The Bangalore city will soon be among one of the few in the country to have its own metro connectivity. If you look at bustling metropolitan cities around the world, one of the major factors that make them soughtafter destinations is good connectivity and hi-tech transport systems like the metro rail. Here too, there is a growing recognition that investments in the metro have numerous benefits, ranging from decreased congestion and greenhouse gas emissions, to development along the rail line, to a more competitive, modern and efficient transportation infrastructure.

After the success story of the Delhi metro, the government has recognised the fact that to draw investors to a Bangalore city, it must provide the necessary infrastructure for commuting. Now, nearly eight cities in the country have been identified to have metro links.

Bangalore is on the verge of joining the elite list of cities when Reach One of the metro project will be completed this year-end. Owing to this there are visible signs of revival in the commercial property segment with more occupiers opting for rented office and retail space.

Commercial growth along reach one
Since the route of Reach One passes through the Bangalore city's Central Business District (CBD) it will give a greater thrust to the commercial growth here. Bangalore's CBD is the most attractive and suitable real estate destination for new firms entering the Bangalore city. In the recent times, the combination of residential complexes located nearby and development of shopping malls as entertainment centres has given the CBD a new life.

Since rentals here are high, the tenants opting for office and retail spaces here will want the best in terms of infrastructure and services. Hence, the metro running through the CBD will spur demand for space along the route.

The Indiranagar area is a high-street shopping and commercial area and the metro passing through this zone will create a Secondary Business District (SBD). It will have a relatively different commercial real estate profile and address varied occupier needs as compared to the Central Business District (CBD). Currently, office spaces in prime commercial areas of Church Street, Lavelle Road and Residency Road continue to command a premium price.

The commercial property market in the city largely comprises the IT and ITeS sectors scouting for office spaces, and the retail segment. Most of the larger players are expanding at a rapid pace, leasing out spaces in emerging markets and the high streets like Indiranagar which happen to lie along Reach One.

Source:  magicbricks.com, 14th. October.2010