ORR Promising Location for Office Spaces: Report

The announcement of the Bangalore-Mumbai and Bangalore-Chennai industrial corridors in this year’s Union budget has sparked renewed interest in the city’s business potential,

Published: 09th December 2013 10:24 AM  |   Last Updated: 09th December 2013 10:24 AM   |  A+A-

The announcement of the Bangalore-Mumbai and Bangalore-Chennai industrial corridors in this year’s Union budget has sparked renewed interest in the city’s business potential, according to a report by workplace services firm Vestian.

The report stated that Outer Ring Road (ORR)  would remain a promising location for development of office spaces in the short term.

The report rated Whitefield, ORR (between Hebbal to Central Silk Board junction), Sarjapur Road and Bangalore North as the most vibrant micro-markets. The growth of other sectors besides IT/ITeS like biotechnology, automobiles, aviation and textiles will also strengthen the city’s economy, the report predicted.

The report identified northern and north-western localities, Kanakapura Road and Old Madras Road as the most promising areas for real estate development in the city. Office space absorption in the city will reach nearly 9 million sqft by the end of this year while SEZ parks would see mixed development following revision of regulations, it said.

The retail and hospitality sector will see annual appreciation of 5 to 20 per cent in rent rates for shopping malls and 4 to 13 per cent in high street locations, the report said.                   

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp