Bengaluru is being driven largely by the ITITeS industry and Electronics City is the nerve center of the information technology-driven economy

> EMPLOYMENT HUBS:

Major companies present in the area are Wipro, Tech Mahindra, Hewlett-Packard, L&T Infotech, Infosys, HCL Technologies, Siemens, Patni Computer Systems, CGI, Siemens, Tata Consultancy Services, Genpact, Intel and many others. The locality is well-connected to the Kalyani Tech Park and ITPL.

> PHYSICAL INFRASTRUCTURE:

Physical infrastructure is fast developing in the locality. The 8lane Ring Road is aimed at decongesting traffic in the entire corridor. The Namma Metro line, which is underconstruction from RV Road to Bommasandra, will pass through the Electronics City.

> HIGH DEMAND:

Demand for flats, both, rental as well as buying, is always high, backed by IT professionals and other employees working in the locality.

> COSMOPOLITAN OUTLOOK:

No other location of Bengaluru has as much cosmopolitan outlook as the Electronics City.It is one of the biggest industrial parks in the country, spread over 332 acres and comprising of three phases.

> CONNECTIVITY TRACTION:

Electronics City is well-connected to the city centre, via the Hosur Road. It is also connected to other parts of Bengaluru, such as HSR Layout, Kammanahalli, Bommanahalli and Bilekahalli. Electronics City is strategically connected to the Kempegowda International Airport as well that is about an hour's drive.

 
 
 
This historical town housing the airport is a thriving hotspot for apartments, offices, villas and senior living homes in gated enclaves

AIRPORT PROXIMITY:

The nondescript village of Devanahalli in Bengaluru Rural district, shot into prominence with the airport coming up in its vicinity. Old localities around Devanahalli town and Doddaballapur Road are witnessing large-scale development of residential property, holiday resorts and hotels. The planned Peripheral Ring Road (PRR) and the widened roads in the vicinity have spurred commercial office spaces, hospitality and healthcare.

A RESIDENTIAL HUB:

For the frequent fliers employed in the tech parks around Hebbal and Hennur Road, and those working in the swank offices along the IVC Road and Yelahanka, living near the airport is convenient. Twobedroom units at Devanahalli are available for around Rs 50-70 lakhs, while plots are in the range of Rs 1,5003,200 per sq ft depending on the amenities offered.Premium villas are priced at Rs 1 crore and above.

READY FOR SENIOR LIVING:

Besides the airport, the many hospitals on Bellary Road leading to the airport have made living here safe and comfortable for senior citizens, with several established developers setting up exclusive senior living and retirement homes in the vicinity.

KANCHAN GOGATE
Times of India 22-09-2017 

It's time to reflect upon the implications (and repercussions, if any) of RERA on the real estate market and acquaint the home-buyers with its recent developments

Known as the one of the most reformative Acts to date, Real Estate (Regulation and Development) Act, 2016, (RERA) is gradually getting implemented across the country. According to experts, it is the most powerful Act that will streamline things and bring in much-needed transparency. July 31, 2017 was the last date to register ongoing projects with the respective state regulators.

As of now, around 26 states have notified the rules.Maharashtra, Madhya Pradesh and Karnataka were the first ones to implement the rules on May 1 as per the centre's notification.Telegana, Himachal Pradesh and Goa have recently notified while Kerala, Tripura and West Bengal are yet to notify.An official from the union ministry of housing and urban affairs, says, “With land being a state subject, the centre has prepared guidelines. The states are expected to follow them while preparing their draft rules.Some states followed the deadline while a few asked for extension.“

EXPERT VIEW:

DILIPKUMAR GANDHI, CHAIRPERSON, THE COMMITTEE ON SUBORDINATE LEGISLATION, INDIAN PARLIAMENT:

Committee had the crucial job of ensuring RERA implementation. We looked at the draft rules framed by the states and also the extent at which they were in line with centre. The states, which deviated, were asked to reframe rules and follow the central policy. Barring a few, several states have either implemented or notified RERA rules.

