Bangalore has been the fastest growing city in India and its major growth driver – the real estate of the city has reached a much higher pace of development. The city is famous for its pleasant weather, a blend of cultures, prestigious educational institutions, great and wide range of cuisines, thriving IT sector and countless job opportunities.
Bangalore has been the fastest growing city in India and its major growth driver – the real estate of the city has reached a much higher pace of development. The city is famous for its pleasant weather, a blend of cultures, prestigious educational institutions, great and wide range of cuisines, thriving IT sector and countless job opportunities.
Apart from being a technology center, the city is also one of the prime residential destinations in India and is witnessing a tremendous surge in residential demand from the potential buyers. The surge is driven by multiple factors including availability of inexpensive residential properties, constantly improving physical infrastructure, excellent connectivity, and migration of workforce leading to massive housing needs. Furthermore, investments in the IT sector and projects by the top notched developers and foreign collaborators have raised the value of properties in the city. The steady growth in the real estate Bangalore has resulted in a complete transformation of both commercial and residential real estate properties, which in turn has added to the demand and has further led to inflation of property values.
As Bangalore houses a mix of IT, FMCG and financial companies, so developers are witnessing demand from people who belong to different walks of life and as a result developers are focusing on providing a wide range of affordable and premium options to the end users.
So, if someone is looking for a moderately priced residential space then consider the following residential localities of the city as they are well known to provide benefits of the aforementioned positive notions and a sound neighborhood.
Sarjapur Road
Located in the eastern quadrant of Bangalore, Sarjapur Road is a fast-growing satellite city. The locality is often considered as the IT hub of Bangalore housing some of the renowned IT giants. The locality mainly offers commercial spaces, malls and residential plots in various dimensions which are versed with modern facilities and best in class amenities. As per the data mentioned on 99acres.com, the residential market of the locality has witnessed a seven percent jump over the previous quarter; the current average capital prices here are around 4500 per sq ft.
Moreover with factors like seamless intercity connectivity and well-fabricated social infrastructure, Sarjapur Road’s residential market looks very promising for potential homebuyers.
Channasandra
Channasandra is another locality of Bangalore that has performed well during April-June 2016, registering a growth of around six percent in the property prices. Located in the eastern periphery of the city, the locality has witnessed the development of social-physical infrastructure. This progress in the locality has resulted in higher demand for both residential and commercial spaces. Moreover, the demand for the budget-friendly homes in the area is rising due to its direct connectivity to neighboring IT centers, making it a convenient location for the professionals looking for budget-friendly homes. With an average rate of 3700 per sq ft, Channasandra makes for a good investment option.
BTM Layout
Located in proximity to prominent locations such as Koramangala, Bannerghatta Road, and HSR Layout, BTM Layout is one of the well-developed residential localities of Bangalore. Tucked away in the eastern zone of the city, BTM Layout enjoys connectivity to the prime areas of the city including Babnnerghata Main Road, Outer Ring Road, Tavarekere Mian Road, Madivala Road, and Hosur Road. Factors like sound infrastructure, proximity to under construction metro station, and improved socio-economic conditions have gained the attention of end users, who are attracted to make this locale as their permanent address. The capital values have risen by five percent pushing the average residential rates to 5,950 per sq ft.
Babusapalya
Touted as the affordable investment option of East Bangalore, Babusapalya is a home for homebuyers looking for reasonably priced residential options. Apart from the affordability, other factors like enhanced and accessible connectivity via metro and well-developed social and physical infrastructure has escalated the sales of residences of the locality. The capital values in this area have appreciated by almost 50 percent in the last six years, having gone up from 1785 per sq ft in 2010 to Rs. 3,925 per sq ft in 2016.
Gunjur
Situated in East Bangalore, the locality has witnessed higher residential demand from the middle-class families. Just like aforementioned locales, Gunjur also houses hospitals, corporates, shopping malls, branded eateries, market areas and big retail chains. However, the factors that have proved to be the biggest boon for the locality are improved inter-state connectivity, proximity to Whitefield, ITPL, and other IT hubs, infrastructure development including Bangalore-Chennai Expressway and proposed peripheral ring road, and availability of newer apartments.
All in all, the city has a lot to offer in terms of affordable residential complexes. However, buyers should be cognizant in their search and do sufficient research before selecting a destination and project as per their needs and desires.