Latest news with #STRR
Hindustan Times
24-05-2025
- Business
- Hindustan Times
Bengaluru real estate: Real estate prices soar in Devanahalli as Foxconn's iPhone plant takes shape
With Foxconn's iPhone manufacturing facility in Devanahalli, Bengaluru, nearing completion, the city's northern corridor is witnessing a surge in real estate activity. According to real estate experts, iPhone production is expected to begin by early June, sparking increased demand for residential and commercial properties in the area and a rise in land prices. The growth is being driven by expanding job opportunities and infrastructure investments. Sharing the update on X (formerly Twitter), Karnataka Industries Minister M.B. Patil said, 'Apple CEO Tim Cook has confirmed that, in the June quarter, most iPhones sold in the United States will be manufactured in India.' As part of its expansion plan, Foxconn is also building worker dormitories on its 300-acre iPhone manufacturing campus in Devanahalli. According to The Economic Times, the facility will house around 30,000 workers, making it the largest of its kind in India. Construction is progressing swiftly and is expected to be completed by year-end. Real estate experts note that Foxconn's upcoming facility is already fueling demand for residential and commercial properties in Devanahalli, driven by rising employment opportunities and infrastructure development. 'There has been significant land price appreciation in Devanahalli. Since Foxconn's entry, property rates have surged by at least 30–35%,' Ashish Sharma, City Head – Bengaluru at ANAROCK Group, told Also Read: Bengaluru real estate: Is Devanahalli the IT capital's Gurugram in the making? 'Developers are increasingly using phrases like 'just 10 minutes from Foxconn' to market their projects,' said Manjesh Rao, chief real estate officer at BrokerinBlue. 'This strategy is proving effective in drawing investors eager to tap into the rapidly growing ecosystem around the facility.' Devanahalli is emerging as a prime investment hotspot, driven by major infrastructure projects such as Kempegowda International Airport, the Satellite Town Ring Road (STRR), and upcoming IT and business parks. So rapid is its transformation that local brokers now refer to it as 'the poster boy of North Bengaluru.' According to ANAROCK data, land prices in the area have surged by 30%–40% in the past year alone, doubled over the last three years, and increased by as much as 150%–175% over five years. 'Infrastructure developments like the airport, STRR, and planned IT parks are major growth drivers,' said Sharma. 'Devanahalli's proximity to the airport, the upcoming Phase 2 of Namma Metro, and the presence of SEZs and the BIAL IT Investment Region make it especially appealing to professionals seeking nearby housing.' Also Read: Devanahalli metro expansion: Will it fuel demand for real estate and ease infrastructure challenges in North Bengaluru? Plotted developments in Devanahalli are largely concentrated along the STRR, a 21-kilometre corridor stretching from Hoskote to the Tamil Nadu border. This corridor is also home to the upcoming Foxconn facility, said Rao. Plots along the STRR are currently priced between ₹5,500–6,000 per sq. ft. For Grade A projects, rates go up to ₹7,500–8,000 per sq. ft.,' Rao noted. 