Bengaluru real estate: Is Devanahalli the IT capital’s Gurugram in the making?
Devanahalli is transforming into a real estate hub, driven by infrastructure development and tech investments. Experts say it could become Bengaluru's Gurugram
With projects like the Kempegowda International Airport, the Satellite Town Ring Road (STRR), and the proposed IT and business parks, Devanahalli is gradually evolving into a prime investment hub. However, while it shows potential to become a business and residential hotspot like Gurugram, its growth trajectory depends on sustained infrastructure expansion, job creation, and investor confidence, experts said.
A recent post on X noted that Deveanahalli’s expansion has gained pace as autopilot and is seeing notable progress exactly 15 years after the airport came into operation. Emerging as Bengaluru’s Gurugram, the KA government safeguards local livelihoods as farmers part with their land for industries.
It said that the micro market requires a long-term infra plan …strict FAR regulations based on road width are essential to ensure planned development and that it must not become another Marathahalli, BTM or Whitefield.
Devanahalli’s real estate market
Devanahalli has seen a 15-20% rise in property values over the past two years, driven by large-scale infrastructure projects and upcoming tech parks announced by the state government, experts add. "The property prices in the region are projected to rise further by 8-12% annually,” according to Amar Mysore, president of CREDAI Bengaluru.
"As investment pours in and connectivity improves, Devanahalli is on track to become a key economic and residential hotspot. In the next five years, we may see Devanahalli becoming the new Gurugram to Bengaluru," Manjesh Rao, chief real estate officer at BrokerInBlue said.
Devanhalli’s housing projects
Devanahalli primarily attracts investments in plotted developments, townships, and smaller commercial projects. The apartment culture is yet to gain traction in the area, but with increasing employment opportunities, apartment demand is expected to rise, say real estate experts.
Plot prices in Devenahalli hover around ₹5000-7000 per sq ft, depending on the location. "Off the Satellite Town Ring Road in Devanahalli, the plot prices are around ₹7000 per sq ft, and no land is available on the STRR stretch. However, we see resale of plots happening at ₹9000 per sq ft," Rao said.
On March 25, Arvind SmartSpaces Limited (ASL) announced the complete sell-out of its residential plotted development, Arvind The Park, in Devanahalli. The project, comprising 200 units, generated sales worth over ₹180 crore.
Brigade Group has launched Ebony at Brigade Orchards, a premium residential project within its 135-acre township. The development includes 230 units across four blocks, spanning 0.5 million square feet.
In the plotted development sector, the Bengaluru-based Sattva Group pre-sold nearly half of the 343 plots in Sattva Bhumi before its official launch in December last year. Ready-to-move-in projects such as Sattva Cubix, Godrej Royal Woods, and Brigade Orchard Goldsphire are currently available with prices between ₹75 lakh to ₹1.5 crore for 1, 2, and 3 BHK apartments, as per 99acres.
According to ANAROCK data, Devanahalli's property prices have grown 49% in the last six years—from ₹4,982 per sq ft in 2019 to ₹7,400 per sq ft in July 2024.
Devanahalli accounted for approximately 15% of the residential supply in North Bengaluru from 2016 to 2023, with 13,600 units supplied during this period. Focused on the mid-segment, the locality offers accessible housing options to a diverse range of buyers, ANAROCK said.
For apartments, new launches start from ₹1 crore and go over ₹4-5 crore in the area. "In Devanahalli, township projects like Brigade Orchards offer apartments priced around ₹1 crore. With vast land parcels available, the area is shaping up as a potential future Gurugram, attracting developers planning integrated townships with malls, villas, entertainment hubs, and other modern amenities. Currently, residential investment has an annual return of 15-20% annually in the area," Rao said.
The Brigade Atmosphere project has 2,500 sq ft homes listed at ₹2.8 crore on the outskirts of Devanahalli. Meanwhile, villas on IVC Road are priced at ₹5 crore for a 3,400 sq ft row house. Other projects, like the House of Hiranandani Devanahalli, is currently selling for ₹10,000 per sq ft, he added.
For rentals, Kumar added that a 2BHK apartment that was renting around ₹18,000 per month last year is being rented out at ₹25,000 per month in the area.
Infrastructural boost major driver of Devanahalli’s real estate market
Karnataka's large and medium industries and Infrastructure development minister, MB Patil, announced on social media platform X on March 20 that the government will set up a deep-tech park in Jangamakote, about 25 minutes from Devanahalli.
"Jangamakote in Chikkaballapur will be developed as a leading deep-tech park for space technology, semiconductors, robotics, medical devices, electric vehicles, drones, and high-tech manufacturing in electronics, aerospace and defence," Patil had said.
Whenever a tech park is established, residential demand in the surrounding area rises significantly. People prefer to live closer to their workplace to avoid long commutes and improve their work-life balance. As a result, the areas within a 10-kilometer radius of the tech park witness rapid development, with increased housing projects and infrastructure growth, as we saw in the case of the Manyata Tech Park launch in early 2000, Rao said.
The rapid growth of Devanahalli’s real estate market is also largely driven by the expansion of Kempegowda International Airport. The development of Terminal 2, enhanced cargo operations, and proposed aerotropolis plans are set to increase air traffic and generate new job opportunities significantly.
Last year, Prime Minister Narendra Modi inaugurated a key section of Bengaluru’s ambitious Satellite Town Ring Road (STRR) project—the Dobbaspet-Doddaballapura-Hoskote stretch. Developed by the National Highways Authority of India (NHAI), the STRR aims to improve road connectivity between Bengaluru and its surrounding satellite towns, including Doddaballapur and Devanahalli, approximately 30 kilometres apart. Additionally, the project enhances links between Bengaluru and Andhra Pradesh, boosting regional accessibility and infrastructure.
In the Karnataka Budget 2025, Chief Minister Siddaramaiah proposed an extension of Namma Metro to Devanahalli. This long-awaited expansion will address last-mile connectivity issues, making the region more accessible and spurring demand for residential and commercial developments, real estate experts said.
Major corporate relocations and strategic investments further drive the demand surge. Amazon India recently moved its office operations closer to the airport, significantly boosting real estate activity in the area. Additionally, Kiran Kumar, vice president of Hanu Reddy Realty, said that Foxconn’s recent land acquisition near Devanahalli for an upcoming iPhone manufacturing facility has added further momentum to property investments in the region.
