With IT and start-up ecosystem booming, Bengaluru is becoming one of the fastest growing cities in the world
Ever since the IT revolution started in India, Bengaluru has been in the forefront and is today referred to as the Silicon Valley of India. Huge investments from the government led to various industrial, scientific and technical companies establishing their headquarters in the IT capital of India.
Bengaluru today accounts for the highest IT-related exports in the country and houses nearly 3 lakh IT professionals. It is not only an IT city but has also over the years become the startup hub of the country with more and more talented professionals moving to the city and creating million dollar companies, spurring jobs and realty demand.
With the population increasing year by year, the suburbs of the city have grown significantly, giving rise to multiple affordable housing projects in the area. In north Bengaluru, there are many localities like Doddabalapur Road, Devanahalli, Jakkur, Nagarbhavi, Hennur etc, are offering affordable homes. Also the state government has proposed to launch a number of projects in North zone such as aerospace, ITIR (Information Technology Investment Region) and financial city. The places in North Bengaluru are also in close proximity to the airport.
South Bengaluru is home to some of the oldest and posh residential localities such as Basavanagudi, Chamarajapet, and Jayanagar. Proliferationof MNCs and IT companies in this belt has lead to surge in demand for affordable homes for the migrating population. Residential extensions into J P Nagar, BTM Layout, Bellandur, HSR Layout, Electronic City, and Hosur Road have also grown significantly. Koramangala, Sarjapur Road, Bannerghatta Road, and Kanakapura Road are doing well due to proximity to work areas.
Many working professionals are also exploring options in east Bengaluru due to proximity to their workplaces. Tech parks, including a number of MNCs have been set up here and the traffic has eased in the area due to the signal free Outer Ring Road (ORR) stretch from Silk Board to Hebbal linking Electronic city to Whitefield.
Booming Bengaluru regions
- Proliferation of MNCs and IT companies in south Bengaluru has made it a residential hotspot
- Proximity to various IT cities and MNCs has improved north Bengalurufs infrastructure
- Broadening of state highway to Mysore has improved connectivity in west Bengaluru
- Signal free Outer Ring Road (ORR) stretch connects east Bengaluru with all major areas in the city
- Proposed IT development in Devanahalli to transform north Bengaluru
- Proximity to international airport driving residential development in nearby areas
- Government-sanctioned SEZs to come up in Varthur, Whitefield, Electronic City and Begur
- Bengaluru Metro to soon connect the entire city
Recent development in Yeshwantpur, Malleswaram, Rajajinagar, Matthikere and Vijayanagar has also put west Bengaluru in focus. Rapid development of the NICE Corridor will lead to significant growth for places like Tumkur Road and Magadi Road could well become the next IT hub in Bengaluru.
Infrastructure development has transformed North Bengaluru as a bustling business corridor. Many Fortune 500 companies have their offices here and that has made Bengaluru one of the prime place for jobs and employment. The government has also sanctioned number of SEZs to be developed this area. Numerous international companies like Volkswagen India, Volvo, Hero Honda, and Mahindra Aerospace have added various jobs in east Bengaluru. Many industrial units and zones such as Surya Electro Controls, Yeshwantpur Industrial Area, Rajajinagar Industrial Area, Selvas Industrial Estate, etc, have come up in west Bengaluru, making it a residential hub.
Bengaluru today is a market for Fortune 500 companies, IT companies and booming start-ups. Growing Metro connectivity and infrastructure connecting the suburbs with the main city will only help in making Bengaluru one the most livable city.