bengaluru the southwestern extension of purple line and the 10lane bengalurumysuru expressway are likely to boost the real estate sector especially projects along mysuru roadwhile the mysuru roadkengeri metro corridor will commence operations on monday the expressway is likely to be ready by october 2022 mani rangarajan group coo housingcom makaancom proptigercom said metro services along mysuru road will improve connectivity of kengeri and surrounding places like kumbalgodu and bidadi with major commercial areas in central business district also localities around metro corridors come under ambit of the transitoriented development tod policy that encourages highdensity and mixeduse residential areas which further enhances the permissible floor area ratio the presence of metro and tod will prove beneficial for localities along the mysuru roadkengeri section he explainedoverall post completion of the first phase there is a likelihood of around 30 increase in residential absorption in offcentral and west areas apart from premium and luxury segments there would be products such as micro units professional housing serviced apartments and rental housing said rangarajanphilip mathan vp of commonfloor a quikr company said the most significant contributor to the transformation of mysuru road is the number of investments coming from the private sector as global tech village one of the largest software and it parks is located here since then its commercial infrastructure has been growing with several restaurants hotels resorts multiplexes and malls along with a number of good schools colleges hospitals bus stands and parks to complement this growth several reputed developers have set up residential complexes on a large scale in the arearent prices of apartments saw an 11 yearonyear increase similarly villa and bungalow rentals saw a 195 yoy surge in cost when it comes to sale the locality witnessed a 37 increase in cost of apartments said mathanfew firms tie up with bmrclthough many real estate firms take advantage of metro connectivity only a few have tied up with bmrcl while embassy group is funding kadubeesanahalli and bettahalasur stations under metros innovative financing concept prestige group is funding kodibisanahalli station other private firms collaborating with bmrcl are intel technology bellandur infosys foundation konappana agrahara metro station and biocon hebbagodiinfosys and biocon are csr trusts they are not marketing anything the other three have committed signed mou to contribute embassy and prestige have given lands also at one location each free of cost said a bmrcl officialasked about real estate firms benefiting from metro connectivity he said through new projects they will have to contribute to metro projects suitable provisions in karnataka town and country planning act and rules have been made or are under wayfor firms a metro line passing through their area would mean less traffic congestion and a safe and faster travel alternative for their employees besides a chance to be part of the infrastructure project bmrcl also offers naming and advertisement rights besides providing retail space in stations for 30 years it will allow direct access from stations to private properties via ramps and walkways all