Hoskote,
a mere taluk in Bangalore city has evolved into a satellite town and
therefore has become the hottest destination for real estate
investment. Hoskote popularly known as Neo Bangalore is an area in
North Bangalore where residential plots are being bought by leading
real estate developers in order to come up with various villa and
apartment projects that will in turn attract more customers.
Neo
Bangalore is expected to witness a major real-estate boom in the
coming years and the value of residential plots in north Bangalore
area is expected to go sky high in the near future. Some reasons why
one should invest here are:
The
most important reason that is attracting more developers to this area
is its location. Strategically located on the Bangalore-Chennai NH 4,
the development of this area is completely dependent of this as
Hoskote is expected to attract more IT crowd to Bangalore. It is in
close proximity with IT hubs like White Field. The area is also well
connected by metro and therefore accessible that will in turn convert
it into a well demanded residential area.
The
social infrastructure is also playing an important role in helping
the real estate to boom here. Educational and healthcare facilities
are in close proximity and the Satellite Township Ring Road that will
spread over 284 kms will undoubtedly increase the real estate demand
to a great extent. Great road connectivity to Devanahalli and the
international airport has attracted many home buyers to invest in
villa plots and apartments here. Another exciting feature is the 188
km Intermediate Ring Road that helps connect Hoskote to the other
parts of Bangalore. A SEZ Special Economic Zone is also expected to
come up, which will also generate a lot of employment.
All
these infrastructural developments will take the land values sky
high. The developers are therefore buying sites
near international airport Bangalore, Hoskote and nearby areas to
come up with new projects. A residential plot at Neo Bangalore would
cost anywhere between the range of Rs 1850 to Rs 3,300 per square
feet and it is to be noted that the properties in Hoskote have been
appreciated up to 80 per cent in the last one year. A flat at Hoskote
would cost you from Rs 2300 to Rs 3950 per square feet based on the
amenities offered by the developer.
Source
Neo-Bangalore
Connectivity
is another major advantage that is making the place a favourite among
real estate investors. Hoskote is well connected and networked with
roads and metros to all the major portions of Bangalore. Therefore,
living in this area will not bring any change to those working at IT
companies in other areas of the city.
Bangalore
city is growing rapidly and so are the requirements of people in
terms of houses that are very important. Converting places like this
into townships will definitely serve the purpose in a long run.
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