- By Nidhi Giri
- Mon, 06 Jan 2025 10:57 AM (IST)
- Source:JND
Bengaluru-Mangaluru Expressway: In a major update for those having land along the Bengaluru-Mangaluru Expressway, the property and land rates in the area have skyrocketed. After the success of the Bengaluru - Mysuru Expressway, the National Highways Authority of India (NHAI) has now prepared a master plan for the construction of the Bengaluru-Mangaluru Expressway. Land prices have touched new high in the wake of the construction of the second airport in Bengaluru and various expressways in Karnataka.
Bengaluru-Mangaluru Expressway Details
This project has many objectives including reducing travel time between the two cities, increasing exports and increasing industries in Bengaluru and Mangaluru. The DPR for this project is already being prepared.
Meanwhile, the land prices on the routes where the Bengaluru-Mangaluru Expressway will pass have increased suddenly. When any major project comes up, the land prices and properties rates naturally skyrocket. The same is happening with this project too.
Land prices are increasing due to the highway construction project. Land prices have risen in many parts of Mangalore, including Kottara, Alpe, Pumpwell, Pitrodi and Neeru Marg. Similarly, land prices have increased in various parts of Bangalore.
Bengaluru-Mangaluru Expressway Land Prices
The price of 1.25 acres of commercial land in Kottara, Mangaluru has increased to Rs 37 crore. Meanwhile, the price of 20 cents of land on the Alpe Padil main road here is estimated to be selling for Rs 4.25 crore.
The prices of old houses for sale near Pumpwell Highway in Mangaluru and the price of land have also increased. Nine cents of land is being sold for 1.35 crore. Real estate entrepreneurs are saying that the price of land and properties in Katpadi near Pitrodi Highway and along the waterway has seen a major rise.
Bengaluru Property Prices
In Bengaluru, property prices have increased in various areas including HSR Layout and Koramangala in the last three months. Also, real estate in Bengaluru has got a boost due to many reasons including the second airport in Bengaluru and the Pune Expressway and the Bengaluru-Mangaluru Expressway. Real estate in Bengaluru has been recovering for the last two years.