North West Bengaluru is emerging as the next secondary business district in the city, according to a report by Meraqi Research. This region encompasses crowded areas such as Malleshwaram, Rajajinagar, and Peenya and is attracting large corporates across industry verticals, including automotive, pharmaceutical, aviation, electronics, IT/ITeS, among others.
The report noted that strong physical infrastructure, proximity to the central business district, demand for A Grade office spaces, and a good residential catchment of around 27,000 units have been some of the key contributors to this growth. The area currently provides employment to around 550,000 workers and is poised to create an additional 45,000 jobs by 2025.
Head Advisory and Valuation at Meraqi, Ezhilarasi, said, “We undertook this study to assess the commercial growth of the North-West Bengaluru region. In our endeavour to lead the way in research, we decided to bring in a perspective as to why this would be an ideal location for a lucrative investment. We have provided deep insights into the ecosystem of North-West Bengaluru and highlighted the demand supply analysis, capital value, rental appreciation, growth prospects, liveability, and future employment opportunities. In sync with the data, the micro-market will soon emerge as a secondary commercial business district.”
The region’s excellent connectivity is driving commercial real estate growth. It has metro rail connectivity, expressways, wide roads, good drainage, lack of water logging, and connectivity to various business districts. The proposed Bangaluru-Mumbai Industrial Corridor, which will pass through North-West Bengaluru, is expected to increase commercial real estate growth with an expected employment opportunity of around 23 million by 2041.
The Namma Metro purple line extension, expected to be completed by 2023, will further boost the prospects of the commercial real estate sector in the region. With its strong infrastructure, connectivity, and job growth potential, North West Bengaluru is fast becoming an ideal destination for businesses and investors alike.