LOREM IPSUM DOLOR SITAMET

Lorem Ipsum

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series
September, 2010

Page | 1

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

ORR 2010 & Beyond

Hebbal

18.6
25%

million sqft of operational Grade A office

space

75%

of Bangalores total operational IT/ITeS SEZ

space

5%
95%

Marathahalli

of office space vacant as of H1 2010

of the office space occupied by IT/ITeS companies

3.3
Silk Board Jn.

28

Puram operational IT space

of BangaloresKRtotal

million sqft Grade A office space under

construction

million sqft planned Grade A office space

Page | 2

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Executive Summary
The Outer Ring Road stretch from Hebbal to Silk Board Junction, popularly referred to as ORR, has developed
in the last 10 years as an Information Technology (IT) growth corridor and accounts for almost 25% of
Bangalores total IT space. Currently, global IT clients such as IBM, Accenture, Cisco, Philips, Intel, Honeywell
and others operate in this micro market.
ORR scores over other IT growth corridors of Bangalore in terms of proximity to Central Business District
(CBD), availability of large land parcels, proximity to citys talent pool and favourable development
regulations. Ongoing infrastructure works aimed to transform the ORR into a signal free corridor and the
upcoming hotel and retail projects will further enhance connectivity and support infrastructure in this micro
market.
ORRs IT growth corridor story commenced in early 2000s with land acquisition and allotment efforts by
Karnataka Industrial Areas Development Board (KIADB) to promote IT developments. Further, single window
clearance system adopted by Karnataka Udyog Mitra (KUM) supported the KIADBs initiative. Prior to
commencement of Bagmane World Technology Center & Ferns Icon in 2008, developmental activity was
largely concentrated between Marthahalli Sarjapur stretch primarily due to favourable zoning regulations
and availability of large land parcels. Currently, the Marthahalli Sarjapur and Hebbal KR Puram stretches
account respectively for 57% & 36% of the total Grade A office space operational along the ORR. In future,
KR Puram - Marthahalli stretch is likely to witness almost 17% of the total IT space being developed in this
micro market.
ORR predominantly has large multi-tenanted IT parks with almost 95% of the total Grade A office space
being occupied by IT and ITeS companies and the proportionate share between IT and ITeS segments is 57%
and 42% respectively. As on date ORR has over 18 million sqft of operational IT space and approximately
another 3.3 million sqft under construction. The planned supply along this micro-market is estimated to be
28 million sqft. ORR constitutes for 75% of the Special Economic Zone developmental activity in the city and
this trend is expected to continue as this micro market has over 300 acres of land available for development
under SEZ category.
Current levels of vacancy of Grade A office space along ORR is just over 1 million sqft and likely to drop in H2
2010. Even during the global meltdown phase (Q4 2008 2009) average rentals for Grade A office space in
ORR relatively witnessed a lesser drop compared to other peripheral markets Whitefield and Electronics
City signifying the balance between supply and demand levels.
While ORR continues to remain an attractive IT growth corridor rental levels in short term are expected to
rise owing to very low existing vacancy levels and limited projects under construction. However in medium
to long term the prices will stabilize owing to planned supply.

Page | 3

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Emergence of ORR as a growth corridor for IT

developments
Transformation of Bangalore from a Garden City to Silicon Valley of India started in 1980s. Since the
beginning, IT hubs were predominantly concentrated in southern and eastern regions of the city namely
Secondary Business Districts (SBDs) of Airport Road, Bannerghatta Road, Koramangala & Indiranagar and
Government promoted Peripheral Business Districts (PBDs) of EPIP, Whitefield & Electronics City, Hosur
Road. This resulted in emergence of areas around SBD - Koramanagala / Indiranagar / BTM Layout / Sarjapur
Road in southern and eastern pockets of Bangalore as preferred residential locations by IT population.
Figure 1: Bangalore-Early IT Hubs
NH 4

Hebbal
Yeshwantpur

To BIA

NH 7
NH 4

ITPL

KR Puram
Magadi
Road

Whitefield
CV Raman Nagar

CBD

Indiranagar

Marathahalli

Old Airport Road

Old Airport

Koramangla

Silk Board Jn.

