The JW Golf club held an annual golf tournament between 22-24 Feb 2013, featuring the Eagles. The group consists of 14 golfers under the leadership of Dr Ambreesh, a superstar turned Member of Parliament, Mandya (Ex), who are permanent members of JWGC. With Hebron sponsoring the Eagles this year, the tournament has come to be known as Eagles Hebron Cup 2013.
The Hebron Cup Golf Tournament debuted on 15th December, 2012 in association with Coorg Golf Links. This annual tournament will be held for another ten years at Coorg Gold Links, and will feature participants from Coorg Golf Links as well as other associated golf clubs.
Team Hebron visited Baal Mane located on Tumkur road on the occasion of International Women’s Day to celebrate with the girls in the Home and make them feel special on this joyous day. Hebron donated clothes, books, stationery so on and so forth to the girls in the Home. The very talented girls of Baal Mane performed a cultural folk dance which is extremely entertaining and pleasurable. The whole experience was overwhelming and highly rewarding.
This activity reiterates Hebron’s continued commitment to give back to the society and create a positive change.
Hebron Properties presents The Times of India International Folk Festival in Bengaluru, a city that stands for its rich cultural heritage and intellectual populace. The festival set on serene and picturesque lawns will be taking everyone through a kaleidoscope of folk and cultural extravaganza. It is all set to showcase folk-art forms from every part of India from the Yakshagana, Gombeyaata, Purulia Chau, Satriya dance, Mallakhamb to Waee singers of Kutch, Gujarat and Mooralala Marawada, Sufiana Qawwali, OttanThullal and much more. The International folk will consist of Countries like Indonesia, Norway & Sri Lanka which will showcase panel discussions, talks, craft exhibitions and a wide spread of Indian cuisine. Eminent artists like Jnanapeetha awardees like Dr. Chandrasekhar Kambara and Dr. Girish Karnad, along with a royal family of Indonesia will participate in this prestigious festival.
Hebron Properties Pvt. Ltd. in association with Sir MVIT College, Bangalore today on the occasion of Independence Day executed a unique initiative of cleaning up the road from NH 7 right upto the college campus.
The employees of Hebron Properties, students, workers, passerby's and volunteers joined the cleaning spree and did their bit to contribute to a cleaner society. The activities undertaken were:
Cleaning of the road & dividers ,
Removing weeds ,
Sweeping the road ,
Protecting the trees on the divider by putting tree guards and
Painting electricity poles.
Hebron Enclave, the flagship project of Hebron Properties Pvt. Ltd. has won CRISIL's 5 Star Rating for its Ultra Luxury Architecture, Construction Guarantee, Lifestyle Amenities, Project Legal Qualities and Financial Quality.
Hebron Properties presented the second edition of The Times of India Literary Carnival in Bangalore.
The Carnival encapsulated books, authors, panel discussions, debates, music and a lot more. The who’s
who of Bangalore attended the event making it a grand success. The Carnival also showcased New
Voices and Iconic Authors and witnessed book launches, writing contests, jazz concerts and much more.
Distinguished artists such as Sudha Murthy, Girish Karnad, Anjum Hasan and Samuel Gosling were
present celebrating words, music and wisdom.
TV9 Sweet Home Realty Expo 2014 was one of the many property shows in which we took part in the month of January 2014. The show was inaugurated by Sandalwood Star Kiccha Sudeep and witnessed tremendous number of footfalls from all parts of Bangalore.
A one-of-a-kind initiative was taken up by us this month, a portrait of our flagship project “Hebron Enclave” was displayed in the week-long exhibition that attracted connoisseurs of art. The exhibition was inaugurated by Dr. Jayamala, Indian Film Actress/producer and Ms. Bhavana, Indian Film Actress & Bharatnatyam dancer. Take a sneak-peak into the event.
