In India, Bengaluru has emerged as an IT hub down south and the fast-paced development of social and urban infrastructure has made the professionals opt to be a homebuyer instead of a tenant in this city. All this has opened doors to Bengaluru property market and it led a positive impact on the Magadi road. So, go through this blog and understand why Magadi road is a paradise for homebuyers in Bengaluru.
Situated 51kms away from the Bengaluru city, Magadi city has become a premium residential market due to smart connectivity, tranquil atmosphere and several infrastructural projects that are proposed to make this locality a better, safer and a smart place to reside in.
Magadi road is a 43-kms long stretch that starts from Binny Mills and go upto Ramanagar district and airport then. The other road connects this locality swiftly as the famous NICE road is merely 13 kms away from Magadi and this distance can be covered within half an hour. Similar to this, the locality also shares smooth connectivity with Mysore road and Tumkuru road that are located in approximately 25kms of area.
The modern-day transport i.e. the metro service offered by Namma metro in the city connects Magadi with areas like Indira Nagar, Vidhana Soudha, MG Road and Byappanahalli.
3. Social Infrastructure
The presence of several academic institutions like Indira Nagar, Vidhana Soudha, MG Road and Byappanahalli along with medical centres like Abinav Hospital, Sri Lakshmi multi-specialty Hospital, Manipal hospital and financial institutions such as Canara Bank and SBI Bank within a radius of 5-6kms make Magadi road, Bengaluru a premium residential hub.
4. Residential projects
Magadi road, Bengaluru has emerged as a prominent housing locality and thus the developers such as KT Developers and Promoters, Sobha Developers, Salarpuria Sattva, Provident Housing and Prestige Group propose residential projects here. The prospects, however, prefer 2BHk instead of 3/4BHk in Magadi road, Bengaluru and this is because the clients feel that renting 1 2BHk unit is far easier than a bigger sized unit.
The average property cost in Magadi road, Bengaluru ranges between Rs. 5,000 per sqft and Rs. 6,700 per sqft.
5. Proposed Infra projects
There are two main proposed infrastructure projects and the first one is STRR i.e. Satellite Town Ring Road project. This will change the face of property market here as it reviewed under the Bharatmala Pariyojana. STRR is planned to cover 12 areas and is 204 kms long and 90-meter wide. This route will decongest the road traffic while strengthening the inter and intra-city road connectivity.
The second is metro from Magadi road toll gate to kadabagere. Under phase 3, the Bengaluru Metro Rail Corporation [BMRC] has figured out seven routes that incorporate a corridor between Magadi road toll gate to kadabagere. The distance between these two destinations is merely 14kms but it takes 51 minutes to cover the same. This project will boost the realty market of Magadi road once the metro is operational here.