Table of Contents
Anshul Soni has been looking to purchase an apartment in Bengaluru with a budget of ₹1 crore. “I can see that Kanakapura Road has decent affordable flats with grade A builders. We also commute easily to Hosur Road since I am an IT professional working in ORR with work-from-home and my wife works on Hosur Road,” he added.
About three months ago, he found a 2BHK for around 90 lakh and reconsidered his choice to move into the area.
Located around 30 minutes from south Bengaluru’s IT corridor of Electronic City, Kanakapura Road is a prominent arterial route connecting major localities and extending towards the city’s outskirts. The companies operational in Kanakapura Road include Infosys, Wipro, and Tech Mahindra among others.
Also Read: North Bengaluru, outskirts of Whitefield among areas likely to see rental appreciation
Although North Bengaluru is still one of the city’s booming real estate micro markets, Kanakapura Road is likely to significantly appreciate at least 15% in 2025, according to Sunil Singh, director of Realty Corps.
Kanakapura Road is appealing to investors because it is comparatively less expensive than certain other areas of Bengaluru. Several infrastructure projects have also made the area appealing to developers and homebuyers.
Affordable real estate in the area
The real estate prices in Kanakapura Road are relatively cheaper than in some other parts, making it attractive for investments.
The average residential rentals in the area vary from ₹25,000 per month to ₹30,000-35,000, depending on the type of development.
Land costs in the area vary from ₹3000-15,000 per sq ft for plots and ₹4.5-15 crore per acre for land parcels. “The apartment cost in the area is about ₹7000-12,000 per sq ft with Grade A developments typically between ₹10,000-14,000 per sq ft,” Singh added.
A 2BHK in the area can be rented for ₹20,000-30,000 per month with a security deposit of typically 6-9 months. A 3BHK rent is available for ₹40,000 onwards.
Grade A developers operational in Kanakapura Road include listed developers like Prestige Group and Brigade Group.
Also Read: Bengaluru leads office space absorption with over 14 million sq ft, up by 66% YoY in 2024
Why have prices started to increase on Kanakpura Road?
Local brokers say that prices in the area have already started surging, with fewer residential inventories available for Grade A developers.
According to data from real estate firm Knight Frank, residential properties on Kanakapura Road increased by 3% in the first half of 2023, matching the southern IT corridor of Electronic City.
“In one of the plots in the area, the costs have jumped to ₹3000 per sq ft from ₹ ₹2500 last year. And in a project close to Uttarahalli, the plots are now being sold at ₹10,000 per sq ft from ₹4600 per sq ft last year,” Singh added.
In gated developments like Prestige Primrose, Singh said 2BHK apartments, launched about a year ago, were sold at ₹1 crore from ₹75 lakhs last year. Similarly, prices for 1BHK have jumped to ₹75 lakh from ₹60-65 lakh last year.
Infrastructure developments boost connectivity
Several infrastructure projects have been a major boost, including making the access to Kanakapura Road a four-lane highway. Additionally, NICE Road, which connects the area to the southern IT Hub of Electronic City, and Mysuru Road, which connects Ramanagaram to Mysuru, have also been significant investment incentives.
In December last year, Bengaluru’s municipal corporation Bruhat Bengaluru Mahanagara Palike (BBMP) announced a 2-km flyover to decongest Kanakapura Road at a cost of ₹1,200 crore.
“Due to its metro connectivity in the area, people who work in places in South Bengaluru like JP Nagar and Jayanagar choose to stay in Kankapura Road. Additionally, we see several people buying lands for investment purposes in the area,” Singh said.
However, the area is still disconnected from the city centre, so a daily commute to the city remains a challenge for homebuyers. Additionally, Kanakapura Road is far away from the eastern IT corridor of Whitefield, making it an isolated haven for real estate in the city.