'However, inventory is limited, and due to strong demand and rapid development, land prices along this corridor are appreciating at an annual rate of 20%–28%.' In contrast, the IVC Road (Inter-Village Connectivity Road) in Devanahalli is home to most of the luxury villa developments. "These are premium offerings, with prices starting at ₹5 crore for a 2,400 sq. ft. villa. Newer launches include White Lotus, a boutique project with villas starting at ₹6 crore, and luxury developments like Sobha Oakshire and Sobha Lifestyle, both priced above ₹5 crore," said Rao. Prices have seen a sharp rise in the past one to two years, said Kiran Kumar, vice president of Hanu Reddy Realty. He pointed out that a villa in Brigade Orchards that was priced at ₹2.5–3 crore a year ago is now being sold for ₹5 crore. Similarly, a plotted development project which was priced at ₹2,200–2,500 per sq. ft. in 2022, is now selling for over ₹8,000 per sq. ft. As for apartments, brokers say they are mostly located in Devanahalli's core residential zones. "The entry-level price for a 2BHK apartment in Devanahalli is around ₹80 lakh, while a 3BHK in a premium development can go up to ₹1–2 crore," said Kumar. Also Read: Bengaluru real estate: Where can you buy plots for less than ₹1 crore in north Bengaluru? Data from NoBroker showed that average rent inflation in Bengaluru from 2024 to 2025 has been about 10%. But in the North Bangalore Devanahalli region, it is 30%. "A 2BHK that was previously rented for ₹12,000–13,000 now commands around ₹25,000 in gated communities. Residential rental yields currently range between 1% and 3%," Kumar said. Villas are also performing well in the rental market, with entry-level rentals starting at ₹1.5 lakh per month, while high-end properties like Sobha Lifestyle can fetch up to ₹2.5 lakh per month. These premium homes are typically rented by expats, CXOs, and senior professionals, although brokers said there is also a noticeable presence of blue-collar workers in some parts of Devanahalli, said brokers. "The share of project launches in North Bengaluru has increased from 23% in 2023 to 31% in 2024. In fact, apartment listings on our platform for Devanahalli have increased by 30% this year," said Saurabh Garg, co-founder and chief business officer, NoBroker. Due to aviation safety concerns near Kempegowda International Airport, Devanahalli is subject to building height restrictions. 'Developers in the area are typically allowed to build up to seven floors, making the region more suitable for plotted and villa developments. One key limitation, however, is the lack of multi-speciality hospitals—only a few smaller healthcare facilities are currently available,' Kumar said. 'That said, most upcoming Grade A townships in the region plan to include hospitals within their developments.' On the education front, the area is well-served with institutions like GITAM University, Harrow International School, Amity University, and Chanakya University operating nearby.
Yahoo
14-05-2025
- Business
- Yahoo
Star Equity: Q1 Earnings Snapshot
OLD GREENWICH, Conn. (AP) — OLD GREENWICH, Conn. (AP) — Star Equity Holdings, Inc. (STRR) on Wednesday reported a loss of $1.2 million in its first quarter. The Old Greenwich, Connecticut-based company said it had a loss of 37 cents per share. Losses, adjusted for one-time gains and costs, came to 52 cents per share. The diagnostic services and imaging company posted revenue of $12.9 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on STRR at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
14-05-2025
- Business
- Washington Post
Star Equity: Q1 Earnings Snapshot
OLD GREENWICH, Conn. — OLD GREENWICH, Conn. — Star Equity Holdings, Inc. (STRR) on Wednesday reported a loss of $1.2 million in its first quarter. The Old Greenwich, Connecticut-based company said it had a loss of 37 cents per share. Losses, adjusted for one-time gains and costs, came to 52 cents per share.