Hebron Properties Pvt. Ltd. hosted the maiden Hebron Connoisseur Awards 2014 on December 15th 2014 at The Leela Palace, Bangalore along with Gulf Connoisseur – the premier luxury magazine from the UAE. Hebron Properties believes in awarding the Leaders – the 1% Club for their contribution to the society. These awards went out to the most influential & eminent personalities in India, for their exceptional contribution and achievements. As the meaning of Hebron is Elite Alliance, the alliance with Gulf Connoisseur team to identify and award the leaders is an initiative to salute and respect the change makers.
Hebron Properties Pvt. Ltd. is actively involved in propagating awareness on various social issues in the society. Given the alarming instances of Child Abuse in India generally & Bangalore in particular, Enfold Proactive Health Trust in association with Hebron Properties Pvt. Ltd. hosted a fund raising Live Musical Extravaganza, Compassion Unfolded, featuring Stephen Devassy & Vijay Prakash at Indiranagar Club on November 15th 2014 in aid of Enfold’s Laksha Makkalu Suraksha Project to reach 1 lakh underprivileged and vulnerable children in government and aided schools, orphanages and shelter homes.
Hebron Properties Pvt. Ltd. hosted the 6th edition of Namma Bengaluru Awards 2015. Hebron Properties joined hands with Bangalore to celebrate the unsung heros of the Garden City. A total of 14 categories were scheduled in which people from multiple verticals were awarded for their extraordinary contribution to the society. The objective of this event was not only to award them but also support citizens who create sustainable and impactful improvements to better the city in their own way. Hebron also presented the award to Mr. Sean Blagsvedt under the category of Foreign Resident in Bengaluru and Mr. P.G. Bhat under the category of Citizen Individual.
Hebron Properties Pvt. Ltd. on account of World Environment Day planned an activity with the objective of spreading awareness on environmental issues and protection. The event was called "Plantdatory"
The employees of Hebron Properties along with several VIP and special guests graced the occasion to support the cause and contribute to a cleaner society. The activity undertaken was primarily planting of 800 trees in the township of Hebron Enclave.
As an extension of Project Plantdatory at Hebron Properties, we have invited the most reputed schools in and around our signature project, Hebron Enclave. With the objective of spreading awareness to school children so that they can take it forward was our primary aim of this activity. This was our attempt to cultivate positive emotions and responsibilities on protection of the environment through hands on activities among the younger generation.
Date December 2014
If You Missed the Ticket to Phase I, Phase II Is Here Exclusively For You The 1% Club by Hebron Properties
Date September 2014
Mind where you put it
Go luxe with Hebron
Date June 2014
The Reality of Realty
Date April 2014
Published in Khaleej Times
Date March 2014
Published in Estate World
Published in C&D Infobank
Date February 2014
Published in Project Reporter
Date January 2014
Published in Deccan Herald
As we step into 2014, there is promise of something new and exciting to look forward to in the real
estate sector. With the introduction of new legislations in 2013, the industry is all geared up for a
progressive year, writes Bindu Gopal Rao
Year 2014 is being touted as the year of recovery for real estate. The end users will be in the market and the
demand for mid and mid high segment will start improving from the second quarter of the calendar year. Anuj
Puri, Chairman and Country Head, Jones Lang LaSalle India, says, “The lukewarm absorption of office spaces
is likely to remain until uncertainty over some of the current headwinds dissipates. The US federal reserve’s
decision on tapering (due early next year), the Indian general elections and the RBI policy direction (based on
the inflation growth dynamics) are key factors to look out for in the coming six months.”
Again the sentiments continue from the last year as a spill over. Venkat Narayanan, Executive Director —
Finance & CFO, Prestige Group says, “Based on the last three quarters of 2013, when the Bangalore market
outperformed in terms of new launches and sales velocity, we are certainly hoping that the trend continues.
Of course, interest rates will continue to be a key factor.” The presently cautious market sentiment is likely to
continue, but the second half is likely to witness a gradual revival in absorption.
Manoj Goyal, Director, Raheja Developers Limited, opines, “We expect a growth in the prices of real estate by
around 10% on year on year basis. It is also expected that the capital market regulator, SEBI, will notify the
guidelines for Real Estate Investment Trusts (REITs) in India. This will help small investors to invest in the real
A paradigm shift today is the preference towards exclusive and premium offerings. “Luxury housing is becoming a fad mostly because of the awareness created on the standard of living and also the role of banks in being liberal in providing housing loans. This segment has been a huge catalyst in expediting the growth of the real estate sector,” says Preenand Premachandran, CEO, Hebron Properties Pvt. Ltd.
