How the Evolution of ORR Transformed Bangalore – And Why STRR Will Be the Next Big Boom
Real estate development in Bangalore has always been in line with the development of infrastructure. The Outer Ring Road (ORR) is one of the best illustrations of this change. What used to be a quiet place on the outskirts of the city has currently been transformed into one of the greatest economic hubs in India.
History appears to be repeating itself now with the Satellite Town Ring Road (STRR), an enormous undertaking of infrastructure, which is predicted to unlock the next stage of Bangalore’s growth.
The reason why ORR could change the city is important to investors and homebuyers because they can view how STRR can produce the new massive real estate boom.
When ORR Was Just an Empty Stretch
The Outer Ring Road is not the same as it is nowadays, and it was quite different twenty years ago. The corridor was heavily engulfed in agricultural land, small villages, and extremely low development.
Such locations as Marathahalli, Bellandur, Sarjapur, or Whitefield surroundings were then regarded as being far off the central city. The prices of the property were not very high, and no one could think that this area would be the center of the IT sector in Bangalore.
But as through the ORR, the connectivity in the big sections of the city was enhanced, something spectacular occurred.
IT parks were attracted by infrastructure.
Companies were attracted to IT parks.
Professionals were attracted by companies.
The housing demand was created by the professionals.
This domino effect totally changed the region.
ORR Today – Bangalore’s IT Growth Corridor
Some of the largest international firms and technology parks in India are located in the Outer Ring Road today.
The ORR stretch hosts major business centres like RMZ Ecospace, Ecospace Business Park, Embassy Tech village, and many other tech campuses.
The corridor links big IT centers such as:
- Whitefield
- Marathahalli
- Bellandur
- Sarjapur Road
- Electronic City connectivity routes.
Due to this rapid development, the property prices along the ORR experienced rocketing prices over the years. Plots that fetched a few lakhs several years back fetch now in multi-crore real estate prices.
This transformation is a clear indication of how infrastructure has the power to transform the real estate market of a whole city.
The Next Big Infrastructure Project – STRR
Although ORR linked Bangalore internally, the Satellite Town Ring Road (STRR) is to be linked to Bangalore and its satellite towns.
STRR is a massive highway corridor of 280 + km, which is being constructed by the National Highways Authority of India (NHAI). It will connect a number of key towns in and around Bangalore, such as:
- Doddaballapur
- Devanahalli
- Hoskote
- Sarjapur
- Harohalli
- Kanakapura
- Ramanagara
STRR is aimed at alleviating traffic congestion within the city and enhancing the logistics and industrial development and connectivity within the outskirts of Bangalore.
However, traffic management is hardly the only way in which STRR is likely to be involved.
Why STRR Could Create the Next Real Estate Boom
Similar to how ORR has led to growth in IT and residential demand, STRR will open up new growth avenues altogether.
STRR is a game-changer of an infrastructure project for several reasons.
1. Bangalore Growth Boundary Expansion.
Bangalore is a growing city at a tremendous rate now, and the core areas of the city are already congested. STRR will permit growth to extend to satellite cities and establish new residential and commercial centers.
2. Logistics Development and Industry.
STRR will go a long way in enhancing the flow of goods in Karnataka and other states within the region. This will bring logistics parks, warehouses, and industrial areas into interest in the corridor.
3. Improved access to the Airport and IT Hubs.
The areas around Kempegowda International Airport will also be connected in faster speeds to the airport, making them an attractive location to develop residential locations in the future.
4. Unfairly Low-Priced Lots into Premium Property.
Corridors led by infrastructure in Bangalore have always experienced massive price growth. The land prices in STRR regions are relatively low at the moment, and this situation may not be the same when development commences.
ORR teachings to Real Estate Investors.
Going back to the ORR story, the biggest gain was made by early investors who had bought property prior to the boom in infrastructure.
What appeared to be undeveloped areas gradually developed into the most premium real estate areas of Bangalore.
The current state of the STRR corridor can also be described as being in the early development of infrastructure, with huge potential in the long run.
That is why the sphere of the places along STRR is followed by a lot of attentive eyes of investors and developers.
The Future of Bangalore’s Growth
The future of the real estate of Bangalore has always been influenced by infrastructure.
To begin with, it was the IT corridor in Whitefield.
Then, the outer ring road technology belt.
This is slowly changing its focus to the Satellite Town Ring Road (STRR).
The regions surrounding STRR may be the subsequent significant growth real estate areas, as the project progresses and connectivity is enhanced.
Investors and people interested in purchasing a home with long-term appreciation can consider the trend of infrastructure, such as ORR and STRR, which will help in identifying the opportunities before the market is saturated.
