Reasons That Make KR Puram An Upcoming Real Estate Market In Bengaluru
Located in the India's Silicon Valley Bengaluru, KR Puram is an upcoming real estate market. A city that hosts 131 biotech companies, 682 multi-national corporations (MNCs) , 1,685 IT and IT-enabled service companies and government organisations such as Bharat Electrics Limited (BEL) , Hindustan Aeronautics Limited (HAL) , National Aeronautics Limited(NAL) , Indian Space Research Organisation (ISRO) , Bharat Earth Movers Limited (BEML) , and Hindustan Machine Tools Limited (HMT) , poses a great opportunity for residential real estate too. The city, which in past 41 months, has witnessed a rise of 17 per cent in property prices, sees many new localities emerging as potential hotspots. One such locality is KR Puram. This locality is known for it strong infrastructure coupled with affordable housing in Bengaluru.
PropGuide lists prime factors that makes KR Puram an emerging real estate market:
Strategic location
KR Puram, located in the eastern part of Bengaluru, attracts investors' attention given its strategic location. KR Puram acts as the centre of operations of the Bangalore-East taluk and also, houses many government offices along with 50-year old Indian Telephone Industries (ITI) . Its proximity to the IT hubs of Whitefield and Marathahalli further boost the demand for affordable flats in KR Puram. It is surrounded by A Pura, B Pura, Kuvempu Nagar, Dooravani Nagar and Pai Layout.
Good connectivity
KR Puram, located along National Highway 75, makes it well-connected to the rest of the city. It is positioned at the junction of the Outer Ring Road and Old Madras Road. For those who plan to travel by metro can reach the nearest Metro station in Byappanahalli which is at a distance of three kilometers from here. Moreover, efforts are being made by the government to ensure that drivers enjoy a smooth drive from International Airport to the central business district. Under the plan, improvement will be made on Hebbal flyover and five important roads of the city — K R Puram between Benniganahalli and Mahadevapura Flyover, Outer Ring Road between Silk Board Junction and Jayadeva Hospital Flyover, Ramanamaharshi Road from Mekhri Circle to Windsor Manor Junction, Bannerghatta Road between Bangalore Dairy and Sagar Apollo Hospital, Nagawara Junction towards Hebbal and Hebbal Flyover. The locality is also connected to the Krishnarajapuram railway station along with a large number of buses connecting the locality to different parts of the city.
Proposed developments
The National Highway Authority of India (NHAI) has proposed to create two, six-lane elevated expressways that will make commuting easier by lowering down the traffic jam at the intersections on the highways. One expressway will link Hosur Road flyover at the Central Silk Board Junction to Hebbal flyover on National Highway 7 and the other expressway will link KR Puram flyover to the Nelamangala flyover on NH-4. A 23-kilometers long expressway will connect Nelamangala and Krishnarajapuram. These developments will boost the demand for apartments in KR Puram.
Positive price trends
Real estate in KR Puram has flourished over the last few years. In the past 41 months, the property prices in KR Puram has seen an increase of 21.3 per cent. This positive scenario further pushes the demand for apartments and plots in KR Puram. As a result, many prominent developers are constructing new apartments in KR Puram. Some of the developers in KR Puram are MC Builders Sarovar, Shakthi Builders Shakthi Fairmont, Vaastu Structures Dew Flower and Group Turquoise.