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Commercial and Office Demand in HSR Layout,
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Commercial and office space in high demand in HSR Layout
03:44
Bangalore: HSR
Layout was developed by BDA (Bangalore Development Authority) in 1984 with its
progress picking up at a fast rate owing to the IT parks and the Central
Business District being in the vicinity and Outer Ring Road (ORR) running
throughout its edges. The HSR layout is spread across 1, 500 acres of land and is
split into sectors from I to VII. Apart from this, HSR layout is located in the
areas adjoining BTM Layout and Koramangala along with large scale commercial
development burgeoning along the ORR stretch between Marathahalli and Central
Silk Board junctions.
The overview of the commercial Market
This
micro-market is primarily a residential area developed by BDA and presently
supports very limited commercial activities and developments. HSR layout has
its own BDA complex with standalone commercial stores and retail development
being observed with entry of big players of the market in entertainment, food,
consumer durables being noted. But the ORR which runs throughout the edges of
HSR layout houses several IT and ITeS companies with major IT players’ offices
located around the region.
The
ORR stretch between Marathahalli and Central Silk board has large IT parks and
Special Economic Zones (SEZs) which actually supports the micro-market of HSR
layout.
This IT corridor has been the development of the last 10 to 15 years and
accounts for about 25 percent of Bangalore’s IT space with several major IT
companies operating in this area.
A Micro-market with the best performance.
The
micro market has over 18.79 million sq. ft. of IT space currently operational with 3 SEZs, and
10 IT parks with approximately another 16 million sq. ft. under construction
which will have 6 IT parks and 2 SEZs. These upcoming IT parks and SEZs are
expected to be completed and operational within the next 5 years. SEZs consist
of 50 per cent of the currently operational commercial spaces and this area
accounts for almost 75 per cent of the total Special Economic Zone space of the
city.
Experts opine that that this micro
market consisting of large multi-tenanted IT parks with about 95 per cent of
the A- Grade office space is occupied by IT and ITeS organizations alone. They
also opine that this is the best performing micro-market in the city of
Bangalore for commercial office space.
Most High absorption of commercial and office spaces.
Data
reveals that absorption of commercial spaces by this micro-market has been in
the range of 2.25 million sq. ft. in the last seven years with a record
absorption of 3.70 million sq. ft. of office space in the preceding nine months
which is almost 34 per cent increase in absorption compared to last year. This
is a clear indicator that this micro-market is the favourite for the IT and
ITeS segment which reaffirms the prospects of commercial real estate market in
this region.
The experts attribute this rapid growth
in demand due to fairly good absorption of new influx of supply and higher
released commitments. This has certainly led the vacancy levels to be low with
increasing rentals.
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20 comments
HSR Layout is the Residential area, now slowly it is converting into Commercial area by opening new IT and Non IT offices. Main reason behind this is HSR layout is very much nearer to the silk Board which is the center of the Bangalore City. Mostly small scale industries are launching their businesses in HSR layout area, by converting residential homes into commercial areas.
ReplyDeleteThere is a good connectivity to HSR Layout from Sarjapura Road and Koramangala. I don't think that that Big companies show their interest in HSR layout as there is no proper empty land in that area, but the industries which are having less than 150 employees are showing their interest in opening their companies in this area. Primary reason is connectivity and secondarily it's climate conditions.
DeleteWhitefield and Electronic city are very far to the Residential areas like jayanagar, koramangala. Due to this new industries and small IT firms are showing their primary priority to HSR Layoout or nearby areas. Slowly it is converting from Residential into commercial place. HSR is coovering the Outer ring road also so, there will not be any type of traffic issues also.
ReplyDeleteI do believe most IT companies have eyes on HSR layout as it is well placed to central Bangalore and easy to access from every place in Bangalore. Residential areas like BTM and Kormangala are adjacent to it. The most important factor for considering HSR is because all the IT hubs are far away from their employees resident so shifting to HSR may help to cut a huge Travel expenses as well. Again HSR is a sophisticated are most of the qualified and high ranked officers live here so it is safe at night as well.
DeleteThe only reason behind this is Locality wise. Moreover HSR layout is the place for huge number of trees and Indepndednt rich houses. Now IT industries are converting this alsi a commercial area, but they should make sure that these things will not effect the premises over there like cutting the trees and starting the projects as because of HSR and Jayanagar, JP nagar areas only we are calling Bangalore as Garden city. Hope this will not effect in negative way to the Bangalore.
ReplyDeleteActually it is a good sign of getting new Companies started in the areas around HSR Layout. Because traffic will reduce. People will give their choice to HSR layout only instead of city borders. Micro market is occupying these areas to start their business. Even statistics are showing only small scale companies are showing their interest in these areas.
DeleteHSR Layout is one of the fastest growing places in Bangalore which is really suits for the IT Professionals, and also this is the location which is connected across the IT sectors. We can find so many professionals at this place, builders are purchasing lands to build luxury’s for the employees.
ReplyDeleteSafety is the major concern of every city and Bangalore is the safest place in India because of its night life and if I am not wrong than directly or indirectly these IT companies have hands to make this city safe. If the IT companies are coming close to the central area of Bangalore than it is a good news for all.
DeleteEverything has its own merits and demerits, and I think we are seeing only one side of the coin while in other side “silk board and HSR layout are like heart of Bangalore”, the heavy traffic in silk board junction goes off only after mid night again if all IT companies are coming here than it would become more crowded place and will hike more traffic problems for the common people.
ReplyDeleteIn HSR area we can find out very large land widening spaces and this area is split into 7 sectors. This area is connected with the outer ring road and also it’s stretched between the Maratahalli and central silk board. In this area we can also get to see beautiful commercial markets and homes which is build by the builders.
ReplyDeleteIn this area the construction of commercials is doing by the experts so that this area is becoming most fab, one more thing is that this area is filling up with the IT companies and so many different type of business.. Investors are luckiest persons by investing in this area.
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This is the area in which we can find so many small IT companies and beautiful apartments. Here we can also get to see the lot of real estate builders because this is the area which is free from the traffic and from the pollution's.
ReplyDeleteSoon we are planing to post location wise prices also in this blog. Please follow regularly for more updates.
ReplyDeleteYes even I enquired in last week in HSR for office rent its very expensive. HSR may be Silicon Valley of India in future. Many small companies are started in this location. I heard commercial rental are low at JP Nagar and Jaya nagger compare to the HSR Layout. I am planning to take office in Jaya Nagar.
ReplyDeleteThe huge traffic we can get to see at Silk board but the Hsr Layout is having land widening space, in this area we can get space for the office to start out business by living inside the surrounding of small business and IT companies…
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ReplyDeleteThe demands of this area is hiked up now a days due to the increases of IT companies and the apartments are constructed at this location is so beautiful which attract to every ones to this place. People are searching lands to invest their hard earned money and to stay lifelong in surrounding of beautiful environment.
ReplyDeleteCommercial areas are always in demand when there is a good communication facility and easy transport is available. In case of HSR layout it is surrounded well surrounded by residential place and near to silkboard junction, one side is close to bomnahalli and it touches ring road as well. Companies always shows there preference in such places.
ReplyDeleteBecause of the presence of silk board junction and HSR layout is nearest place from Silk board so most of the commercial organization are planning to make there corporate houses here.
Delete