LEENA MUDBIDRI
Times of India, 29-09-2017  
 
Residents and commuters are looking forward to the 2.4 km flyover that promises to decongest the roads and streamline traffic in the next two years
While road-widening projects have drawn criticism from citizens, the civic authorities have been revisiting old project plans to decongest the roads. The flyover from Koramangala to the Indiranagar-Koramangala Inner Ring Road (estimated at Rs 200 crore), which was first proposed in 2014, is finally taking shape.

The project kickstarts...The four-lane bi-directional 2.4 km long flyover, which was planned twice once as a part of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme in 2014, and again in the State Budget of 2015 was put on the backburner due to the paucity of funds.With traffic turning out to be a major issue for commuters using the Koramangala 100-feet road upto Domlur, Bruhat Bengaluru Mahanagara Palike (BBMP) has launched the project in full swing. Speaking exclusively to Times Property, K T Nagaraj, superintending engineer road infrastructure, BBMP, said, “The design of the flyover is ready and the soil testing along the route has begun. We will begin construction work in a month.“

The flyover corridor will connect Kendriya Sadan in Koramangala 2nd Block to the Ejipura Junction on the Inner Ring Road (IRR), thus soaring over the 100 feet Mahakavi Vemana Road. Covering a total area of 50,000 sq ft, it will be 5.5 metres high and 7.5 metres wide.

A busy stretch: The 100 feet wide Mahakavi Vemana Road stretches from the Madiwala underpass to the Sony World signal, passing through the choked Water Tank junction at Koramangala, in its route. It is the major nerve centre where traffic from Electronics City, BTM Layout, HSR Layout, Domlur and Old Airport Road converge, thus creating a chaotic mess. BMTC buses mostly use this junction to deboard their passengers, leading to bigger traffic jams. With St John's Hospital located next to this busy junction, ambulances often get ensnared in the traffic snarls.Residents too of Indiranagar and Domlur commuting to offices, banks, schools and colleges located in Koramangala, use the IRR, thus leading to the clogging of this stretch.

Easing traffic: On any day, the traffic on Koramangala 100 feet road crawls bumper to bumper, thus taking 45 minutes to an hour to complete two kms. This main road provides vital connectivity for those travelling from Electronics City and Sarjapur Road towards Indiranagar, to reach the airport. Presently, the route passes through seven traffic junctions, with three of them being high traffic density ones at the Koramangala Water Tank, Sony World signal and Ejipura junction. The flyover promises to ease the traffic congestion on this route and cut travel time by at least 30 minutes.The up ramp will start at St John's College, towards the IRR, and an exit ramp near the Krupanidhi College for vehicles moving towards Sarjapur Road. This means, the traffic from Electronics City and BTM using the Sarjapur Road stretch passing St John's Hospital, and usually taking the left turn at the Koramangala Water Tank signal, will now go up the entry ramp and use the flyover. “This will reduce traffic by at least 40 per cent,“ the BBMP official shared.

 
 Rental Management Companies (RMCs) are stepping in to ensure professionalism and easy business for both, developers and potential renters
The growth in nuclear families, high urban migration and an evolving mind-set towards rentals has resulted in a rapidly evolving rental market.

THE NEED:

Post-demonetisation and GST, the overall sales in the real estate market has taken a dip resulting in a supply surplus. To generate revenue, developers have started targeting Rental Management Companies (RMCs) to help them rent their vacant units. Denis Jackson, business consultant, says,“They bridge the gap between property owners and tenants by matching their requirements and budget.“

INCREASING DEMAND:

Srinivasan Gopalan, group CEO, Ozone Group says,“While renting a home, buyers not only look at the affordability but a complete package that offers them a luxury living with all amenities in place.“

ALL UNDER ONE ROOF:

These companies offer a number of services from tenant selection, rent collection, repairs and maintenance, to vendor management, administrative support, facilities support, bookkeeping and ongoing inspection. Shubika Bilkha, business head, The Real Estate Management Institute (REMI) says, “Internationally, it is a common practice for large developments to appoint RMCs and have a property manager on site on their premises. Some of the luxury and ultra-luxury developments in India have hired these companies for property management.“

Parth Mehta, managing director, Paradigm Realty says, “They are boosting the business thereby benefiting the developers. There is always a technical gap between the developer and a buyer, and RMCs provide the details of construction and other amenities.“