The Abode Stories
These exclusive stories are aimed at helping you make the right decisions.
The economic impact: what’s in it for me
The main benefit of a mass mode of transportation is the ease and the convenience. Areas surrounding the metro station start to benefit by the rise of real estate demand. Be it rental or purchase. In the case of Namma metro (since the reach is only upto a few stations) the economic impact is slow, but it’s not invisible.
To read more on connectivity, please visit http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/the-effects-of-connectivity/article6553669.ece
The residential properties along the Reach 1 corridor have already begun to enjoy land appreciation benefits. As far as rental trends for residential properties are concerned pertaining to the Namma Metro project, the prices have increased by about 45%. On the other hand the rental rates for commercial properties have increased by 40%-50%.
Localities like Indiranagar, Kasturi Nagar, Uttarahalli have recorded impressive growth in the residential sector. We believe that the reason for this growth is due to the superior connectivity, proximity to commercial areas like M.G Road, Brigade Road and Koramangala, and an unparalleled inspirational value attached with the area.
Let’s look at an example: Kasturi Nagar
We can take Kasturi Nagaras an example, a residential area close to Baiyappanahalli Metro station. The transformation that this once quiet neighbourhood has recorded is simply amazing. It boasts of excellent wide roads, great residential areas, very good and well maintained parks, shops/hospitals nearby, Proximity to Outer Ring road and of course thenear byMetro terminal.
The 2nd main Road has turned in a very vibrant commercial street with restaurant cuisines ranging from Dosa Joints to Chinese and Italian joints. Brands like French Loaf, Mast Kalandar & more also claim presence. The residents can find almost every item that is needed for daily requirements. Its proximity to big malls like Gopalan Signature and the stand alone Big Bazaar add to the convenience factor of the place.
With the operational metro station MG Road is also not too far away (15-20 min).
The schools present in Kasturinagar range from Presidency school which is a CBSE School to Indo-German Pre-primary School that follows the ICSE curriculum.
Yoga wellness centres, gyms and well-made parks for the morning walkers. Kasturi Nagar has it all.
The issues that are being faced by Kasturi Nagar residents is the traffic congestion on both side near Byappanahalli Metro station and the KR Puram Tin factory. That is the real story. A buzzing city with as huge an influx of population from all over the country is recording growth from all sectors.
So, this is to give a real picture of the changing face of this sector. The images are up to date and have been clicked by team NRI Abode less than a month ago. Hopefully it helps you understand the growth of this area. Please feel free to call us or write to us – firstname.lastname@example.org.