Property Price Trends Across Devanahalli

Until quite recently, Devanahalli was just a quiet town located to the north-east of Bangalore, 40 kilometres from Bangalore. All this was changed with the establishment of the Kempegowda International Airport 5 kilometres from this town. Suddenly, Devanahalli was thrust into the limelight and shot to prominence as more and more commercial establishments began to crop up in the neighbourhood. The development of the international airport led to the establishment of the Devanahalli Business Park and two other IT parks in the vicinity. Currently, the BIAL investment region, tipped to be the largest IT region in the country at 12,000 acres, is under development here. There is an aero SEZ, a financial city, and a science park in the vicinity and numerous other IT parks and corporate offices under development. This development has led to rapid growth in residential real estate in the area, which has also been further fuelled by the steady development of infrastructure of the neighbourhood in terms of medical institutions, educational institutions, and also avenues for shopping, recreation, and entertainment. Prices in the neighbourhood have been steadily climbing owing to the interest of real estate investors and currently the average range value is Rs. 5000 plus per square foot in the area with the upper range value being Rs. 6000 plus and the lower range value being Rs. 4000 plus for July to September 2021. Every major real estate development company has established their projects in this neighbourhood and several projects are under development here, which will cause changes in this price trend as time passes. This locality is set to develop further with more and more investors viewing the area favourably as a long-term investment option and it is expected that the prices here are only set to increase further. This, however, will not dampen the enthusiasm of investors as Devanahalli will continue to figure high on list of the real estate destinations of Bangalore for the near future.

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