Prashant Thakur, Head – Research, ANAROCK Property Consultants
Despite new launches decline, property prices in Yelahanka did not correct significantly and actually appreciated by 9% in the past 2 years
Existing since the 12th century, Yelahanka is closely linked with the origin of Bengaluru. The book ‘Bengaluru to Bangalore’ by T.V. Annaswamy mentions that the word ‘Yelahanka’ is derived from ‘Valipakka’, meaning ‘along the highway.’ Over a period of time, Valipakka (during Chola reign) transformed into Illaipakka (during Hoyasala reign) and finally into Yelahanka.
The construction of the Kempegowda international airport was a game changer for the region and initiated Yelahanka’s metamorphosis from a sleepy little settlement on the outskirts of Bengaluru into a buzzing residential investment destination.
Yelahanka, which is divided into Old Yelahanka and Yelahanka New Town, is home to many defence establishments such as CRPF training school, Indian Air Force’s Air Force Station and BSF Training Centre. This micro-market also houses the largest facility of Mother Dairy in Karnataka, as well as the rail wheel factory (India’s largest manufacturer of railway wheels and axles).
Yelahanka enjoys excellent social infrastructure including educational institutions, healthcare facilities and entertainment options – and Kere Lake, Allalasandra Lake and Puttenahalli Lake (also a bird sanctuary) scale up the aesthetic value of the region. These factors have combined to attract investors and homebuyers to Yelahanka in droves.
Yelahanka has an excellent connectivity quotient as it is accessible from various parts of Bengaluru through a well-established road and rail network.
Rail & Metro Rail
Supply & Absorption
Property prices in Yelahanka have been on a constant rise constantly till Q1 2018. Interestingly, despite the impact of the economic reforms in 2016 and the decline in new launches, prices in Yelahanka have not seen any major corrections. In fact, property prices in Yelahanka have appreciated by around 9% in the past two years, with the average price as of Q1 2018 being ₹5,100/sq.ft.
Apart from its immense historical importance, Yelahanka is now one of the most prominent residential hotspots in Bengaluru. Replete with well-developed social and physical infrastructure, this micro market is likely to witness increasing in tandem with the deployment of the proposed infrastructural developments in and around it.
With maximum supply in the mid-segment housing category and availability of large land parcels, Yelahanka is one of the most promising real estate investment destinations in North Bengaluru. Moreover, leading builders have built several villa developments in Yelahanka, resulting in it also becoming a preferred weekend home destination.
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