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Bengaluru real estate properties construction apartments

INDBengaluru real estate properties construction apartments


In the era of memes, I came across one of the funniest and relevant one about Bengaluru which went: ‘A city where a software developer travels for 2 hours to the office to develop an app that delivers items in 10 minutes.’ Oxymoron it may be, but Bengaluru holds the dual distinction of being the Silicon Valley of India while having one of the most acute infrastructure challenges in the world. According to the United Nation’s World Population Review, Bengaluru’s population was estimated at 14,008,300 in 2024 as against 7,45,999 in 1950 and is expected to reach 18 million by 2025. At the same time, the city has witnessed unprecedented growth with the presence of some big technology giants, creating employment and entrepreneurship opportunities.

Although this highlights the city’s attractiveness as the preferred destination to live, work and grow, it also points towards the growing pressure on existing civic infrastructure and the environmental challenges such as reduction in green cover, access to clean drinking water, lack of drainage systems and rising temperatures.

A construction site in Bengaluru.
| Photo Credit:
PTI

In this backdrop, the Karnataka government’s decision to upwardly revise the permissible floor area ratio (FAR) by 60% that will allow developers to construct additional floors in completed or upcoming properties is a positive move. By enabling additional construction to the tune of 40% of the total built up area, this move will enable the city to join the likes of Mumbai, Gurugram and Delhi-NCR in housing highrises and skyscrapers. This will open up avenues to accommodate the city’s growing demand for commercial and residential spaces. This also leads to addressing of other civic concerns including the need for power, water, waste disposal, public parking spaces and more, leading to the government to upwardly revise the floor area ratio which means more building volume for a given land area, leading to denser, potentially taller buildings. This will also lead to better flood planning for the city as higher FAR would mean construction of robust drainage systems and flood-resistant building designs with better water management and green cover.

Soaring rents

By allowing developers to purchase premium floor area ratio at 28% of the guidance value, the government has made the process of constructing additional floors affordable and attractive for developers. This move will also add to the margins of real estate developers who will be able to develop additional real estate space at affordable rates while rents continue to soar healthily, satiating the real estate needs of one of the fastest growing cities in the world.

A view of apartments from Magadi Road in Bengaluru.

A view of apartments from Magadi Road in Bengaluru.
| Photo Credit:
Sudhakara Jain

More importantly, it will open up opportunities for the development of more sustainable buildings which are energy-efficient, minimise heat gain due to their efficient design, a high-performance HVAC system, and use extensive natural daylight.

A view of the southern parts of Bengaluru city, off Kanakapura Road.

A view of the southern parts of Bengaluru city, off Kanakapura Road.
| Photo Credit:
K. Murali Kumar

From LEED-certified Palais Royale in Mumbai, which is India’s tallest building at 320 metres, to the country’s second tallest construction, Lokhandwala Minerva, standing at 300 metres or 1,000 feet, features such as car elevators and dedicated car parks maximise space, thereby reducing the need for extensive horizontal parking structures. Indian real estate developers have thus successfully developed tall structures which are sustainable. This further assumes significance for Bengaluru as it has over 1.20 crore registered vehicles with more than 1,100 cars per kilometre of road. Drivers spend an average of 28 minutes and 10 seconds to travel just 10 kilometres, according to two separate reports by the city’s transport department and the TomTom Traffic Index released in January this year.

While commercial properties have limited space to provide green cover given their presence in city centres and try to reduce their carbon footprint by minimising the energy needs for operational purposes, residential projects can take a lead in developing the towers in 20-30% of the land and keeping the rest for landscaping, aiding significantly in water conservation, reduced temperature due to greenery and lower carbon emissions. Therefore, strategic planning of tall commercial and residential complexes needs to be carefully undertaken in consultation with the government to ensure citizens have to travel less to access their needs, effectively reducing vehicular pollution, traffic snarls and particulate matter in the air.

Concept of a 15-minute city

As top cities including Bengaluru continue to witness migration of people from across the country, the city’s horizontal growth is not in line with the rapidly growing population, thereby necessitating the need for tall buildings within the central and secondary business districts to accommodate this population growth. This enables residents to help reduce carbon emissions by creating compact environments with efficient mobility features and cost effective services. My understanding is that the cost of providing basic services such as water, sanitation is significantly lower in densely populated areas compared to sparsely populated ones.

A landscape view of Bengaluru. 

A landscape view of Bengaluru. 
| Photo Credit:
K. Bhagya Prakash

Besides residents, tall buildings also attract investors as the presence of multiple tenants — commercial or residential — with variation in lease tenures significantly increases occupancy levels and higher expectation of continued rental income. This allows investors to shield themselves from market shocks arising out of unprecedented events over a period of time.

As Bengaluru continues to grapple with civic and environmental issues, the spate of infrastructure projects announced in the form of expansion of metro connectivity, the proposed construction of 16 flyovers and underpasses at an estimated cost of ₹13,140 crore by the Bruhat Bengaluru Mahanagara Palike (BBMP) to streamline traffic flow and congestion will play a crucial role in elevating the city’s standard of living. The government also announced allocating ₹3,000 crore to BBMP and the Bangalore Water Supply and Sewerage Board (BWSSB) for construction of a systematic drainage network and sewage treatment plants to mitigate flooding.

The expressway connecting Bengaluru with Mysuru.

The expressway connecting Bengaluru with Mysuru.
| Photo Credit:
K. Murali Kumar

In addition to this, the revival of lakes, better management of waste and mandating sustainability initiatives such as rainwater harvesting, sewage treatment etc., in residential and commercial complexes are important steps in readying Bengaluru as the global metropolis. Through smart planning in consultation with the government, developers are planning projects which are aligned with the administration’s vision of decongesting the city. This is resulting in opening up of several micro-markets such as Yelahanka, Whitefield, Brookefield, Hoodi, Kadugodi, among others, which is also helping accommodate the growing migration of people to India’s Silicon Valley.

The writer is Founder and CEO, Property First.



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