Parts of Bangalore that were once considered the outskirts today are bustling townships in themselves with the scope of further development. Old Madras Road or OMR as it has been shortened to, is quite a massive stretch and has developed rather well over time. This stretch begins right in Ulsoor and essentially goes up to the KR Puram hanging bridge. However, the areas beyond that as well as considered to be part of OMR but on the outskirts. Hoskote, though a section of OMR, is not as active as the sections that are closer to the city’s center.
“OMR was largely an industrial area to begin with. But with time, many of the factories here have shut down or in the process. The land they rest on has been converted for residential or industrial purposes and development has taken place rapidly. Once connectivity to the Ring Road was established, the area began to flourish even more” says Mr Mahesh Khaitan , Head, Sattva Real Estate Solutions, a real estate market research division of Sattva Group
There are several projects in the area that are being developed by big brands in realty. A large number of these projects are being erected on what was once industrial land. Names like Brigade, Salarpuria and others are quite prevalent in the localities here.
“As far as scope of development on OMR goes, it is quite saturated and any new project will be able to come on solely on the basis of tearing down an existing building. There are a number of factories that are headed this way and land parcels will begin opening up. Land parcels will be made available on the interiors.” Says Mr TS Sateesh Managing Director Hoysala Projects.
“Industrial giants of yesteryears like NGEF, the Tin Factory etc though erected here were not really successful because the area is not viable for industries. With the setting up of the KR Puram railway station, the area became a major hub for inter-city travel. Now with the MRTS coming up here, connectivity will be extremely good.” Adds Sateesh
Infrastructure throughout the stretch is very good. While it was planed well in the initial stages, the amount of traffic that the roads have to handle today has led to congestion. Since this is the singular entry point to Electronics City, the density of traffic is really high, leading to bottlenecks. There are several governmental plans to rework the pattern of flyovers and create more underpasses and the like. Once these are put into place, there will be a serious amount of improvement in infrastructure in the area
The stretch from Hoskote and beyond are now opening up to development. There is a great deal of property available with a several high and mid-rises being developed here. The scope is high, considering the proximity to Electronics City.
“Land prices in this part of the world stand at around Rs 2000 to Rs 2500 for land per sft. For built-up space it is between Rs 2500 and Rs 3000 per sq ft. On the same stretch, as you move towards the city and closer to points such as Indiranagar, built up space will come at around Rs 8000 to Rs 10,000 per sq ft and for land it will be around Rs 6000 to Rs 8000 per sq ft.” elaborates Mr Khaitan.
The area has a significant improvement if road infrastructure is taken care of. Means of connectivity will improve when the metro commences. The presence of an elevated highway connecting Nelamangala to the city via Hoskote will also go a long way in improving the scope of the area for development.