Sarjapur Road

Kengeri
SH 17

BTM Layout
NH 209

Bannerghatta
ORR (Hebbal to Silk Board Junction)
Major State and National Highways

Residential Locations preferred by IT

working population
Key IT Hubs in 2000

NH 7

Electronics
City

ORRs IT growth corridor story commenced in early 2000s with land acquisition and allotment efforts by
Karnataka Industrial Areas Development Board (KIADB) to promote IT developments. To facilitate prompt
developments, KIADB acquired large land parcels along ORR and ensured conversion of the same for
industrial hi-tech use. Further, single window clearance system adopted by Karnataka Udyog Mitra (KUM)
supported KIADBs initiative. With the completion of Outer Ring Road (ORR) in 2002, a new growth corridor
opened up for IT development in Bangalore.
The announcement of Special Economic Zone (SEZ) policy in 2005, led to the export oriented IT/ITeS sector
to focus their growth in upcoming SEZ parks due to expiry of the incentive structure under the Software
Technology Parks of India (STPI) scheme. Readily available large land parcels along ORR and Government
initiative of the revised Bangalore Master Plan 2007-15 provided impetus to IT development through
favorable zoning regulations.
With the commencement of Bangalore International Airport (BIA) in 2008 in Devanahalli, the ORR stretch:
Hebbal to Silk Board Jn. gained importance as it serves as the main artery between BIAL and major IT hubs
of Bangalore i.e. Whitefield & Electronics City.

Page | 4

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series
The figure below summarizes the key events (policy level, IT infrastructure development promoted by
Government and completion of BIA) which promoted ORR to become a IT growth corridor of Bangalore
Figure 2: ORR-Emergence as IT Growth Corridor

Policy Level
Initiatives

Key
Connectivity
Intiatives

IT Developments along ORR

Formation of
Electronics City

1978

1990
1991

IT
Infrastructure

Formulation of
STPI Scheme

Formation of EPIP
Zone in Whitefield

1994

Commencement of
construction works
for ORR

1995

1996

WIPRO

1999

Intel Technologies

2005

Manyata Embassy Business Park

RMZ Ecospace
RMZ Ecozen
Salarpuria Supreme

2006

Prestige Tech Park

Salarpuria Hallmark

Annoucement
of SEZ Act

2007

Salarpuria Softzone
Vrindavan Tech Village
Cessna Business Park

Release of
Bangalore
Master Plan

2008

Salarpuria Touchstone
Adarsh Tech Park (P-I)
Ferns Icon

2009

Global Technology Park

Pritech Tech Park
Bagmane World Technology Center

Commission of
ITPB
(JV between KIADB
& Ascendas)

1998
1999

Announcement
of BIA

2000
2002
Completion of ORR

2005

2007
2008

Commissioning
of BIA

2010

Announcement of SEZ Act in 2005, favorable zonal regulations triggered growth along ORR
Presence of IT working population dominant residential zones in eastern and southern regions of
Bangalore due to development of IT hubs- Electronics City and Whitefield supported the growth of
IT developments along ORR
Post commissioning of BIA in 2008, the ORR stretch- Hebbal to Silk
Board Junction has gained importance as it acts as the main connection
between BIA and major IT hubs

Page | 5

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Advantage ORR
The following characteristics of ORR stretch
between Hebbal and Silk Board Jn. makes it one of
the most attractive IT growth corridors of
Bangalore:

Availability of large land parcels

Designated as Mutation Corridor**

Zoning of land to Industrial Use (Hi-Tech)

thereby increasing the permissible FSI up
to 3.25

Proximity to established IT talent pool &

established residential hubs

Proximity to CBD (M.G. Road) compared

to other peripheral locations of Bangalore

Ongoing construction of hotels, malls,

large Grade A residential developments

Other initiatives by Government,

-

Entire ORR Stretch to be a signal

free road by end 2011, as
Bangalore Development Authority
is constructing 8 flyovers and 2
underpasses
at
various
intersections.

Widening of Old Madras Road,

Hennur Road & Banaswadi Road
under progress.

This ORR stretch of 31 kms exhibits different

characteristics and has varied potential and
activity for IT developments. Here, we have
categorized this stretch into 4 parts based on
intersection with highway/major road:
Stretch 1: Hebbal - KR Puram
Stretch 2: KR Puram Marathahalli
Stretch 3: Marathalli Sarjapur Road
Stretch 4: Sarjapur Road Silk Board Jn.