India Today
08-05-2025
- Politics
- India Today
DK Shivakumar proposes dedicated flyover from Hebbal to Bengaluru airport
Karnataka Deputy Chief Minister DK Shivakumar urged the Centre to lend its support to several key infrastructure projects in Bengaluru, including a dedicated flyover between Hebbal Junction and Kempegowda International Airport, citing the city's rapid development and growing traffic who also oversees Bengaluru Development, met with the Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi, presenting an appeal to expedite projects that are crucial to the city's the key projects highlighted were the upgrade of the Bengaluru-Kanakapura road to six lanes, completion of the stalled 7 km stretch of NH 209, the release of compensation to farmers affected by the Satellite Town Ring Road (STRR) project, and the dedicated OF NH 209 Shivakumar requested the Centre's assistance in upgrading the Bengaluru-Kanakapura highway (NH 209) from four lanes to six, with service roads. He emphasised that the development of industrial areas, particularly in Harohalli, has resulted in increased traffic and highlighted the need for measures to ensure smoother movement and improved OF KAGGALIPURA ROADWORKHe also appealed for the completion of the 7-km section of NH 209 from Ravi Shankar Guruji Ashram to Kaggalipura Toll, which has been delayed due to objections from the National Green Tribunal. This stretch, he said, has become a major bottleneck, contributing to severe congestion. This could also smoothen the process for Karnataka to push for the second airport in FOR SATELLITE RING ROAD PROJECTadvertisementThe appeal also called for prompt compensation to farmers who lost land for the Satellite Town Ring Road (STRR) project (NH 948A). The project, aimed at improving connectivity between key towns, has been delayed due to pending compensation payments, which have caused significant hardship for the affected FROM HEBBAL TO AIRPORTShivakumar urged the construction of a dedicated flyover between Hebbal Junction and Kempegowda International Airport, pointing to the heavy traffic congestion caused by the rapid development in the area. A flyover, he said, would help streamline traffic, reduce travel time for airport commuters, and ensure smoother movement for both local and industrial traffic. IN THIS STORY#Karnataka
Hindustan Times
08-05-2025
- Business
- Hindustan Times
DK Shivakumar proposes dedicated flyover from Hebbal to Bengaluru airport, writes to Nitin Gadkari
Bengaluru may soon get a dedicated elevated flyover connecting Hebbal Junction to Kempegowda International Airport, as Deputy Chief Minister DK Shivakumar has pitched the ambitious proposal to the Union government. In a letter addressed to Union Road Transport and Highways Minister Nitin Gadkari, Shivakumar underlined the urgent need for seamless connectivity to the rapidly growing international airport. Karnataka deputy CM DK Shivakumar. Also Read - Karnataka government to act on Centre's advisory amid tensions with Pakistan 'The 35-km corridor from Hebbal to the airport is choked with traffic due to rising industrial activity and the emergence of commercial hubs. Although there is an existing elevated road, its efficiency is compromised by traffic signals and pedestrian crossings,' Shivakumar wrote. He added that a signal-free, dedicated flyover would drastically cut travel time for airport passengers, industrial freight vehicles, and daily commuters. The proposal comes amid increasing concerns about Bengaluru's traffic woes, especially on arterial routes leading to the airport. Shivakumar emphasised that the new flyover could serve as a critical lifeline for the city's mobility, given the surging passenger numbers and airport expansion plans. Crucial meetings in New Delhi Apart from this, the Deputy Chief Minister urged the Centre to expedite work on other critical road and metro infrastructure. He called for the widening of the Bengaluru–Kanakapura highway into a six-lane road and demanded the completion of a 7-km stretch that connects the toll plaza at Kaggalipura on the city's outskirts. Also Read - Newly appointed BBMP chief launches drive to fix Bengaluru footpaths, prioritise pedestrian safety Raising concerns over long-standing compensation issues, Shivakumar pressed the Centre to release funds for families affected by land acquisition for the Satellite Town Ring Road (STRR). Despite construction beginning in 2009, many landowners along the Dobbspet–Magadi–Ramanagara–Harohalli route are still awaiting compensation. One of the most ambitious proposals discussed was the construction of a 60-km tunnel road to link Bengaluru's east-west and north-south corridors. Estimated to cost ₹ 30,000 crore — about ₹ 500 crore per kilometre — the tunnel would connect NH-7 and NH-4, offering a potential gamechanger in tackling the city's chronic traffic bottlenecks. Shivakumar sought financial backing from the Union government to enable the National Highways Authority of India (NHAI) to implement the tunnel project in partnership with the state. In addition, Shivakumar met Union Housing and Urban Affairs Minister Manohar Lal Khattar to discuss the progress and future plans of the Bangalore Metro Rail Corporation Ltd. He urged the Centre to clear the proposed 44.65 km stretch under Namma Metro Phase 3. A Detailed Project Report (DPR) is also being prepared for another 37 km of expansion, which is expected to boost mass transit in the city significantly.
