The growth of Malleswaram from a sleepy hub to an emerging hotspot
We bring to you a story, that traces the growth of Malleswaram from a sleepy little hub to an emerging hotspot in North Bangalore.
Malleswaram is developing at a break-neck speed but it still manages to retain its old world charm. A walk down Sampige Road and you can see a huge crowd of hip, 20 something girls and boys hanging out at the local eateries or busy shoppers making a beeline to high-end branded showrooms spread across the entire length and breadth of the road. Walk a little further and the iconic Mantri Mall greets you at the very entrance of Sampige Road, though it chokes the traffic and brings it to a halt at all times of the day, somehow people seem to throng this mall with great passion. Beyond the mall though, the road is still lined with small dingy shops in stark contrast to the almost larger than life structure of the mall.
Welcome to Malleswaram….an erstwhile hub of temples, trees and tasty oota that is now in the midst of a huge infrastructural transformation! Spread across from the Link Road in the East to the Railway line on the West and flanked by CV Raman Road in the North and Mahakavi Kuvempu Road in the South, today Malleswaram broadly comprises of areas like Sadashivnagar, Seshadripuram, Sripuram, Kumara Park, Vyalikaval, Subramanyanagar, Rajajinagar and even parts of Yeshwantpur. “Malleswaram is one of the older localities in Bangalore with good social infrastructure. Given that it is a very old colony, land is scarce as most of it has already been developed. But it is on the throes of development as builders are making a beeline for properties here,” appraises a senior manger of a leading real estate consultancy.
“In the last five to six years, the locality has undergone a sea change. A lot of old buildings, particularly large bungalows have been razed down and very high-end commercial and residential buildings have come up which have changed the very face of Malleswaram,” explains Bijay Aggarwal, Managing Director, Salarpuria Sattva Group. There are a lot of new projects coming up like Mantri Greens, an integrated township project by Brigade Gateway and Embassy Heritage by the Embassy group. A few other builders have also got projects in the pipeline, including Salarpuria Sattva who plan to launch high-end apartments called Luxuria shortly.
“Malleswaram has developed into an alternate CBD today providing quality residential developments, commercial offices and glitzy malls with good retail options. One of the main reasons why Malleswaram is witnessing a huge facelift as compared to other older localities of the city like Basavanagudi is its proximity to CBD. Malleswaram is also the beginning of North Bangalore where the future of Bangalore’s real estate lies,” explains T S Sateesh, Managing Director, Hoysala Projects.
Another reason for the development in the area is its huge contribution to the IT industry. “Nearly 30 to 40% of IT employees are from this neighborhood. Their exposure to modern developments abroad and demand for quality residential space has pushed up the real estate development in this area,” he adds. However residents in the locality though still like it for its old world charm. “Despite the change it is witnessing, Malleswaram retains the flavor of good old Bangalore. People still queue up during weekends to savor hot idlis at the Veena stores or the lip-smacking dosas at CTR on Margosa Road which is one of the best in the city!” says K S Narahari, Director- Corporate Communications at Texas Instruments who has been living in Malleswaram for the last 30 years.
Residential apartments in the locality command a very good value particularly those who offer the latest amenities. Prices for residential built up range from Rs. 6000 – Rs. 8000 per sqft, depending upon the type of construction. Rates for commercial leasing range from anywhere between Rs. 50- 100 per sqft. With the Metro work almost nearing completion, the new Expressway on NH4 leading to faster entry and exit to and from here and the proximity to the International Airport, Malleswaram is the new gateway to North Bangalore which is fast emerging as one of the most sought after hotspots of the city!