 "Mathikere, Bengaluru: Infrastructure problems exist but connectivity is good")
Bengaluru, the information technology capital of India, has fast real estate development. The city has a diverse population, excellent education institutes and constantly improving physical and social infrastructure. For investors in real estate, there is no shortage of promising locations. Mathikere is one of them.
Close to the central part and towards the north-west, Mathikere is already an established residential precinct. It is very close to Yeshwantpur railway station, an important public transport hub, and is predominantly characterised by independent houses and low-rise apartment projects. Mathikere also houses some renowned education institutes such as Indian Institute of Science and MS Ramaiah Institute of Technology.
Due to the presence of top-notch residential projects such as Brigade Gateway (a 40-acre campus with a mix of residential, commercial and retail developments), the demand for real estate here continues unabated. However, as Mathikere is already a developed micro market, the supply of real estate projects is limited because of limited availability of developable land.
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Mathikere has property price growth of 10-15 per cent year-on-year. Some factors in its favour are excellent connectivity with key city centres due to the metro rail, proximity to the international airport and the IT hubs of north Bengaluru and relatively moderate cost of living. Numerous schools, hospitals and entertainment avenues are in the vicinity, and this has been attracting a lot of interest from investors and end-users.
Mathikere faces some infrastructural problems. However, given the number of projects planned in the area, the government is focusing on improving infrastructure in this region. To address increasing traffic, the government is planning to widen internal roads in Mathikere. There is also an ongoing over-bridge project by the railway department and the municipality, which can potentially reduce traffic congestion by 10-15 per cent. This project is currently delayed. Property prices in Mathikere are in the range of Rs 6,500-7,000 a sq ft.
The writer is managing director - south, JLL India
