Bengaluru's NW Corridor may see 16-19 mn sq ft commercial stock by 2030

Bengaluru’s North-West Corridor, specifically Tumkur Road, can anticipate a commercial stock of 16 to 19 million square feet by 2030, with an incremental demand of 5 to 8 million square feet, according to a recent study conducted by Brigade Group and Meraqi Advisory.

 

The region is emerging as one of Bengaluru’s fastest-growing secondary business districts (SBD), driven by rapid real estate activity and infrastructure development, the report shows. This transformation is unlocking its potential to attract residential and commercial investments.

 

“North-West Bengaluru is poised for growth with already-in-place infrastructure, especially when it comes to public transportation and metro connectivity. This micro market is developing as an ecosystem that is conducive to attracting a talent pool with the influx of hotels, retail and F&B spaces,” said Nirupa Shankar, joint managing director, Brigade Group.

 

By 2030, North-West Bengaluru is expected to require 10,000 additional residential units, driven by strong real estate activity from Grade A developers. The region’s affordability compared to Hebbal and the city centre has fuelled demand for premium office spaces, with limited supply further intensifying interest. Enhanced connectivity via metro, expressways, the upcoming Peripheral Ring Road (PRR), and the Bengaluru–Mumbai Industrial Corridor (BMIC) is set to accelerate its growth.

 

“We believe that this region is the next attractive location for global companies. While it is a relatively new location for office, Grade A office players are now setting up high-quality workspaces. Land values are expected to appreciate at an average rate of 10 per cent per annum, with the high demand for land in this area. Brigade has developed Brigade Twin Towers, a Grade A office campus spread across 12.95 acres, an IGBC Gold pre-certified project with over 50 per cent open green spaces and varied amenities to cater to the projected demand of the area,” Shankar added.

 

With a population of 11.6 lakh, the region’s socio-economic landscape is evolving, driven by a threefold increase in healthcare, retail, and office space—from 2 million square feet in 2018 to 5.13 million square feet in 2024.

 

The North-West Corridor, particularly Yeshwanthpur, benefits from industrial proximity and a growing job market, led by information technology/information technology-enabled services (IT/ITeS), consultancy, and engineering sectors. Recent office leasing trends show strong demand for small-format spaces, with 58 per cent of transactions ranging between 2,500–10,000 square feet.

 

In 2024, flex space absorption in Bengaluru's Grade A offices was 12.5 million square feet, which was a 45 per cent increase from the previous year. This demand has trickled to this micro market as well, and the demand for managed offices has seen a significant rise. Brigade offers its managed and flexible office solution — BuzzWorks — across assets in North-West Bengaluru, and has leased managed office seats of almost 1 lakh square feet in the last six months of 2024,” Shankar added.