Land Use Conversion Residential plots owe their classification to the original taxonomy of agricultural plot of land, as any parcel of land is originally known as. It becomes residential plot when the promoter or developer approaches the Revenue Department to convert the land use from one of agricultural use to non-agricultural use. DTCP’s ‘NOC’ After the land-use conversion, the developer or builder approaches the jurisdictional authority such as BBMP / BDA / BIAPPA / BMRDA for obtaining a Conversion Certificate for converting the land in to a gated community residential plot. The Jurisdictional Authority would in turn approach the Directorate of Town and Country Planning, to obtain a ‘No Objection Certificate’. The Directorate is empowered to assess the viability of the land in question to yield reasonable returns through agricultural use instead of residential/industrial/commercial use as the case may be. Conversion Certificate It is only when the DTCP issues its NOC that the Jurisdictional Authority would go about assessing the suitability of the land to get converted into a gated community’s residential plots. Here, the non-agricultural land site is surveyed by the developer and the laid out plan of enclosing the site within peripheral boundary walls and cut into plots of suitable sizes is provided. The Jurisdictional Authority evaluates the plan and arrives at a decision to approve or disapprove and accordingly decides to give or to deny a Conversion Certificate. Following are the localities or areas of Bangalore city that are most active in real estate dealings: 1. Indira Nagar Indira Nagar has seen the maximum appreciation of 375% in market capitalization as it is the most well developed locale. It is ensconced between Vimanapura, Ulsoor, Byappanahalli and Domlur. 2. Narasapura Situated close to KIA, this area is set to become a major manufacturing hub with KIADB allocating 685 acres of industrial land. 3. Hennur Located on the northern fringes of the city, Hennur comes with the double attraction of being in the vicinity of the Bangalore International Airport while affording access to the city centre that’s some half an hour drive away. The property rates in the area have soared in recent times thanks to the four lane highway that’s proposed for the cargo road to the Airport. The current prices for properties range from about Rs. 80 Lakhs to Rs. 1 Crore and are expected to see a rise of 15 to 20 % in the coming years. 4. Yelahanka Yelahanka is situated in North Bangalore, some 19 km away from the International Airport. The property prices began to rise after the airport came into existence. The Karnataka government has instituted a body the purpose of which is to develop North Bangalore as a business hub. This is expected to eventually generate 40 lakh jobs in the area in the coming two decades. This makes Yelahanka a great long-term investment prospect. 5. Devanahalli Devanahalli, located some 40 kms in a north eastern direction from Bangalore is fast evolving as an IT hub in the city. The presence of the multi-billion dollar Devanahalli Business Park, India’s second largest International Airport and also the proposal for a Rs. 1000 Crore upcoming financial city make Devanahalli an attractive prospect for the real estate investor. 6. KR Puram On East Bangalore, KR Puram is a good investment prospect. Located at the intersection of the Old Madras Road and the Outer Ring Road on NH 75, KR Puram is well-connected. It is also close to two major IT hubs-Whitefield and Manyatha Tech Park, which makes the location especially attractive for IT professionals. The widening of the Peripheral Ring road that is proposed will also add value to a property in KR Puram. 7. Sarjapur Sarjapur is one of the fastest developing locations in Bangalore as of now. Well connected to major localities like Whitefield, Electronics city and Koramangala and with a proposed IT SEZ by Infosys and the new corporate space of Wipro have all made this just about perfect for plotted investment. In addition, several reputed educational institutions and shopping centres etc. could be found here making Sarjapur all the more attractive plots for sale near sarjapura road 8. Hoskote While the recent bout of industrialization has up the ante for Hoskote, it is as a long term investment option that Hoskote will work best. Currently, it’s the government planned infrastructural development projects that are the mainstay here with a thriving residential population as well. The fact that the taluk lies between NH 4 and NH 207 attributes to its connectivity. 9. Whitefield Whitefield’s real growth story began in the 2000s with Bangalore’s IT boom. This is essentially a microcosm that has well-developed social and physical infrastructure amidst lush greenery. The presence of famed international schools and hospitals are also value add-ons. Some outstanding residential projects are already in place in Whitefield. Due to the presence of a thriving community of IT professionals Whitefield is a great rental market as well. A 11-14% of steady annual growth over years with more IT and infrastructure projects in the pipeline, this is one locality that’s going to stay investor-friendly. 10. Banashankari Banashankari situated in South Bangalore is considerably less ‘hip’ in terms of lifestyle options but what it lacks there it makes up for on the investment front, with a 10 to 15% annual appreciation. It is also listed among the 50 best investment destinations in India for the year 2015 by the financial information portal, moneycontrol.com. Banashankari is also Bangalore’s largest locality, stretching from Mysore Road to Kanakapura Road and with the city spreading out, this is one region that will see newer projects, and thereby more growth.