The emergence of Tier II & III cities as an investment destination with good support infrastructure is expected to be a boost to this realty sector. According to a recent survey, Bangalore is estimated to have accounted for a record 30% share of the 1.32 lakh units launched across the top eight cities in India this year, which itself proves the positive upward growth.
“The New Year will witness the evolution of investments in real estate for both residential and commercial purposes. While retail units and the ‘mall’ culture will sustain its popularity, the hospitality industries will also gain ground in India,” says Deepak Dahiya, Managing Partner, Legal Imperials. Adds Sumit Jain, CEO and Co-Founder, CommonFloor.com, “Ready-to-move-in or soon-to-be-ready properties will be in demand than under-construction properties in 2014.” Kumar Bharat, Director, BCC Infrastructures, Bharat City says, “Precast or prefabricated construction technology is the next big thing which will not only drastically reduce construction time, but also improve on quality.”
Residential market is fuelling demand and 2014 will be a year for the residential sector. “The year will be great for genuine property seekers and if home buyers have the purchasing power, they will be able to drive a hard bargain this year. It may not be a good year for investors and speculators as exiting in 12-18 months may be difficult. In the commercial sector, supply will be higher than demand and 2014 will not be good for returns,” says Aditya Verma, CEO, Makaan.com.
According to a recent research report by Makaan.com entitled Property Forecast 2014, property market in 2014 will be driven by end users and residential property prices will either stabilise or will appreciate marginally. Also, apartments will be the preferred choice of home buyers. Location and price will be the top purchase considerations in 2014 and high property prices will be the main hindrance for home buyers in 2014.
Says Sachin Sandhir, MD, RICS, South Asia, “Homebuyers will have an upper hand during transactions. It is expected that the number of launches will increase as the year progresses. This would give more options to first time homebuyers.”
Viswa Prathap Desu, Vice President — Sales & Marketing, Brigade Enterprises Ltd adds, “There will be an increased demand expected for A Grade Office Space, which will have a direct correlation to the residential sector in Bangalore. We expect to see good development in the North and East Bangalore regions as these are the locations that will see good growth in the years to come.”
In the current scenario, which is defined by low liquidity and increasing pain among developers, consolidation is bound to be a natural consequence. The market is currently not conducive for smaller players. While there is a sort of saturation in the Tier 1 cities, the good news is that Tier II cities have started growing with the IT and industrial sectors investing in such places.
“The notion that Indian real estate is expensive is based more on the cost of undeveloped land, which is becoming a scarce commodity, than finished residential or office space, which is still available at reasonable prices in most places,” says Shishir Baijal, Chairman and Managing Director, Knight Frank India.
The real estate business has, up to now, been a fragmented business. “That is because, in most cases, the ownership of the land is the key determinant of the project, and not anything else. That trend is fast changing. Due to the subdued environment in the last two years, access to capital has become difficult, and only those developers, who are well-capitalised, and are able to provide comfort in terms of delivery to financiers, have been able to attract capital and customers.
We expect that going forward, this trend, coupled with customers becoming more aware, vocal and demanding, the smaller, unproven developers will yield way to large developers,” says Lalit Kant, Head - Real Estate, Arthveda Fund management.
The realty market has seen several price swings and metros have witnessed exorbitant rates. Opines B R Ravindra – Director, Pride Group, “Prices in the high-end residential sector have been stagnant for the last two years and we do not expect any change in the same, however, the prices for the mid segment residential sector has to show an upward trend because of rate consolidation, and the increase in the cost of construction and land price is being absorbed by the builders so far, as no escalation clause has been applied.”
Shreekant P Shastry, Vice President-Business, Ozonegroup explains, “2013 saw the ticket sizes between Rs 50 lakh and Rs 75 lakh doing well. This trend is expected to continue. Depending on the economical situation, larger ticket sizes may also see an upward trend.”
