North Bangalore has witnessed tremendous growth since 2010. The comparison can be drawn to areas of Bangalore South east (like Sarjapura Road, ORR and Whitefield) which had heady growth in the decades 1990 – 2010. The factors driving growth in Whitefield was the declaring of the EPIP zone and ramping up of operations of ITPL in the nineties. The decade 2000-10 saw Whitefield adding new office spaces, similarly increased absorption of offices spaces in ORR (Intel, RMZ Eco Space, Vrindavan tech park, Pritech Park) and Sarjapur Road (WIPRO) were noticed. The residential, retail and entertainment developments in these areas also kept pace with the commercial space development. The capital values of spaces and land in these areas are very high. Further, land is now at a short supply. These areas are bursting their seams and commuting within and on the roads leading in and out of these areas have become a nightmare.
During the decade 2000-10, Bangalore North came into lime light. The Bangalore International Airport came into operation in the year 2008. This acted as a magnet for growth in Bangalore north. The Karnataka government in its effort to boost growth in Bangalore has identified several initiatives as mentioned below (located in Bangalore North)
Creation of ITIR (Information technology Investment region)
Twelve thouand acres of land 15 kms north of Bangalore International Airport at the Nandi foothills between Chikkaballapur and Doddaballapura in the Muddenahalli/ Kanivenarayanapura area has been identified for this purpose. The total investment here is about rupees one lakh crores, with an employment potential of 1.2 million (direct) and 2.8 million (indirect). Karnataka State Electronics Development Corporation (KEONICS) has recently issued Expression of Interest (EOI) for developing the region. Over 55 multinational IT companies including Infosys, Wipro, TCS, and Cognizant have signaled an interest in joining and have signed MOUs.
Creation of Devanahalli Business Park
This park will have exclusive areas for various segments. It will include an IT Park (of over 1000 acres) ,Hardware park (over 900 acres) and an Aerospace park( about 900 acres). This will be in proximity to the Bangalore International Airport. These developments are proposed to create about 1 million jobs.
Financial City: The foundation stone for the financial city has been laid in April 2012. This finance city will be close to the International airport
Bangalore North already boasts of Manyata Tech Park (18 million sft) , Kirloskar Tech Park and the huge under construction Karle Tech Park (4 million sft).
Bangalore north has some of the top schools in Bangalore. The schools include Vidyashilp, Aditi Mallya, Canadian International, Ryan international, Embassy stonehill International to name a few . Some of the top engineering colleges here are BMS IT, MSR IT, NITTE Meenakshi , Nagarjuna etc. To top it all, the prestigious head quarters of the VTU (Visvesvarya Technological University) is being relocated to Bangalore North.
The growth has caught the eye of all developers, thus creating high end residential spaces in the strategic suburbs of Hebbal. You can find lavish edifices which have not been seen anywhere in Bangalore come up in a big way here. In fact, Hebbal is touted as the new Indiranagar of Bangalore.
The area is generating huge demand for residential spaces and also seeing capital appreciation as never before. Seeing the location advantages of this Bangalore North, “EVERYBODY WANTS TO BE HERE”