Infrastructure Development
The infrastructural facilities available in North Bangalore are one of the significant determining factors for the zones growth as a commercial centre. Currently, the growth of Kempegowda International Airport has been a turning point that strengthened the region’s linkages tremendously. The airport makes domestic and international travel easy, and also multinational companies seeking office space for rent in Bangalore. North Bangalore is mostly suitable for commerce-based firms especially those whose activities entail travel often since the place is close to the airport. Additionally, key transportation routes like Outer Ring Road (ORR), Bellary Road, and the upcoming Peripheral Ring Road have significantly improved connectivity in Bangalore and surrounding states. These infrastructural developments have eased the movement of transport duration and made North Bangalore more accessible and business entities started thinking of moving their offices to this area.
Strategic Location
Thus, another factor that points to the steady increase in the demand for office space in North Bangalore is its advantageous location. It is located slightly on the outskirts of Bangalore and that means it gets more space and is less congested than the central region. This location will be of great benefit to firms that are in search of office space for rent in Bangalore since it is easily accessible yet surrounded by ample security to offer much-needed privacy. In addition, North Bangalore has easy connectivity to other strategic parts of the city such as Hebbal, Yelahanka, and Devanhalli. They are experiencing a rising commercial and residential complex that reciprocally benefits the commercial and residential business.
Emerging Business Opportunities
The availability of numerous business parks and tech zones is also found in North Bangalore which marked this area as a rapidly emerging commercial zone. Some of the recent works involve Manyata Tech Park, Kirloskar Business Park, Aerospace Park and civil infrastructure. These business parks accommodate several multinationals, new ventures, information technology companies, and many related establishments, thus creating a healthy business environment. For example, Manyata Tech Park is one of the biggest tech parks in Bangalore that accommodates several business corporations affiliated with the Fortune 500 list. Its success has resulted in the continuing growth of commercial real estate in the surrounding areas since other businesses are keen to invest where there is already a standby network and infrastructure.
Affordable Office Spaces
Unlike in central and South Bangalore where prices are slightly high, the office space in North Bangalore is slightly cheaper. This factor is essential to a startup or SME that wants to set up an office in Bangalore within a short period but at a low cost. The current achievable rent for commercial spaces and the prospect of future growth in rents make it a truly desirable place for investments. In their recommendations, the real estate consultants insist that North Bangalore holds different types of office accommodation that include; co-working, small and commercial office accommodation, and expansive commercial buildings. It is due to this diversity that different requirements of various businesses are met, meaning that firms of various sizes can always secure the premises in the region that is most suitable for their needs.
Quality of Life
The following is another great benefit related to North Bangalore. The quality of life is very satisfactory in North Bangalore. The social infrastructure of the region including quality educational institutions, healthcare centres, malls and recreation centres is also very satisfactory. All these amenities have the potential to make North Bangalore a more favourable location for residential and commercial development. In the same perspective, employees are commonly greatly concerned by the quality of schools and healthcare centres available in the region where they are to work.
Future Prospects
The perceptions towards the commercial development of North Bangalore are quite encouraging for the future. There are currently under construction and pipeline projects like the Metro Phase 2 expansion project and the suburban rail project that will improve connectivity. These are improvements that will help pull more firms into the area, thus the increasing need for office spaces in Bangalore. Also, the government's planned policy to develop North Bangalore as an aerospace and industrial zone will open new avenues for business and thus there will be a prospect for growth. One of the other major projects is the Information Technology Investment Region (ITIR) proposed at Devanahalli, it is one of the prime projects that is likely to have a positive impact on commercial real estate in North Bangalore.
Conclusion
North Bangalore’s becoming the next big thing for office spaces perfectly indicates the region’s growth. It therefore can be said that both, the establishment of solid infrastructures and advantageous position, as well as the growing number of business prospects and relatively low costs of living and doing business make it an ideal location for renting offices in Bangalore. Thus, real estate consultants have a very important function of helping businesses find countless opportunities in the development of North Bangalore as a leading commercial centre. Depending on the scores of growing and developing cities, North Bangalore is all set to play a substantial role in commercial real estate in Bangalore.