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The Real Estate Boom Taking Electronic City Bangalore to a New High

 


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Electronic City, which is located in Bangalore, is a fully developed IT hub. Each year, thousands of employees migrate from other states for jobs. The article deals with residential properties in Electronic City.

Being one of India’s largest electronic industrial parks, Electronic city is spread over 332 acres of Konappana, Agrahara and Doddathogur villages. It is divided into three phases namely: Phase 1, Phase 2 and Phase 3. The maintenance of Electronic City is under the control of ‘The Electronic City Industries Association’. Due to the huge migration of employees each year, there is a demand for residential properties across the Neeladri road and Thogur. The major residential complexes in Electronic City that offer flats and apartments for rent are Neeladri towers, Ajmera Infinity, Celebrity signature, Celebrity Classic, Concorde Manhattan, Concorde Silicon Valley, Concorde Cuppertino, SJR Equinox, Ittina Mahavir, Neo Homes Passion Elite and GVK Genesis Ecosphere.

The amenities that are offered within these flats include modern wood work in the Master Bedroom and Modern Bathrooms Fittings, Garden, Swimming Pool, Play Area, Health Facilities, Recreation Facilities and 24hr Backup. In addition, there is adequate arrangement of Maintenance Staff, Security, Intercom, Club House, Tennis Court, Gymnasium, Indoor Games, Basketball Court, and the Community Hall among others. These builders offer comfortable and convenient residential living experience to residents moving to this location, not only considering it as an IT hub but also as a good place to live with all the services and amenities available.

2 BHK flat in Electronic City for rental is offered at a price of 20,000 rupees per month having an area of 1300 sqft. Meanwhile, a 3 BHK flat in Electronic city is offered for a price of 25,000 to 30,000 rupees for an area of 1800 sqft. Regular price in the locality have gone up by 60% as per the latest survey taken in July 2012 quarter. The reason for this sudden increase is the construction of a flyover and settlement of people working in Electronic City.

There are approximately 190 IT companies located in the Electronic City. Some of the major IT giants who have their office in the Electronic City premises are Infosys Technologies, iGate Global, Tata Consultancy Services, Wipro Technologies, CGI group, Fanuc India, Mahindra Systems, General Electric, Siemens Information Systems Limited, Timken India Limited, Yokogawa, Sourcebits , Happiest Minds, Hewlett-Packard, HCL Technologies, STPI, TUV Rheinland India Pvt Ltd, Biocon and APC. The ten-lane diverse corridor elevated highway from Silk Board Junction to Electronic City which was opened on 22 Jan 2010 stretches up to 9.985 km long and is the longest elevated national highway in the country. This elevated stretch, has the potential to help a commuter reach Electronic City from Silk Board in less than 15 minutes. The highway or Hosur Road (as it is known), also has offices of some major IT players like BOSCH, Sasken, Convergys etc. , along with showrooms of major auto manufacturers like Volvo, Audi, BMW, Toyota, Honda, Volkswagen located alongside.

The educational institutes in the Electronic City premises are:

  1. IFIM Business School (IFIM)
  2. IZEE Business School
  3. Noble Institute of Education Society
  4. ICFAI, BTL Institute of Technology
  5. Institute of Bioinformatics and Applied Biotechnology (IBAB)
  6. Noble Institute of Education Society? PES School Of Engineering (PESSE)
  7. The Oxford College of Engineering
  8. SIBM (Symbiosis Institute of Business Management)
  9. Brookfield High
  10. Christ Academy
  11. Candor International School
  12. TREAMIS World School
  13. Xavier Institute of Management and Entrepreneurship

Though there is a huge residential population, the area serves only three major retail markets which are Nilgiris, Four Points Supermarket and Smart Supermarket. A major mall called Neomall is being constructed which is expected to be open for public by the end of 2013.

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