Manyata Tech Park is one of the major IT hubs on the Outer Ring Road(ORR) in Bengaluru. It houses more than 50 IT or Tech companies, and each company’s employee rolls amount to thousands.
A large IT park is always a magnet for real estate investment and also a prime location for investment. With an increased inflow of human traffic, infrastructural development is sure to follow as numerous people work there. Infrastructural development has taken place in Manyata Tech Park’s surrounding localities, like Thanisandra, Hebbal, etc.
Several people will be on the lookout for a flat near Manyata Tech Park for an easier commute. Staying close to the office offers several benefits. The primary use is saving time; with several upcoming residential complexes like “Purva-atmosphere,” the commute to work won’t take more than 10 minutes. Getting home faster means they have the rest of the evening off to do as they please. Shorter commute times are also psychologically beneficial, as driving in traffic increases stress levels. Additionally, if the commute is short enough for a walk, people can also use it as an opportunity to exercise.
Recently, the Thanisandra Main Road had white-topping work done, thereby making it traversable again. After nearly two years, the main road and intersection near Thanisandra Circle sport well-laid roads. The road was previously full of potholes, and it took almost half-an-hour for a four-kilometer commute. But with IT parks coming up in the locality, roads, bridges, flyovers, and other highway departments, infrastructure has seen sprucing up of late.
With infrastructural development on one-side, the commute from work to home and back is another important aspect for most people. When an IT park, especially one in the scale of Manyata Tech Park, comes up in a locality, it usually piques builders’ interest. People working in the tech park companies would like to live close-by, especially if they are from other states or cities.
Along with shorter commute times, living closer to the office is also highly cost-effective. People have to travel to work every day, which means regular fuel consumption. People living in a flat near Manyata Tech Park and working there will consume less fuel than others, effectively limiting their travel costs. A significant portion of many people’s monthly expenditure is fuel consumption. Even though most IT companies offer cab pickup and drop services, it doesn’t provide the same feasibility of owning a vehicle. Thus people tend to prefer their own vehicles, and this increases their fuel expenditure. But when commuting short distances, no matter the vehicle, the fuel consumption is cut down and therefore the spending.
Another indirect advantage of living near an IT park is the community. Most people living next to an IT park tend to be working there, though there are exceptions. Construction companies’ primary targets are the employees of tech centers like Manyata Tech Park. Either the employees themselves purchase the flats/houses, or someone else does and rents it out to the employees. But more often than not, it is the employees of nearby tech companies that reside in these flats. Therefore, the residents form a community within these residential complexes. They get to know one another, host events on holidays, etc. This community increases the safety of the area and a feeling of belonging for the residents. The community is usually an amalgamation of cultures that results in a melting pot.
A few reasons for Manyata Tech Park becoming a real estate investment hotbed are similar to those mentioned above. The tech park employees can live close by, thereby cutting down their commute time and fuel consumption. Additionally, most of their co-workers will also live close by, maybe in the same complex or another, creating a shared community feeling. People tend to feel safer in familiar surroundings with familiar people. But there are also a few other reasons.
A major reason to invest in a flat near Manyata Tech Park, or near any IT park, is because they will soon become a developmental hub. The current real estate prices will easily double or triple soon once all amenities and facilities are established nearby. Also, the ORR offers excellent connectivity to the main city or an exit to travel out of the city. Manyata Tech Park’s location is at the intersection of Thanisandra Main Road and the ORR. This intersection offers excellent connectivity to the city and also to Kempegowda Airport via the Bellary Road.
Additionally, the government has also approved metro lines in the locality for better connectivity. The area around Manyata Tech Park is all set to become a vital center of development in a few years, making real estate prices skyrocket. Investing in nearby properties is a sure-fire and hefty investment for the future.