Bengaluru Suburban Project: Land prices show upward trend

The Karnataka state government has approved the Greater Bengaluru Integrated Suburban Project to address Bengaluru's rising congestion issues. Announced on January 30, the initiative aims to develop satellite townships in Devanahalli, Nelamangala, Hoskote, Doddaballapur, Magadi, and Bidadi. By enhancing road and rail connectivity, the project seeks to improve accessibility and promote balanced urban growth.

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Real estate experts view this as a pivotal move to ease Bengaluru's infrastructure stress. The emergence of satellite towns is expected to shift some of the urban population and unlock development opportunities in Bengaluru’s outskirts, where land remains relatively affordable. These areas, in turn, are likely to witness a surge in real estate activity, creating new growth hubs.

Property prices in locations like Devanahalli and Doddaballapur have already shown an upward trend, with increasing demand for plotted developments and villa projects. Plot prices in these regions range from ₹2,000 to ₹6,000 per square foot, reflecting growing interest. However, Nelamangala, which has yet to attract substantial real estate activity, is expected to benefit significantly from the project, unlocking its untapped potential.

This initiative is seen as a step toward long-term urban planning, reducing pressure on Bengaluru while fostering economic growth in its peripheral areas. The project is anticipated to boost connectivity and drive real estate investment in the years ahead.