Bengaluru Transit Infra Projects: Some of the major transit infrastructure projects in Bengaluru, including metro and roadways, will unlock the possibilities for large-scale real estate development across 24 key locations in the city. According to a recent research report ‘Bengaluru Urban Infrastructure Report, 2020 - A Comprehensive Take on Major Transit-Oriented Infrastructure Projects with Key Impact Markets', released by Knight Frank, these infrastructure projects are being implemented under various models at an estimated cost of more than $11.4 billion. According to an analysis by Knight Frank, around 24 locations have been identified to benefit from the transit-oriented infrastructural development in Bengaluru.
These projects will be able to drive incremental real estate development across some of the well-established office hubs as also isolated locations that required public transport connectivity. According to the report, it is estimated that around 127 kilometres of metro and 270 km of road projects are under various stages of construction in Bengaluru. Bengaluru metro phase 2, extensions, and new lines are expected to be completed between the period of 2021-2025. The major road projects, namely, peripheral ring road (PRR), satellite town ring road (STRR), and suburban rail network are likely to be completed after 2025.
As part of the transit-oriented infrastructure projects, the key impact markets in Bengaluru are as follows:
- Electronic City Phase-1
- Electronic City Phase-2
- Bellandur To Marathahalli Belt
- Mahadevpura To KR Puram Belt
“Bengaluru in recent times has emerged as the start-up hub of the nation, bringing innovation and employment opportunities, while making a significant contribution to India's GDP. Sectors like aerospace, IT, biotechnology, manufacturing, e-commerce, and logistics are expected to drive the city's economy in the future. Fast-paced urbanization in Bengaluru has resulted in increased pressure on the existing infrastructure,'' said Rajani Sinha, Chief Economist & National Director – Research, Knight Frank India.
''Enhancement of transit infrastructure in the city through projects like Metro Rail Phase 2, Peripheral Ring Road and Satellite Town Ring Road will improve connectivity and result in significant reduction in travel time to prominent employment hubs. These massive upcoming infrastructure projects will result in huge development potential for the real estate market,'' he added.