Krishnarajapuram popularly known as KR Puram has emerged as an important middle point between the Central Business District and the eastern Bengaluru while travelling towards Whitefield. The Outer Ring Road connects KR Puram to Kamanahalli, Lingarajpuram, Nagvara and Hebbal eventually leading towards airport on one end. At the other the ORR connects KR Puram to Sarjapur Road taking one through Marathahalli and eventually to Silk Board in the South. Thus KR Puram connects one to the East, North and to the South as well.
The experts feel that KR Puram was earlier a residential sub urban area of Bengaluru with a well-established market due to the railway station on the Bengaluru - Chennai route. The rail way station always remained as a key driver for growth opines experts but nevertheless the development of the ORR connecting it to all the urban areas of North South and East of Bengaluru added value to the place. Thus the plying between the various tech-parks on the edge of the ORR became easier for the employees which spurted the residential growth. Simultaneously KR Puram became a hub of sprawling office spaces, malls, entertainment hubs and other social infrastructure in the recent years.
Positional advantage of KR Puram
First of all KR Puram has the railway station to its advantage and then the connectivity is enhanced in the city precincts by the ORR which has all the social infrastructure at the both sides of it in different places with SEZ and the IT parks at intervals till the silk board on the South and Hebbal on the North and till Whitefield in the East. The office space absorption in and around the ORR has been huge in the recent couple of years which had a very high impact on the development of KR Puram. KR Puram is also connected to the International airport and that has flourished the growth of hotels along the ORR too notwithstanding that KR Puram is connected to the central Business District and places like J.P. Nagar, Koramangala, HSR Layout and Whitefield.
Current supply
According to the research conducted by the renowned realtor research companies the Marathahalli- KR Puram stretch and the Hebbal – KR Puram stretch of the outer Ring Road are the preferred destinations of the IT and the ITeS companies. The reports say that at present the area has around 13.7 million sq. ft. of working grade A office spaces of which about half is occupied by IT and SEZs. The average rental prices in these areas are around Rs. 52 to Rs. 62 per sq. ft. which has increased by 12 % since 2013. An IT park with an area of 3.6 million sq. ft. of commercial office space heavily dominates its impact on the real estate on the Marathahalli- K R Puram stretch. On the other hand the Hebbal – K R Puram stretch is dominated by 9.7 million sq. ft. of prominent business and IT parks. In the K R Puram – Whitefield stretch the office space dispersion is about five million sq. ft. which are the developments along the road to ITPL which passes through K R Puram. It is expected that another five million sq. ft. of office space will come up within the next 18 months which will further boost up the development of K R Puram. If one talks of the retail space, there is about 2.6 million sq. ft. of space being present already in and around K R Puram. Another 1.5 million can be expected to come up in the next couple of years with the current growth in demand.
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Krishnarajapuram popularly known as KR Puram has emerged as an important middle point between the Central Business District and the easter...