** Mutation Corridor: The subject stretch of ORR as been designated as Mutation Corridor under Revised Bangalore Master Plan,
2007. As per this provision, plots with frontage equal to or more than 12m are eligible for conversion of land-use to commercial
and the permissible FSI being in the range of 2.75 to 3.25 (depending on the plot size, frontage and abutting road width). In addition
to the frontage, the entry and exit to the plot should be provided along the mutation corridor.

Page | 6

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

The following table summarizes the potential of these stretches for IT developments:
Table 1: ORR-Potential for IT Developments

Stretch 1: Hebbal to KR Puram

Stretch 2: KR Puram to
Marathalli

Stretch 3: Marathalli to
Sarjapur

Stretch 4: Sarjapur to Silk

Board

CBD (km)

9.5

13.5

15

11

Bangalore International Airport

(BIA)

32

42

47

52

Limited

Available

Available

Limited

Attribute
Distance Chart

Land Availability
Availability of land for IT
development
Zoning and Reulatory Attributes

Main Land-use

Residential;
Industrial (Hi-Tech Zone)

Residential

Industrial (General); Industrial

(Hi-Tech Zone)

Sarjapur to Iblur: Iblur Army

Camp
Iblur to Sarjapur: Iblur Army
Camp
Sarjapur to Silk Board:
Residential

Permissible FSI

1.75 - 3.25 (Residential)

2.0 - 3.25 (Industrial - Hi Tech
Zone)

1.75 - 3.25 (Residential)

2.0 - 3.25 (Industrial - Hi Tech

Zone)

1.75 - 3.25 (Residential)

~25%

~40%

~25%

Resident IT Population within the catchment

Approximately % of total
Bangalore IT Population
residing within 30 mins travel
time from ORR stretch

~15%

Business and Social infrastructure

Koramangala, BTM Layout,
Dollar's Colony, RT Nagar,
Kasturi Nagar, Banaswadi, KR Koramangala, HSR Layout, BTM
HSR Layout, Madiwala,
Frazer Town, Banaswadi, Kasturi Puram, Mahadevpura, Yemalur,
Layout, Madiwala Bellandur,
Bellandur, Jaya Nagar,
Major residential areas (within
Nagar, Mahadevpura, Kalyan
CV Raman Nagar, Indiranagar, Marathalli, Yemalur, Brookefield,
Banashankri, Bannerghatta
30 mins)
Nagar, Nagwara, Hebbal, HBR
Marathalli, AECS Layout,
Sarjapur Road, Haralur Road,
Road, Sarjapur Road, Haralur
Existing/ Growing/ Upcoming
Layout, Hennur Road,
Bellandur, Karthik Nagar,
Devarabeesanahlli,
Road, Devarabeesanahalli,
Thannisandra Road, Bellary
Doddenakkundi, Whitefiled
Kadubeesanahalli, Hosa Road,
Kadubeesanahalli, Hosa Road,
Road, Whitefield Road
Road, Varthur Road
Varthur Road, Hosur Road
Hosur Road
Existing Hotels

Royal Suites (Serviced

Apartments)

Hotel Seven (4 Star) and Lotus

Park (Business Hotel)

Ivy (Business Hotel)

Orange Hotel (Business Hotel)

None

Marriott

Upcoming Hotels (Till 2012)

Hotel Westin (246 rooms)

None

Novotel IBIS (559 rooms)

Park Plaza (237 rooms)
Palm Retreat (200 rooms)
Shangri-La (450 rooms)
Salarpuria (250 rooms)

Upcoming Retail Malls

None

Soul Space Arena

Soul Space Spirit

None

Overall Potential for IT

development

Moderate

Moderate

High

Low

Page | 7

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series
Figure 3: ORR-IT Growth Corridor
N

To BIA

Bellary Road
Nagwara
Hotel Westin

Hebbal
BEL

Hennur

Sanjay Nagar
Hebbal

HBR Layout

Hormavu
To Hosakote

RT Nagar

Banaswadi

Ramamurthy Nagar
OMBR Layout

Kasturi Nagar

Frazer Town
KR Puram

To Whitef ield

HP

Mahadevpura

CV Raman Nagar

DRDO

Kaggadaspura

CBD

Kartik Nagar

Soul Space
Arena

BEML

AECS Layout

Indiranagar
NAL
ISRO
HAL

Marathahalli

BEML Layout
To Whitef ield

Yemalur

Marathahalli

Old Airport
Park Plaza

NAL
Novotel IBIS

6
7

Legend
STPI Parks

Koramangala
Marriott

BTM Layout

Silk Board Jn.

