Nagawara-Hebbal Corridor Emerges as Major IT Hub With GCC Growth From Target, TVS Motor and More: Are Property Prices Already Rising?
As Bengaluru’s office market continues to expand, new commercial corridors are emerging beyond the city’s traditional IT hubs. The Nagawara-Hebbal stretch is gaining prominence with major Grade-A office developments, established business parks and strong connectivity through the Outer Ring Road and Bellary Road (NH-44). The corridor also provides access towards Kempegowda International Airport, while the recent 13.6 lakh sq ft office leases by Target and TVS Motor further highlight the growing corporate activity in the area.
Why Nagawara-Hebbal Is Emerging as a GCC Corridor
The Nagawara-Hebbal stretch is gaining attention due to its large Grade-A office developments, established business parks and strong connectivity. The presence of major occupiers such as Target and TVS Motor, along with office hubs such as Manyata Business Park and Gardencity IT Park, is further strengthening its GCC profile.
Target Leases 8.31 Lakh Sq Ft at Manyata Business Park
One of the biggest office transactions in the corridor is Target’s lease at Manyata Business Park. Target has leased around 8.31 lakh sq ft of office space for a 10-year period. The lease has a reported rental commitment of nearly ₹1,250 crore, with monthly rent of around ₹8.73 crore. Located in Nagawara, Manyata Business Park is a major Grade-A office hub in North Bengaluru, with a large concentration of global companies and GCC operations. The large Target lease further strengthens Manyata Business Park’s position as a major GCC anchor in the Nagawara-Hebbal corridor.
TVS Motor Leases 5.29 Lakh Sq Ft at Gardencity IT Park
The corporate activity in the corridor extends to Hebbal, where TVS Motor has leased around 5.29 lakh sq ft of office space at Gardencity IT Park for 10 years. The lease has a reported monthly rent of around ₹4.7 crore, adding another major corporate occupier to the Nagawara-Hebbal corridor.
Major Office Developments Along the Corridor
Several large office developments are supporting the growth of the Nagawara-Hebbal corridor as a corporate and GCC hub in North Bengaluru.
Embassy Manyata Business Park: Located in Nagawara, the business park spans around 16.2 million sq ft and is one of Bengaluru’s largest office campuses. It houses several global companies and GCCs, with Target recently leasing around 8.31 lakh sq ft for its India GCC.
Brigade Magnum: Located in Hebbal, the Grade-A office development offers around 5.5 lakh sq ft of workspace. The project is located along the International Airport Road and is close to Manyata Tech Park and Kirloskar Tech Park.
Karle Town Centre : Located near Nagawara, the 62-acre mixed-use development includes a dedicated office precinct. It is positioned next to Manyata Tech Park and around 2 km from Hebbal Flyover, adding another commercial hub to the corridor.
Kirloskar Business Park: Located in the Hebbal area along Bellary Road, the office development forms part of the established corporate cluster around the Nagawara-Hebbal corridor and is close to Manyata and Karle Town Centre.
Gardencity IT Park: Located in Hebbal, the office development has recently attracted TVS Motor, which has leased around 5.29 lakh sq ft of office space for 10 years, adding another large corporate occupier to the corridor.
Connectivity Supporting Nagawara’s Office Growth
The Nagawara-Hebbal corridor benefits from a combination of metro, road and airport connectivity, which can improve accessibility for companies and employees.
Blue Line: Nagawara is part of Bengaluru’s upcoming Blue Line metro corridor, which will improve connectivity towards the airport and other key areas.
Bellary Road/NH-44: Connects Hebbal with North Bengaluru and Kempegowda International Airport.
Outer Ring Road (ORR): Connects Nagawara and Hebbal with major employment and commercial hubs across Bengaluru.
Thanisandra Main Road: Connects Nagawara with Manyata Business Park and residential areas in North Bengaluru.
Hebbal Junction: Acts as a major interchange connecting NH-44, ORR and roads towards central Bengaluru and the airport.
Kempegowda International Airport: Around 30 km from Hebbal by road, providing connectivity for business travel.
Together, these transport links improve employee accessibility and connect the corridor with major residential, commercial and employment areas across Bengaluru.
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Real Estate Impact
The large Target and TVS Motor leases add to commercial activity in and around Nagawara and Hebbal. Nearby residential markets currently have average property prices in the following range:
Nagawara: Average flat price is around ₹12,050 per sq ft, up 7.6% in the last 1 year and 7.1% in the last 3 years.
Thanisandra: Average flat price is around ₹11,900 per sq ft, up 7.7% in the last 1 year and 67.6% in the last 3 years.
Thanisandra Road: Average flat price is around ₹12,450 per sq ft, up 11.2% in the last 1 year and 56.6% in the last 3 years.
Hebbal: Average flat price is around ₹15,750 per sq ft, up 14.1% in the last 1 year and 57.5% in the last 3 years.
Hennur Road: Average flat price is around ₹11,200 per sq ft, up 10.9% in the last 1 year and 39.1% in the last 3 years.
The growing presence of large corporate occupiers, including Target and TVS Motor, along with improving connectivity, could support residential demand and real-estate activity across these surrounding locations.
Potential Impact of Target and TVS Motor Leases on Property Prices
The combined 13.6 lakh sq ft leases by Target and TVS Motor could strengthen Nagawara-Hebbal as a workplace destination and support demand for local housing and rental properties. Growing office activity may increase housing demand in well-connected areas such as Nagawara, Thanisandra and Hebbal. This could support residential demand and property values over the longer term, depending on office growth, housing supply and overall market conditions in Bengaluru.