The Sarjapur ORR stretch, located southwards post the Marathalli ORR stretch, is another preferred office destination in Bangalore. With a total operational office space of approximately 20 million sq ft, Sarjapur ORR is a host to many of the leading names in the country. As a matter of fact, Sarjapur ORR accounted for 34% of the total office space absorption in Bangalore in Q2 2017 (April-June), the highest share amongst all competitive office micro-markets during the period.
Sarjapur ORR has flourished over the years due to the well-developed civic and social infrastructure, that include malls and other retail developments, hotels, educational institutions, availability of contiguous land parcels, multi-tenanted IT parks and notable office projects. Proximity to major residential markets towards the South has also added to its locational appeal.
While the ORR itself is a significant infrastructure project that connects Bangalore laterally, connectivity is further enhanced with the signal free corridor initiative, that has reduced travel time considerably. Most of the high-traffic junctions now have flyovers or underpasses, another step towards easing the flow of traffic, especially during peak traffic hours. The upcoming metro rail project along the ORR is also expected to further strengthen connectivity and help de-congest the region.
Currently, the office rental values are in the range of INR 60-85/sq ft, having witnessed an annual average rental appreciation of approximately 9%. Going forward, demand is expected to remain robust in the region and will continue to be a sought-after office destination, making it an attractive option for companies seeking to consolidate their operations or looking for larger work spaces.