In Bengaluru, the construction of the Kempegowda International Airport was a game changer for the region and initiated Yelahanka’s metamorphosis from a sleepy little settlement on the outskirts of Bengaluru into a buzzing residential investment destination.
Yelahanka, which is divided into Old Yelahanka and Yelahanka New Town, is home to many defence establishments such as Central Reserve Police Force (CRPF) training school, Indian Air Force’s Air Force Station and Border Security Force (BSF) Training Centre.
Yelahanka enjoys excellent social infrastructure
including educational institutions, healthcare facilities and entertainment options - and Kere Lake, Allalasandra Lake and Puttenahalli Lake. This area has an excellent connectivity quotient and is accessible from various parts of Bengaluru. The arterial roads that connect Yelahanka with other prominent areas of the city are National Highway (NH) 9 towards Doddaballapur and NH 44, which provides access to Devanahalli and the city.
Between 2013 and Q1 2018, a total of 8,700 units have been launched in Yelahanka. The highest supply comprising 2,500 units was registered in 2015, after which the new launch supply has been declining marginally till date. Of the 3,300 units which are stacked in the unsold inventory, around 2,900 units are currently under construction.
Yelahanka's residential market is dominated by mid-segment properties (Rs 4 million - Rs 8 million) accounting for 70 per cent of the new launch supply since 2015, followed by 15 per cent of properties in the Rs 8 million - 15 million budget range.
Property prices in Yelahanka have appreciated by around 9 per cent in the past two years, with the average price as of Q1 2018 being Rs 5,100 a square foot.
The writer is head – research, ANAROCK Property Consultants