Prices depend on inflation and the cost of construction. According to Ravindra Madhudi, Executive Director, Samruddhi Group, “When developers come up with huge projects on the outskirts, there might be issues like water scarcity or other problems which might get difficult to deal with in a huge project, but in small units where consumption is less, problems can be dealt with more quickly.”
The residential sector has weathered rough tides in 2013. However, the perennial demand keeps it afloat. “Prices are likely to increase by a moderate 10-12% for this sector. Developers will have to battle high costs and high inventory levels, allowing them only a slight increase in prices. Commercial space in the medium price market will have to face high vacancy rate, but quality space in the high rent arena will be up for grabs due to the imbalance between high demand and limited supply,” says Advitiya Sharma, the co-founder, Housing.com.
The change in RBI guidelines on the 20:80 funding has had a serious impact on builder cash flows. “Most builders have highly leveraged balance sheets and the slowdown in demand has led to a serious pile up of inventory in most cities. In 2014, builders sitting on stockpiles of unsold inventory could be forced to lower prices to sell. Pricing being the key issue, buyers have been showing a preference for newly released stock which come with attractive pre-launch and launch offers,” says Sunder P, CEO & Co- Founder HomeShikari.com.
The new Land Acquisition Bill, introduction of the Real Estate Regulation Bill, imposition of VAT on real estate, stamp duty on joint development agreement, equivalent to sale of property, etc., have been introduced in 2013. In the last three years, where not much support has been extended by the market or the policy makers, there is a strong optimism that 2014 would be a turnaround year. “The year ahead will pave the way for a smooth ride. The sector has weathered the crisis post global slowdown and it is time to leave the worst possible behind.
The government has to heed to the legitimate needs of the sector if they have to revive the economy before the general elections. So, the next Union Budget 2014-15 is eagerly awaited for the beginning of the revival of fortune within the sector, taking cognisance of the fact that it is the real estate in general, and housing in particular, that can put the economy on track,” says Pankaj Srivastava, COO, Maitreya Realtors & Constructions Pvt. Ltd.
Rohit Gera, MD, Gera Developments concludes, “I hope that we see the trend of eliminating corruption from the real estate sector in 2014. There should be a significant increase in transparency in the business, and reduction in costs in the process, and an overall increase in the efficiency in the real estate sector.”
Date December 2013
Published in Construction Industry Review
Published in The Hindu
'Some steps to revive the market'
For property owners it is always better to go in for an A-Khata property, advises market expert Preenand P., in
an interview with Ranjani Govind
The State Government last month approved registration of 'B' khata certificate (title deeds) buildings
constructed on revenue land in the Bruhat Bangalore Mahanagara Palike (BBMP) limits.
The Cabinet permitted the BBMP to issue 'B' khata to buildings/houses on revenue land and also provide
electricity, water, drainage and other facilities, an important decision, all set to bring in nearly Rs. 1,000 crore
revenue to the government. Minister for Law and Parliamentary Affairs Minister T.B. Jayachandra had said the
decision would allow the re-sale of property and boost the real estate market in the city.
Market observers in the city feel Bangalore has nearly 25 lakh properties which have been 'deviated' in their
building methods. But apparently the confusion prevalent in the system (of what makes up the deviation that
decides the penalty charge) is something the entire process would be subjected to. The BBMP has however
made clear that 'B' khata would be issued only to existing buildings.
Ironically though, after a month of this announcement too, the registrations that were expected to pick up by
a huge percentage, is not yet happening, according to a government official. Although the entire Khata-scene
is ridden with rules and matters that make the whole issue a hazy one, some experts in the field say that the
government has made it clear that property owners can obtain 'A' khata by regularising their constructions
under the Akrama-Sakrama scheme by paying penalty to the government later.
The Cabinet has decided to reply to Governor H.R. Bhardwaj on the Karnataka Land Revenue (Second
Amendment) Bill, 2012, also known as the Akrama-Sakrama Bill, which was returned to the government earlier
for further clarifications. It may be recalled that the Bill was passed in both the Houses of the State legislature
during the previous BJP government. The Bill aimed at regularising construction of houses on revenue land in
urban areas across the State.
