Job Growth Around Aerospace Park & Its Impact on Housing Demand
Aerospace Park is a powerhouse that transforms Karnataka into India’s aerospace capital. The growth of global giants like Airbus, Boeing, and HAL drives job creation and results in increasing real estate growth. With a vision to generate 300,000 jobs, the Aerospace Park is rewriting the future of North Bangalore. This increase in jobs creates a demand for real estate properties.
Aerospace Park spans over 3000 acres, and it has hi-tech, hardware, and defence parks. It also caters to industries like electronics, automotive, and aerospace.
Some of the job hubs around the KIADB aerospace park location are
- Airbus: It is an aerospace giant with R&D operations.
- Rolls Royce: It has partnered with HAL for a joint venture in the engine business.
- Wipro: It is placed at Plot No 21, and has aerospace systems
- Thyssenkrupp: Makes aero gears.
- Centum Electronics: It exports 95% of aero electronics.
- HAL: It is India’s leading aerospace creator. It has a capacity for helicopter cabins over 100 acres.
- Boeing: It is a leading global company that designs and sells planes. It has invested ₹1,600 crore in a 43 acres engineering centre.
- Starrag India: Produces precision machining tools
- Dynamatic: It produces cabins for Bell Helicopters. It gives ₹2,000 crore in sales with jobs for 2,500 people.
- SASMOS: It produces aerospace cables.
All these jobs in the Aerospace park in Bangalore have created an impact on housing demand in the area. The SEZ’s job creation, estimated at 300,000 jobs by 2030, has spurred high end projects like Purva Northern Lights , offering 2, 3, and 4 BHK flats from 1010 sq. ft to 2400 sq. ft. These projects cater to the people working in the nearby job hubs with world class amenities and meet the real estate demand.
The price of real estate properties near Aerospace Park Devanahalli ranges from ₹5,000 to ₹13,000 per sq. ft. There is a 46% price increase in 2 to 3 years. The Aerospace park’s job creation upgrades housing demand and offers investors 15% annual returns and 20% rental yield growth by 2026.
Many new companies like the World Trade Centre, the BCCI centre, and research centres are planned. It will further increase the demand for real estate. Investing near Aerospace Park is the best choice as it is more than an industrial park, and it is a vision for North Bangalore’s future.
The Aerospace park’s job growth has sparked a real estate frenzy in North Bangalore. Many residential projects are built by reputed builders to cater for the influx of IT professionals. With game-changing projects like the Metro and smart city initiatives, buying properties near Aerospace Park will give high profits for investors. If you are eyeing to invest in real estate properties near the aerospace boom, it is the best time to invest to get a high ROI.
