Ulsoor, Bengaluru: Good location for small offices and start-up companies

Ulsoor is one of the oldest and prominent neighbourhoods in Bengaluru. In the heart of the city, Ulsoor enjoys great connectivity with all city centres. Advent of the metro rail around this micro market is a major reason for the rise in property values here. The two metro stations around Ulsoor, at Old Madras Road, which is closer to M G Road and the second metro station at C M H road will also act as catalysts to improve connectivity.

Ulsoor is established on the social and general infrastructure front, with numerous malls, shopping complexes, hospitals, schools and hotels in close vicinity. Property prices in Ulsoor have almost doubled over the medium term. The property prices in Ulsoor are currently between Rs 5,600 and Rs 7,000 a sq ft depending on project and specifications, with annualised appreciation of 12-15 per cent depending on the type of the project and amenities offered.

Apart from influence of the metro rail, the floor area ratio was raised to four from 3.2 in Ulsoor, and this has intensified development activity in this location. An elevated flyover of 5.7 km is proposed from Richmond Road to Ulsoor, which will further improve its connectivity and solve some of the traffic problems it currently faces.

Ulsoor is also renowned for its temples and the bustling narrow streets that make up the famous Halasoor market. Today, it is also defined by bright lights and attractive displays of the local supermarkets. Proximity to the bustling retail corridor of M G Road is an added advantage, and the area also offers major attraction centres such as Halasuru Lake. A Hilton hotel is also under construction here, and this is likely to attract more commercial and retail activity in Ulsoor.

The advantage of proximity to key locations in both residential and commercial sectors such as M G Road, Indira Nagar, Cox Town and Frazer Town has helped in developing the real estate profile of Ulsoor. Going forward, this micro market has immense potential for commercial activity.

Ulsoor can be a good location for small offices and start-up companies, as it is located close to the central business district, while commercial property prices are much lower than in the latter.
The writer is associate director, research & real estate intelligence service at JLL India