The Hindu-HABITAT spoke to industry expert Preenand P. to understand the prevailing Khata scene and make
it more comprehensible to property owners.
From the B Khata not being a valid legal paper for claiming ownership to the Government approving the
document for the registration process before Akrama-Sakrama falls into place, what would it mean to property
owners/buyers right now?
Post the process for assessment of property tax, the BBMP found out that there were several unauthorised
constructions in the city as they were built on land without proper approvals. In such cases the property
owner before construction of the building should have followed a process where he was involved with a layout
approved by the BBMP or BDA or any other regulatory body which includes several other civic amenities such
as roads, hospitals, common area, public parks so on and so forth.
We feel that only 5% of the sites in Bangalore are eligible to apply for an A-Khata because of minimal deviation
which can be regularized. Constructions with minimal deviation and which have followed the norms set by
regulatory bodies to a certain limit are only eligible for regularization, as it is seen now, the remaining will be
titled as B-Khata itself.
Despite what many think, B-Khata is not an entitlement to the property, but simply an acknowledgement
that tax for the said property is being paid to the Government. It is not a 'title deed,' it is just an identification
entered in a register titled "B" and hence the name B-Khata. B-Khata is not considered as a valid Khata
For buyers/property owners it is always better to go in for an A-Khata property, because a person with B-Khata
is not entailed to have a building license, trade license or loans from banks or any other financial transactions
which makes it difficult for further action. It is important to possess a Khata document for any sale, registrations
or transferring of property to others as it contains important information such as property details, name of the
owner, size, building, location and others. With B-Khata registration of property, a person will not be able to
avail loans from nationalized banks. Therefore, it is suggested that the buyer invests in an A –Khata property
with all clearances to avoid future financial hurdles.
What are the advantages for a government in this?
It is not just about revenue, it can also be a helping hand for people to actually rectify their mistakes in their
construction, to a very large extent. Yes, property that comes under the B-Khata results in good revenue for
the Government, which may be used for various development activities in the city.
This revenue accumulation will enable infrastructural development and encourage resale of sites/properties
and give the sector a new beginning.
What is the risk involved for a buyer/ end user in doing this? The Akrama-Sakrama is anyway round the corner
for paying of penalty and regularisation?
As of today, B Khata is an invalid title, however certain property owners with minimal deviation obtaining a B-
Khata can be relieved as the Akrama – Sakrama scheme will be in place soon according to the Government.
House owners can now regularize deviations in both commercial and residential properties by paying a
The scheme allows regularising buildings with setback area or floor area ratio, however encroachments will
continue to be illegal. For instance, buildings on footpaths, or on any Government property, public parks and so
on will be at a risk of demolition.
Residential buildings with irregularity up to 50 per cent and commercial buildings up to 25 per cent will
be permitted regularization according to the Act. Depending on the percentage of irregularity seen in the
residential and commercial, a penalty charge is worked out for regularization. The penalty amount is yet to be
decided by the Government.
Is Karnataka the only state which has come up with a B Khata?
Property regularization is noticeable in most of the Indian states, it is only named differently. It is important to
regularize sites, be it in any part of India because the Government provides necessary infrastructure such as
water, electricity and sewage to the building once regularized. Moreover it also sees a price appreciation as it
comes under the legal norms.
Published in Construction World
With over nine years of experience in real estate, Nikhil Isaac, Marketing Head, Hebron Properties, in the multi
facets of real estate business, has covered a plethora of assignments across the industry. In the past he has
been instrumental in conceiving and executing many award winning innovations. He is very passionate about
the concept of sustainable development and aims to be the change agent in the industry in the future. With his
unique educational background and expertise, it is much easier to steer the techno-commercial vertical of a
boutique real estate brand – which he aims to do in Hebron Properties.
