Overview of the Airport Area in Bangalore

Historical Impact of Airport Development

Airports in Bangalore have historically changed surrounding real estate. For instance, when Kempegowda International Airport (KIA) opened in 2008, property prices surged in Devanahalli. Land here went up by 86.1%. North Bangalore saw an annual 15-20% increase after KIA.

Upcoming Airport and Its Impact

The new second international airport near Nelamangala will likely affect certain places greatly. Key impacted regions include:

Affected Areas

• Nelamangala: Will likely see immediate changes due to its close proximity to the airport, with property values up due to new infrastructure, residential, and commercial investments.
• Kunigal: Expected to grow thanks to better roads and train lines, leading to business activity growth and higher property demand.
• Tumkur Road: Might witness major developments as main highway. This will elevate logistics and commercial hubs, boosting property prices along this route.

Current Property Market Trends

Property Rates

• Devanahalli: Prices vary around Rs 1000-3000 per sq ft. They have grown 120% over the past 10 years. However, there’s been a dip recently.
• New Airport Road: Starting prices hit Rs. 750 per sqft. Average price for this area’s properties sits at Rs. 10,538 per sqft. This place seems good for both buying and selling.
• Old Airport Road: Flat prices range from Rs 5900-12000 per sq ft. Land costs hover around Rs 8000-14000 per sq ft. Property prices up 26.8% over the last 5 years.

Investment Opportunities

Residential Developments

• Expect more housing demand near Nelamangala, Kunigal, and Tumkur Road due to the airport’s proximity. Get into residential projects like gated communities or affordable housing for good returns.

Commercial Real Estate

• Businesses in logistics, hospitality, retail, and services flourish near the airport or along Tumkur Road. These spots offer prime office space, warehouses, and retail locations.

Land Acquisition

• Expect infrastructure growth and boosted economic activity. It’s wise to buy land for future gains.

Quality of Life and Infrastructure

Accessibility and Connectivity

• Areas near the airport see improvements. This includes better roads and public transport. Plan for Namma Metro Phase 2 near KIA.

Amenities and Infrastructure

• The airport’s close surroundings have good amenities. This includes flyovers, modern roads, and commercial buildings. Areas make for good home and business spots.

PropertyWala's Conclusion

Buying property near the airport in Bangalore is a good idea. There’s an expected bigger rise in value due to improved roads, better life quality, and economic growth. Housing and commercial spaces, notably in Nelamangala, Kunigal, and Tumkur Road, make great investments. Stay updated with market trends and old price data. Pick the right time and place for the best returns and a better life.