Bellandur
SEZ Parks

Soul Space
Spirit

11

Existing Malls / Hyper-markets

16
15
Shangri-La
12 13 INTEL
Upcoming
Malls
14
10

SEZ / STPI ParksSarjapur

Legend
Sarjapur Road
Under-construction
STPI Parks
STPI
Parks
HSR Layout

Hosur Road
Legend

To Electronics City

Under-construction
SEZ Parks
SEZ
Parks

17
18

Salarpuria
Merill Lynch
8

Palm Retreat
Existing
Serviced
Apartments

Hotels/ Serviced Apartments

WIPRO
Upcoming
Hotels/
Serviced Apartments
Existing
Malls
/ Hyper-markets

Haralur Road
To Sarjapur
PSUs R & D
Organizations
Upcoming
Malls

STPI Parks

BTS /facilities
Existing
Malls
Hyper-markets
SEZ
STPI /Parks

Upcoming
Under-passes
Existing
Hotels/
Serviced Apartments

SEZ Parks

Residential
Locations
Upcoming
Malls
Under-construction
STPI Parks

Upcoming Hotels/
FlyoversServiced Apartments

Potential
Growth
Regions
Existing
Hotels/
Serviced
Apartments
Under-construction
SEZ
Parks

PSUs R & D Organizations

Under-construction
STPI Parks
STPI Parks

Upcoming
Hotels/
Apartments
BTS facilities
Existing
Malls / Serviced
Hyper-markets

Upcoming Under-passes

Under-construction
SEZ Parks
SEZ Parks

PSUs
R & D Organizations
Residential
Locations
Upcoming
Malls

Upcoming Flyovers

BTS
facilities
SEZ
/ STPI Parks

Upcoming
Under-passes
Potential
GrowthServiced
RegionsApartments
Existing
Hotels/

SEZ / STPI Parks

Legend

List of Existing, Upcoming and Proposed IT Park

Residential
Locations STPI Parks
Under-construction

Upcoming
Flyovers
Upcoming
Hotels/ Serviced Apartments

Potential
Growth
Regions
Under-construction
SEZ Parks
Manyata
Tech Park

PSUs R &Tech
D Organizations
Prestige
Park

Bagmance
World Technology
BTS facilities
Centre

RMZ Ecozen

Fortune City

Residential Locations
Potential Growth Regions

13

Global Technology Park

14

Pritech Park

Salarpuria Hallmark

15

Vrindavan Tech Village

Upcoming Under-passes
Upcoming Flyovers

Ferns Icon

10

Salarpuria Touchstone

16

Adarsh Tech Park

Salarpuria Supreme

11

Salarpuria Softzone

17

Cessna Business Park

Prestige Exora Business Park

12

RMZ Ecospace

18

Umiya Business Bay

Page | 8

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

IT developments along ORR

ORR stretch accounts almost 25% of the

Bangalores total IT space.
-

The Hebbal to K.R. Puram stretch is

dominated by office space supply
from Manyata Embassy Business
Park.
Gopalan Enterprises Fortune City
IT/ITeS SEZ and Bagmane World
Technology Centre - Phase II will be
key driver for office space supply
between
K.R.
Puram
to
Marathahalli
stretch.
Further,
availability of land for future
development assures more activity
in short to medium term along this
stretch.
IT
parks
located
between
Marathahalli - Sarjapur Road
account for more than 55% of the
total operational office space along
ORR. Large land parcels locked with
existing developments ascertain
trend to continue in future too.
Sarjapur - Silk Board Jn. stretch
witnessed no IT space activity
mainly on account of limited land
availability and existing zoning
regulations.

Currently, the Marthahalli Sarjapur Road

& Hebbal KR Puram stretches account for
57% & 36% of the total Grade A office space
operational along the ORR.