Date November 2013
Published in Estate
Why I adore Real Estate…
I am passionate about real estate because of the number of growth and exposure opportunities it holds. There
is always a lot going on and to know and learn about things happening in the industry motivates me. Unlike
other products, we at Hebron feel our creation stands out and makes a difference; it is a home you can make a
customer touch and feel, which in itself is a legacy.
l also believe that the industry will see tremendous growth over the next few years, hence giving us an
opportunity to initiate and create new avenues and concepts for our customers.
The vision I have set for myself….
The only vision right now for me is to make Hebron, India's most successful and premium developer and give
my customer the best product.
The kind of education required in Real Estate…
Preferably an MBA Course with specialization in real estate management comprising of the basics of the
industry such as, principles and practices, property management, including planning and site management.
One thing I would like to accomplish…
I would like to accomplish benchmark concepts in all our future endeavors, be it residential or commercial
projects. To create sustainable green structures coupled with creative architecture and have projects in multi-tier cities
in India & abroad.
The best move that I made in my life…
The biggest and one of the most challenging shifts that I made was to move from Education to Real Estate
which resulted in much more growth opportunities for me. Hebron, and everything that followed, was one the
I am proud of….
I am proud of my team; they are a bunch of hardworking, sincere and fun loving people. I enjoy watching them
grow and work towards a common goal that we set at work. At the end of the day, they are the ones I owe it all
The project that I admire….
Hebron Enclave is very close to my heart, we have put our heart and soul into it and seeing it grow and
develop gives me immense pleasure.
I compete with…..
I compete with myself to bring out the best in me.
I am happy about…
Presently, I am happy about everything. However, I am most happy about creating innovative concepts and
homes for my customers. I am happy that we are a part of their dreams of building a home.
Success to me is….
Success to me is to dream big and have a set of goals. Experience is one of the biggest teachers in life. It
takes you to places and teaches you the hard way, but eventually the learning remains forever. So dream big
to achieve big.
One support that I am thankful for….
I have been lucky to gain the support of my close friends and family and I am thankful to each one of them.
One place that I would love to be at …
I would love to be in the Himalayas, for its beauty
My ideal home is….
My ideal home would be Hebron Enclave
One philosophy that I swear by…..
As you sow, so shall you reap. Whatever happens in life is a result of your actions.
The book that guides me is…..
I love to read, currently, I am reading the "Power of Now" by Eckhart Tolle.
In the Indian scenario, Ratan Tata and Internationally I follow Warren Buffet.
Date March 3, 2013
Bangalore – Based Hebron Properties, the real estate arm of Koshys Group, has launched its luxury residential project, Hebron Enclave, near T.C. Palaya in K.R. Puram, According to a release from the group, "the project brings to the city the 'Great Australian Living' concept with large backyards and open spaces" Hebron Enclave 65 luxury and six super luxury bungalows spread over 11.5 acres.
The company has total land of 16 acres at the site, and the rest would be developed in the second phase.
Said Sathis Koshy, MD Hebron Properties, "The super luxury segment is seeing a good traction in Bangalore. Data available from industry analysts point out there is a good momentum even in the price band of Rs 8500 per Sq. Ft. and above. Erstwhile Bangalore was all about sprawling bungalows in the lap of lush greenery. We are returning to the old world charm, in modern settings"
The Hebron Enclave will have homes in two categories – Business class and Aristocratic bungalows, while the business class homes will come up on a 3300 sq. ft. plot with over 5100 sq. Ft of build – up area, the larger Aristocratic bungalows will offer over 7000 sq, ft of build up space on 6300 sq, ft plot.
Some of the amenities that each home comes with are gearless elevators, Jacuzzi, a sun deck, a separate study / office area in the second floor of the bungalow, and kitchenette space in the master bed room.
Tiled stone walls, italian kitchens, parquet flooring in bedrooms and kohler bath fittings are some of the other features, according to the release.
Published in DNA(Property)
Bangalore-based premium real estate developer Hebron Properties, launched its ultra-luxury residential project, Hebron Enclave, near T.C. Palya in K.R. Puram in Bangalore. The project inspired by the 'great Australian living' concept, seamlessly fuses the indoors with the outdoors.
