Rajaji Nagar is a residential
hub in the north-west of Bangalore, situated close to the established areas of
Yeswanthpur and Malleswaram. Due to rapid infrastructural development along the
Yeswanthpur-Rajajinagar-
Apart from being a
residential hub, Rajaji Nagar boasts of some notable organized Grade-A
commercial establishments such as Brigade WTC and Golden Heights. Because of
its proximity to the central business districts (CBD), Rajaji Nagar is
developing into an ‘extended CBD’ and is being favoured by corporate occupiers
who are looking for alternate destinations close to employee catchments.
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| Mr. Sanjay Malhotra, JLL India. |
Rajaji Nagar has
adequately-developed social infrastructure with schools, hospitals and hotels
available. The general infrastructure is very conducive to modern family life.
Social infrastructure facilities are acting as catalysis for residential
development in the area. The area has gained additional popularity because of
the beautifully-designed ISKCON temple, which is a magnet for international
religious travellers.
In general, Rajaji Nagar is
replete with attractions for end users as well as investors. The two mega malls
in the neighbourhood viz., Mantri Mall and Orion Mall make it a favourable
destination for organized retail that is conveniently juxtaposed to major
residential catchments.
Rajaji Nagar is located about
5 kms from the Yeswantpur railway station. The area enjoys superlative
connectivity to Bangalore’s various business districts. The major connecting
roads are Mahakavikuvempu Road and 8th Main Road.
The Metro project has
enhanced this area’s connectivity to all parts of the city, and the proposed
Mono Rail will improve connectivity to Hebbal Outer Ring Road and BIAL. With
the proposed Mumbai-Bangalore Industrial Corridor, Rajaji Nagar will benefit
from this economic driver and will significantly increase demand for
residential, commercial and Retail.
V Raheja, Purvankara, Brigade
Group, Phoenix Ltd., Pride Group, Ranka Group and Sobha Developers are some of
the notable developers active in this area, with their offering catering mainly
to the mid and high-income buyer segment. The residential supply in Rajaji
Nagar is more or less geared at employees of Bangalore’s burgeoning IT / ITeS
sector.
Rajaji Nagar presents a
favourable investment proposition as it has been seeing consistent annualized
appreciation to the tune of 12% to 14%. With prices ranging from Rs.
8500-10,500 sq.ft, residential properties at Rajaji Nagar command a premium
over many other localities in Bangalore.
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