Bangalore has outperformed other metros in regards of
occupancies of land for commercialization. For the past two years it has been
ruling the charts of rental values of office spaces. Many IT giants are heading
towards Bangalore for making their grounds in India. Within this evolution
taking place all around the city, two most important places that are witnessing
the graph line treading down in terms of officespace for rent in Bangalore are the Old Airport Road and the HSR layout.
The Old Airport Road which was previously known for the old rich has lost its
sheen over the past few years. The rental values in this region have dropped by
23 % in the first quarter of 2013. Poor Infrastructure and rampart
commercialization attribute to this drop.
The place was ones used to be the most sought out place in
regards to its quite environment suitable for families to settle down. But as
the International Airport moved in to Devanahalli with rampart and unplanned
commercialization crowded this area, the old dwellers started moving out from
this place and the new entrants started seeking out for more suitable locations
like Whitefield. Another most important factor that aggravated the drop in
rental values is its never ending traffic. According to few residents, the
traffic over here is very slow moving one and its takes a longer time to reach
the shortest distance here. Many businesses who wanted to look for office spaces for rent over this region,
stepped back because of the bad congestion of traffic. Added to this, the low
end commercialization has given a negative vibe to the new businesses coming up
to open their outlets here. Nobody wanted to pay high rent for a place near low
end commercialization.
Office space for rent
in Bangalore has shown a relative drop in another location and that is the
HSR Layout. Though HSR layout stays connected with two major locations in
Bangalore- Kormanagala and BTM, but the factor that makes it unfit for office
spaces for rent is its untidiness. The place is well equipped with schools,
colleges and other shopping centers. This attracts many IT professionals to
locate here on rent for years before actually moving to a place near their
office. Poor infrastructure, indiscriminate garbage dumping and small arterial
roads have discouraged the new businesses to locate here for office spaces for rent. Residents here
are faced concerns on health issues due this inappropriate garbage dumping.
During monsoon, HSR layout faces water logging as well. If the untidiness and
water logging issues are addressed, then this region can come up with huge
potential for office spaces for rent. With
the connectivity of Metro, this place will bore fruit for high end
commercialization.
Live-in Space Corp Serve Pvt Ltd |
|
| 14, 1st Floor, 2nd 'A' Cross, | |
| 16th 'C' Main, 4th Block, | |
| Koramangala, Bangalore -560034 | |
| Mob : +91 9945235126 | |
