Puravankara Buys Prime Land in Hebbagudi
In a significant move that underscores its commitment to expanding its presence in key real estate markets, Puravankara Limited recently acquired a 7.26-acre land in Bangalore. This acquisition, aimed at developing a luxury residential project, has a gross development potential of over Rs 900 crore and is set to enhance the real estate properties in Bangalore. In this blog, we delve into the details of the acquisition, buying property in Bangalore, connectivity advantages of Hebbagudi, the area’s social and civic infrastructure, property appreciation trends, and why Hebbagudi stands out as a prime investment destination for high rise apartments in Bangalore.
Details of the land acquisition
With this acquisition of residential land in Bangalore, Puravankara plans to develop a high-end residential plot in Bangalore with a saleable area of approximately 7.5 lakh square feet, boasting a potential gross development value (GDV) of over Rs 900 crore. This development is part of Puravankara’s broader strategy, following another recent land acquisition in Mumbai Metropolitan Region.
Connectivity advantages of Hebbagudi
Hebbagudi’s strategic location offers significant connectivity benefits, making it an attractive destination for homebuyers and investors alike. Situated within a 5 km radius of the prominent IT hub Electronic City, Hebbagudi enjoys excellent road connectivity through Hosur Road and NICE Road. The area is well served by public transportation, with frequent BMTC bus services. The upcoming Phase 2 of Namma Metro extending to Electronic City will further enhance the area’s accessibility. These connectivity advantages make commuting to major employment hubs in Bengaluru seamless and convenient.
Social and civic infrastructure
Hebbagudi’s social and civic infrastructure has seen substantial development in recent years, contributing to its growing appeal. The area hosts several reputed educational institutions, including PES University and SFS Degree College, ensuring quality education options for families. Healthcare facilities are robust, with Narayana Health City and Vimalalaya Hospital providing comprehensive medical services. Additionally, Hebbagudi offers a variety of shopping, dining, and recreational options, enhancing the quality of life for residents.
Property rates and appreciation
Over the past five years, Hebbagudi has witnessed significant property rate appreciation, driven by its strategic location and infrastructure developments. Residential plots for sale in Bangalore have seen a steady increase, with current rates ranging from Rs 4,500 to Rs 6,000 per square foot, depending on the project’s specifications and amenities. The rental market is also thriving, with high demand from IT professionals working in Electronic City. The area’s rental yields have been attractive, providing steady income for investors.
Excellent connectivity, robust social and civic infrastructure, and appreciating property rates position Hebbagudi as a highly desirable residential destination. Puravankara’s new project is also poised to capitalize on these advantages, offering luxury living spaces that cater to the growing demand for quality housing in Bengaluru. As Hebbagudi continues to develop and attract investment, it stands out as a prime location for both homebuyers and investors seeking growth and value in the real estate market.
