Land Prices Spike in Hoskote

Published on Feb 27, 2013, 05:20 AM IST
In the last few months, land prices in Hoskote have witnessed tremendous growth of at least 25 per cent. Hoskote, which till recently was a small part of the city is now being rated as a good area with great potential by developers and investors. Thanks to aggressive investment plans by the government of Karnataka. The other reason for such a spike in real estate prices is Narasapura in Kolar district. The government has declared Narasapura as an auto hub of Karnataka.

Narasapura Industrial Area located in Kolar district is approximately 50 KMS from Bangalore. KIADB has proposed to develop a massive industrial township in three phases. For the first phase, it has acquired 685 acres of land and 1480 acres of land for the second phase and for the third phase, it has identified 2000 acres of land. Honda two wheelers and Volvo have already found home here and few companies to follow are Mahindra and Mahindra aerospace, Bando India, Scania by Volkswagen is planning for an assembly unit and Volvo plans its expansion too. The government expects to generate at least 1,00,000 jobs from these companies. DVG Bangalore university has plans to have its base in Hoskote, the campus in Hoskote will be spread over 150 acres and will have all infrastructure, including adequate faculty and other amenities.

These aggressive plans and investments have been backed by good infrastructure too. The government recently inaugurated a BMTC bus depot. Good road planning has taken a precedent here. The proposed Satellite Township Ring Road (STRR) covering 284 km will connect Hoskote with other important satellite towns around Bangalore. The 6 lane highway to Chennai starts at Hoskote. Locally, Hoskote has good connection to important parts of Bangalore. Budigere road connects Hoskote to BIAL in 30 minutes.

Most realtors like Prestige, Sobha, Brigade have their presence here. Some of the large projects coming up near this area include Mana Placido, The Empyrean, Nitesh Forest Hills, Sobha Amethyst and Balaji Pristine. Other realtors are holding on to their land banks for higher realization.

While affordability and connectivity are big drivers to this region, it's important to know that IT companies haven't bought land or set up their shop here and this belt is being projected as an auto industrial hub. The absence of corporate environment is a dampener and the growth may not be as rapid as Whitefield, ORR or Sarjapur Road. Most developers and builders have analyzed the situation here and the trend of budget / smart homes are quite evident by recent projects launches like Pashmina Brookwoods, Prestige tranquility, Pruksa. This can be a good secondary investment option for long term.

Well, in real estate, we've got to invest and wait and NOT wait to invest.