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Find Your Desired Property In Bangalore

Posted last December 15, 2016, 1:42 am in Real Estate report article

Popular as the Silicon Valley of India, Bangalore, the capital city of Karnataka, houses the largest number of IT companies, thus providing employment to thousands of software engineers and developers. With a population growth of 46.68% in the past decade because of the tremendous increase in migrants, the demand for property in Bangalore has seen a continuous rise. Bangalore has been successful in inhabiting this major population boom as well. The unsold inventory of Bangalore, estimated to be 2.2%, is very low when compared to other metro cities because of this very reason. This low rate of unsold inventory makes Bangalore a very stable real estate market as whatever is constructed attracts buyers within a short time.

If you are also planning to buy property in Bangalore, then read along to get detailed information about various locations and their prices to choose the best property.

Luxury Locations
Bangalore, booming with IT industries, is a sought-after location for many people from across the country. The varied real estate market of the city has an attractive property option for every individual. Bangalore is resplendent with posh locations to suit the needs of various property seekers. The 5 best locations to buy luxury residential property in Bangalore are listed below.

  • Whitefield - With around 800 new projects to be launched in this area, the price of property has already soared high. The average price in the posh Whitefield area is estimated to be around Rs.6,200 per sq. feet.
  • Indiranagar - A blend of residential as well as commercial area, Indiranager is a posh locality, which is at a distance of 5 km from all the commercial spaces like Airport Road, Koramangala and MG Road. The land price approximated to be around Rs.20,000 per sq. feet, a 3BHK villa in this location can cost approximately Rs.2-Rs.2.5 Crores.
  • Sadashivanagar - The price for a villa or individual house may cost around Rs.5-Rs.7 Crores here. One of the posh localities in Bangalore, the land price here is estimated to be around Rs.25,000 to Rs.30,000 per sq. feet.
  • Rajajinagar - Due to increasing commercial and residential development in this area, the price range has also increased here. The estimated property price in Rajajinagar is Rs.12,750 per sq. feet.
  • Malleshwaram - The property rate in Malleswaram, Bangalore averages out to be Rs.12,400 per sq. feet. It is located in the North West part of the city and is in close proximity to the Airport, Railway Station, commercial hubs and other important places.

Affordable Locations
Bangalore, being the IT hub witnesses a large number of inhabitants from many parts of the country. If you are also new to this city and seek an affordable yet decent house then check out the list given below.

  • Chandapura - Located in South Bangalore, around 8 km away from Electronic city, Chandapur has many pocket-friendly options for property buyers. The value of residential property in this area ranges between Rs.2,600 to Rs.3,400 per sq. feet according to the Bangalore Property Index.
  • Kengeri - Due to the industrial development along the Mysore Road, there has been an increase in the property demand in the Kengeri area of Bangalore. The average property price in this area is estimated to be around Rs.3,815 per sq. feet. With the construction work of proposed metro under effect, the appreciation rate of this area has increased to about 3.7%.
  • Kankapura Road - With seamless connectivity via the NICE road, the ongoing Peripheral Ring Road (PRR) and the under-construction metro project, Kankapura road is a preferred location for property buyers. Centered at the desired location, the price of property in this area is estimated to be around Rs.4,500 per sq. feet.
  • Sarjapur Road - Sarjapur road is an apt location for those looking for 1-BHK or 2-BHK flats. Due to its proximity to many large IT companies, builders have come up with a number of affordable housing projects in this area. The price of property here is approximated to be around Rs.3,100 to Rs.4,000 per sq. feet. Investment in this area will definitely yield high returns because of its appreciation rate marked at 4.7%.
  • Hosur Road - Property price in this locality has increased by about 5-10% in the last year. Still, the price range is affordably marked around Rs.4,000 per sq. feet. Areas covered under Hosur road are at a small distance from the Electronic City, which is the main IT hub here. It is profitable to invest here, as it will definitely yield high result.

Being the IT hub of the country, many software developers and programmers are making Bangalore their permanent home. With this detailed study about the various areas and their land price discussed above, we hope it would be easier to clear the confusion about buying the apt property.