Table 2: ORR-Operational IT Parks

Category

Operational Area
as of H1 2010
(in million sqft)

STPI & SEZ

6.80

IBM, ANZ, Philips

Bagmane World
SEZ
Technology Centre

1.00

EMC2

Ferns Icon

0.38

Lenovo,
STMicroelectronics

Name of the Park

Hebbal to K.R. Puram
Manyata Embassy
Business Park

K.R. Puram to Marathahalli

STPI

Marathahalli to Sarjapur
RMZ Ecospace

STPI

2.00

Accenture, AOL,
Capgemini

Pritech Ecospace

SEZ

1.80

Quest, Firstsource,
Symphony Services

Vrindavan Tech
Village

SEZ

1.48

Cisco, OPI,
T-systems

Prestige Tech Park

STPI

1.00

Oracle, Nokia,
Yodlee

Salarpuria Softzone STPI

0.90

SAP, Genpact, Akamai

Technologies

Adarsh Tech Park

0.77

Honeywell, Subex,
KPIT Cummins

Salarpuria Hallmark STPI

0.42

Teleca, Quest, Nokia

Salarpuria
Touchstone

STPI

0.42

MTS, Mentor
Graphics, ARM

Global Technology
STPI
Park

0.27

LSI Logic

Salarpuria Supreme STPI

0.21

Blue Coat, Motorola,

Ocwen

RMZ Ecozen

0.11

Aricent

SEZ

STPI

Table 3: ORR-Upcoming IT Parks

Category

Expected
Completion Date

Area
(in million sqft)

Prestige Exora
Building 1

STPI

Q1 2011

0.67

Adarsh Tech Park

SEZ

Q4 2010

0.50

Umiya Business Bay

STPI

Q1 2011

0.45

Vrindavan Tech Village

Phase II (2A)

SEZ

Q4 2010

0.32

Name of the Park

In future, KR Puram - Marthahalli stretch is

likely to witness more IT space activity and
almost 17% of the total IT space along ORR
would be along this stretch.

Key Tenants

Page | 9

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Table 4: ORR-IT Space Distribution

Since 2004, over 18 million of office

space has been constructed on ORR. In
H1 2010, ORR witnessed absorption of
almost 1.5 million sqft and currently has a
vacancy rate of 5% for office space (1
million sqft). This is expected to further
drop in H2 2010 to as low as 3%.
Recent trend of IT companies moving to
SEZs may be due to revised Direct Tax
Code (DTC) published in Q2, 2010. As per
revised draft of DTC, units coming up in
SEZs after the implementation of the
Code from April 1, 2011, would not be
entitled for Tax holiday.
Lower vacancy rates and very little
construction activity (3.3 million sqft) has
made developers including Primal Projects
(Pritech Phase 2), Bagmane (World
Technology Center Phase 2), revisit the
construction plans and commence
construction of their respective projects in
H2 2010.

Untill 2007, developments on the ORR

were predominantly Software Technology
Parks such as RMZ Ecospace, Manyata
Embassy Business Park etc. Post 2008 the
development trend on this stretch has
been towards SEZ projects such as
Vrindavan Tech Village, Pritech Park,
Cessna Business Park, and Manyata
Embassy Business Park (SEZ).

Around 55% of the operational space falls

under SEZ category and accounts for more
than 75% of operational SEZ space in
Bangalore; considering 80% of the ORRs
future supply is in SEZ category the micro
market will continue to dominate in this
category of office space.

Stretch

Operational

U/C

Planned

Total

Hebbal - K.R.Puram

36%

11%

15%

23%

K.R.Puram - Marathahalli

7%

30%

22%

17%

Marathahalli - Sarjapur

57%

59%

63%

61%

Figure 4: ORR-Grade A Office Space Supply

Vestian
Estimate

30.0

sqft (in millions)

25.0

18.6
17.6

20.0
15.0
10.0

3.3
0.4

5.0

3.2

0.0

Operational

U/C
(2010 - 2012)
Supply Absorption

Planned
(2012 and beyond)

Figure 5: ORR-Supply & Absorption Trend

10%

8
7

8%

sqft (in millions)

6
5

6%
Vestian
Estimate

4%

3
2

2%

0%
2006

2007
Supply (STPI)

2008
Supply (SEZ)

27.8

2009
Absorption (STPI)

2010
Absorption (SEZ)

Vacancy in %

Page | 10

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Planned supply is largely concentrated in

the existing parks itself:
-

Under STPI category, existing

Global Technology Park and
Manyata Embassy Business Park
has land for future developments.
New entrants include Prestige
Exora Business Park and Umiya
Business Bay.
Under SEZ category, developers
of existing parks have more than
300 acres of land for future
development. Leading projects
include Pritech Park, Vrindavan
Tech Village, Adarsh Tech Park
and others.