Hebron Enclave offers 71 'Australian Bungalows' - 65 luxury and 6 super luxury Bungalows, spread over 11.5 acres. The company has a total land of 16 acres at the site, and the rest would be developed in the second phase.
Speaking at the launch, Preenand Premachandran, CEO, Hebron Properties, said, "Hebron Enclave brings to Bangalore Australian living with Indian aesthetics. The IGBC platinum pre-certified project, is the first of its kind in Bangalore, and offers a lot of open spaces to residents."
The Hebron Enclave offers two categories of housing - business class and aristocratic bungalows. While the business class homes will come up on a 3,300 sq.ft. plot with over 5,100 sq.ft. of built-up area, the larger aristocratic n=bungalows will offer over 7,000 sq.ft. of built-up space on a 6,300 sq.ft. plot.
Some of the amenities these homes come with include, gear-less elevators, jacuzzi, a sun deck, a separate study/office are and a kitchenette space in the master bedroom. Besides, tiled stone walls, plush high end Italian kitchens, parquet flooring in bedrooms and heavy duty Kohler bath fittings are some of the USPs.
An important feature of the enclave will be a water creek in the campus with a jogging track around it. Other amenities include a club-house with multi gym, swimming pool and kiddy pool, basketball court, indoor badminton court, central laundry, a mini mart, children’s park and play area.
Published in The Times of India, Bangalore on November 22nd, 2012
IT, Biotech and Aerospace Are Driving the Realty Boom in Areas, Says Knight Frank
Anshul Dhamija TNN
Bangalore: Hebbal in north Bangalore and K R Puram in the east have emerged as the top residential destinations to invest in.
In an investment advisory and research report put out by global real estate consultants Knight Frank, in the five year period between 2013 and 2017, Hebbal and K R Puram are expected to see an average price appreciation of 94% and 91% respectively. These two destinations are on Knight Frank’s list of top ten Indian destinations to invest in.
Ram Chandnani, deputy MD for South India in CBRE, another global real estate consultancy firm, said that Sarjapur-Outer Ring Road and Whitefield areas are also promising, and would see a price appreciation of over 70% in the next five years.
The Knight Frank report studied various micro markets across the country based on parameters such as employment, physical infrastructure, connectivity to important locations, access to social infrastructure, planned development, proximity to premium office spaces and land availability. Price appreciation in micro markets was calculated based on future office space demand and absorption levels.
The report states that demand for office space in Bangalore in the next five years would be 44.4 million sq. ft. driven by the IT/ITeS, biotech, and aerospace sectors. Of that, 60% would be in the North and East corridors of the city, close to Hebbal and K R Puram.
In Hebbal, the stock of residential apartment units in 2007 was just 300, which in 2012 has risen to about 1,800. That’s a growth of 500% in five years. Similarly, K R Puram has seen a 200% growth in inventory of apartment units, from 2,000 in 2007 to 6,000 as of September 2012.
"These two markets are sun-rise areas due to various reasons, the most important being connectivity to arterial roads and proximity to business clusters," said Prashanth Sambargi, partner at property brokerage firm Mars Realty.
Knight Frank says that by 2017, the average price realization in Hebbal would touch Rs 8,230 per sq. ft. but would still be 11% less than the price realization seen in the nearby RMV/Sanjay Nagar. The average price realization at K R Puram is estimated to touch Rs 6,200 per sq. ft. Whitefield, which is a nearby micro-market, would command a higher price of Rs 7,370 per sq. ft.
The villas are priced between three crores rupees and five crores and analysts expect prices to trend 50 percent higher on completion
Chandani of CBRE said demand for residential units in Sarjapur- "Outer Ring Road and Whitefield have been robust in the last five years, reporting a price appreciation of 100% and 70% respectively." The residential climate in both these micro markets has been spurred on by the continuing development of business parks and IT SEZ zones.
However, Sambargi of Mars Realty said Bangalore was like a balloon growing in all directions. "Today one part of the city may look up, tomorrow it’s another part. Hence it is hard to predict the future as the real estate landscape is ever changing," he said.
Business Class Bungalow
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