Magadi Road is the 43-km long stretch that extends from near Bangalore City Railway Station to Magadi. It runs through the heart of West Bengaluru, and is probably one of the earliest developed real estate markets in the city. This road passes through a lot of prime localities along the way, like the Majestic bus stand, Rajajinagar, Vijayanagar, Kamakshipalya, Sunkadakatte, and Gandhi Nagar, which is why it has seen high real estate demand over the past few years.
Because its a prime residential market, the social infrastructure on this road is highly developed. This area is mostly preferred by families, simply because of the large number of good educational institutes, hospitals and clinics, banks, and supermarkets that have sprung up. One of the more popular schools here, is the St. Lawrence High School. NIFT, Bengaluru also lies on this stretch.
For people who want a simple, modest life outside of the fast-paced pub-culture of Bengaluru, Magadi Road is often the popular choice.
Connectivity and Transit Points
Magadi Road is a major transit route between the localities that define its boundaries. Rajajinagar, a prominent locality in West Bengaluru, lies on this road, and so is easily accessible. The localities of Cottonpete and Chickpete are also adjacent and well connected to this road. Other localities in Bengaluru that can be reached via Magadi Road are Bommanahalli, K. R. Puram, Yelahanka, Kengeri, Hosakote, Dasarahalli, and Devanahalli.
Although Bangalore City Railway Junction (just 4 km away) is the major rail transit point serving this area, there are other smaller stations catering to Magadi Road as well, like Jnana Bharati and Nayandahalli Railway Station.
The major bus stop catering to Magadi Road is Kempegowda Bus Station or, as its more popularly known, the Majestic bus stand, situated around 6 km away.
Bengaluru International Airport is just 38 km from here, and can be accessed either by cab service, autos, or the BMTC service buses, which are the more popular modes of transportation around here.
Major Landmarks
â? Bengaluru City metro station
â? Taverekere Police Station
â? Embassy Public School
â? Rajarajeshwari Kalyana Mantapa
â? Universal College
Factors for Growth in the Past
Part of old Bengaluru, Magadi Roads growth as a realty market can be attributed to its excellent connectivity with many major localities in the city. And since the road passes right through these localities, the high realty demand in those localities has stirred up significant interest in real estate on Magadi Road.
This eventually leads out of Bengaluru, into the neighbouring historical town of Magadi, which is a great weekend getaway. Being accessible to a popular tourist location has contributed to the development of both infrastructure and real estate market on Magadi Road.
Residential and Commercial Market
Residential Market
The residential market in Magadi Road is dominated by independent plots, which makes up over half of the total residential market. Apartments and flats come next, while independent houses constitute a small share of the market.
The price trends for the apartments in Magadi Road lie in a higher price bracket of Rs 4,500-5,500 per sq. ft. The average price of the apartments here, in the April-June quarter of 2014 was Rs 5,735 per sq. ft. For the residential plots in Magadi Road, the average price in the same quarter was Rs 16,450 per sq. ft.
Commercial Market
The commercial market isnt as strong here. Most of the commercial property in Magadi Road consists of plots and lands, office space, and industrial buildings.
The rates of the commercial plots and lands fall in the price range of Rs 10,000-12,000 per sq. ft.
Major Challenges
Illegal construction is a major civic issue on Magadi Road. Unauthorised shops and stalls have come up along this stretch, obstructing the pavements.
The roads leading into Hosahalli from Magadi Road need immediate attention. They are uneven and highly damaged, and are causing serious problems, especially when it rains.
Like the rest of the city, localities on Magadi Road are suffering from severe water crisis. There are some houses, especially in Bharath Nagar on Magadi Road, which receive water once in five days. Since the underground water pressure is low, the residents have to spend their own money to get motors and pump the water out.
Future Prospect for Growth
The locality is yet to achieve its full potential, but without proper infrastructural development, the future prospects look bleak. One of the developmental projects being undertaken here is the water tank project, where sewage water is being treated using the Soil-Bio technology to make it usable, and then supplied back into the Herohalli tank. Now that this project is underway, the residents have some hope of receiving adequate water supply.
The underground line for the North-South metro route, which passes through this neighbourhood, is currently under construction. Once operational, Magadi Roads residents will enjoy better connectivity with other parts of Bengaluru. With better connectivity comes market appreciation; so the completion of the metro project is expected to have a positive effect on the real estate market in Magadi Road.