Figure 6: Bangalore-Rental Value Trend

100

INR/sqft/month

80
60
40
20

0
2006

2007

CBD

2008

Suburban

2009
ORR

H1 2010
Peripheral

Table 5: ORR-Key Occupiers

Area Occupied
(in million sqft)

Occupier
IBM & IBM Daksh

> 1.0

During global meltdown phase, Q4 2008

2009, average rentals in ORR witnessed
drop of only 20% compared to 30 - 40%
drop in other PBDs of Bangalore. This
signifies the balance in demand and
supply of real estate space along ORR.

Cisco Systems
Honeywell
Philips

> 0.5

EMC

Nokia
Outsource Partner International

ORR predominantly houses multitenanted IT developments with an

exception of Intel Campus which is an
owned facility.

T-Systems
AOL
Accenture

> 0.2

Capgemini

Considered the hub of large IT

developments with 5 out of 20 existing IT
parks having more than one million sqft
operational spaces. This number is
expected to increase to 8 by 2012.

Nokia-Siemens
ANZ
LSI Logic

Table 6: ORR-Key Lease Transactions (H1 2010)

Building

Area
(in sqft)

Nokia Technologies

Vrindavan Tech Village

1,26,000

Brocade

Vrindavan Tech Village

90,000

Company

Akamai Technologies Salarpuria Softzone

70,000

Symphony Services

Pritech Park

60,000

Teleca

Salarpuria Hallmark

43,000

Cynivwea

RMZ Ecospace

42,000

Ocwen Financials

Salarpuria Supreme

28,000

Page | 11

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

IT/ITeS companies occupy more than 95% of the total operational space of which, 80% are MultiNational Companies (MNCs).

IT companies located in this micro market operate in software development, R&D and engineering
services space. ITeS companies provide knowledge and back-end services in IT & Telecom, BFSI, and
Retail and Healthcare verticals.

Figure 7: ORR-Occupier Profile

1%
57%

42%
IT

ITeS

Others

50%

50%

40%

40%

30%

30%

20%

20%

10%

10%
0%

0%
IT and Telecom

BFSI

Healthcare

Retail/
Manufacturing/
Media &
Entertainment

Others

Software
Product
Development

Engineering
and R&D

Support
Services and
Training

Page | 12

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

Future of ORR for IT developments

ORR is expected to continue to remain an attractive IT/ITeS growth corridor of Bangalore and improve
further with planned completion of numerous flyovers/ underpasses between Hebbal and Silk-Board Jn. by
end of 2011 and upcoming business & social infrastructure.
Rentals of office space are expected to rise to some extent in short term mainly due to low vacancy rates
and fewer under construction projects; however, only nominal rise in rentals is expected due to existing high
vacancy rates in PBDs such as Whitefield, Electronics City and others.
The current most active ORR stretch Sarjapur Road Marthahalli would be extended till KR Puram, as
Marthahalli KR Puram stretch is expected to witness high IT space activity in coming years.
While ORR over the years has emerged as the most preferred office space destination, this micro market
foresees a few challenges including:
-

Uncertainty on future of tax holiday for SEZ units post implementation of DTC in April 1,
2011 may have adverse effect on ORR, atleast in short term, as most of the office space
supply along ORR is scheduled under SEZ category.

Growth of ORR may slowdown due to the shift in focus towards Bangalore North for
upcoming developments.

Page | 13

Bangalore: Outer Ring Road

IT/ITeS Growth Corridor Series

ACRONYMS
ORR Outer Ring Road
Jn. Junction
MNCs Multinational Companies
IT Information Technology
ITeS Information Technology Enabled Services
CBD Central Business District
SBD Suburban Business District
PBD Peripheral Business District
ITPB International Tech Park, Bangalore
KIADB Karnataka Industrial Areas Development Board
JV Joint Venture
EPIP Export Promotion Industrial Park
SEZ Special Economic Zone
STPI Software Technology Parks of India
DTC Direct Tax Code
FSI Floor Space Index
PSU Public Sector Undertakings
BIA Bangalore International Airport
Q1 Quarter 1 (January March)
Q2 Quarter 2 (April June)
H1 First Half (January June)
BTS Built to Suit
BFSI Banking Financial Services and Insurance
R&D Research and Development

Page | 14