Metro Rail connectivity and a high speed airport rail link are also in progress.
Infrastructure planning
The Karnataka government has identified up to 10,000 acres of land in the Devanahalli taluk for setting up the IT Investment Region.Availability of plots in Bangalore has made planning for the Aerospace Park behind KIA feasible. This will provide employment to over 10,000 people directly while also making the park a focal point for all maintenance, repairs and operations for the aerospace industry in Asia.The planned Devanahalli Business Park project is sure to draw a crowd with its multi-speciality hospitals, entertainment and economic zones, hotels, etc.With builders like Sobha, Prestige Group, Ramky Estate and many others offering premium residential options, property prices here are expected to show an increase of 10-15% annually.Several builders have acquired plots here to construct affordable homes as well.Meeting requirements
If you are still questioning the feasibility of this project in Bangalore, here are some more reasons why becoming an Aerotropolis seems to be the next best move for the city.KIA offers travellers the shortest distance to most other airports in south India.The Mumbai-Bangalore and Chennai-Bangalore Industrial corridors that have been recently announced will improve maritime connectivity as well.The Karnataka government has been working to make the environment in Bangalore more favourable for further economic growth.The Vestian report also identified infrastructure, operational capacity, real estate demand, as well as the regional economy, as factors that support this evolution to becoming an “airport city”.The hurdles on the way
In spite of all the planning and predictions, the Bangalore Aerotropolis runs the risk of remaining a dream if certain important issues are not addressed at the earliest. These include:The Centre for Sustainable Development has identified acute water shortage as the main hindrance to such large-scale developments. The KIA complex uses recycled water, but over exploitation of groundwater is the only option for the others in Devanahalli taluk.The proposed infrastructure plans seem futuristic but a large chunk of it still remains only on paper. This tardiness in streamlining the infrastructure development with that of the airport city might result in Devanahalli being just an extension of Bangalore.Taking a cue from the infrastructure development, the real estate developers have also slowed their pace.Connectivity between KIA and Bangalore is currently only by road. Unless the Metro Rail project is completed quickly, this can prove to be a disadvantage.The final verdict
The Indian government has also been eyeing the greenfield airports of Kochi and Hyderabad for such Aerotropolis projects. But the unique PPP model of governance and development that is exhibited in Bangalore gives it an edge over the others. Among all the high-profile ongoing projects in India, the Bangalore Aerotropolis project is the most promising.