Properties in Bangalore has one of the highest prospects and the analysts say that Bangalore real estate is only second to Mumbai in terms of absorption and supply. With that being told and the city being preferred because of its climate, infrastructure, job creation, human capital, education, and all other aspects, it’s one of the favourite destinations of the young generation. Even in the lull period, Bangalore real estate market was quite stable with the growth rate quite favourable.
Bangalore is one of the front-runners in the southern part of the country with the demand for housing more than Chennai and Hyderabad during the first quarter of 2018, according to the survey reports. The research reports convey that most of the demand for housing comes from the IT-ITeS sector and the start-ups. The sales of flats and homes in Bangalore were at 11, 500 units during the January-March 2018 in comparison to the figures of Hyderabad at 3,800 units and Chennai at 2, 300 units in the same period. In supply as well, Bangalore is at the top with 6,800 new launches of flats for sale as against 2, 600 units in Hyderabad and 2, 100 units in Chennai. Let’s look at the areas that are currently under rapid expansion and understand the Bangalore real estate market more closely.
The residential sector got a boost in the North of Bangalore with the demand for the high-end residential units as well as the affordable housing shooting high owing to few factors. They are the operation of the International Airport, construction, and operation of the Metro railways, Outer Ring Road and of course the presence of many IT and ITeS companies along with SEZ zones. At Devenahalli, one of the largest IT parks is proposed and that makes the area even more sought after. As the area is near the International Airport, the flats and apartments for sale in the adjoining areas are in the luxury segment as the demand of this area is anticipated to be mainly from the business class. The area has high promises of becoming one of the most popular and busy economic centers of Bangalore. Although the properties for sale in North Bangalore are of different and varied types, the affordable properties in Bangalore can also be found here. Areas like Hebbal, Abbigere, Jakkur, Jallahalli, Peenya and MS Palya are some of the areas with great promises, reaping high returns on investment.
Peenya is primarily an industrial area richly interspersed with manufacturing units, warehouses, godowns, and offices. This is inviting many of the professionals to opt for homes and flats in Peenya and the adjoining areas which is converting Peenya into a residential area too. With the introduction of the Green Line Namma Metro, the area is blessed with superb connectivity reducing the commute time of the employees. The area is also strategically located between Tumkur road and Bangalore-Neelamangala Expressway which links to the major parts of the city.
Jakkur lies in the corridor of high growth between Hebbal and the international airport. According to the reports, Jakkur has the most of the inventory of affordable homes and the area is well connected too. The place is well connected through railways, roadways, and apart from the airport road, it is connected with Bellary road which is connected to National Highway-7. Owing to its location and IT offices and parks nearby, many IT professionals are seen to have chosen the area for their residence and the place is of high demand too calling for considerable investment in real estate in the area.
Jalahalli offers you ample greenery due to the proximity of Jarkabandi state forest and is one among the rapidly growing areas of Bangalore with high investment in real estate. Owing to the demand of the area the state government has also marked it as “Special Investment Area”. Of late, Jallahalli has been the preferred destination of many developers and residents with numerous housing complexes being built. The area is also blessed with superb connectivity as it connects to the National Highway 4, Koramangala, Whitefield, and other parts of the city with easy transportation facility.
Abbigere is surrounded by areas like Malleshwaram, Gukula, Mathekiri, RMV Extension, and New BEL Road. Apart from the proximity to these well-known places and the Central Business Districts of the city, the area is near the business parks like Manyata Tech Park and other large organizations like Bharat Electronics Limited (BEL), HMT, CMTI, among others. This makes it a highly sought after location for the IT and ITeS professionals as the area is well connected too with Hassaraghatta railway station nearby. This is an area in North Bangalore where lots of real estate activity is happening with a considerable number of flats for sale in Abbigere being sold in no time encouraging developers to build larger projects.
MS Palya is an area in North Bangalore well interspersed with small-scale industries but has a notable presence of many schools, colleges, hospitals, malls and has an adequate water supply with promises of a great lifestyle too. The area is witnessing a good amount of investment in real estate both in the affordable as well as the luxury segment homes. That is the reason the area is attracting a lot of residents and developers and the demand for housing in the area has multiplied during recent times.
There are a lot of newly constructed properties in Bangalore in the eastern part of the city with supply meeting the demand. As the properties in Bangalore for sale here are of varying types like villa, row houses, apartments, layouts and are of other forms, there are options for all segments of buyers with varying price ranges too. The areas with high demand for housing include K R Puram, Sarjapur Road, Hoodi, and Whitefield among others. These areas are well interspersed with IT Parks and are blessed with great connectivity too with proximity to the Outer Ring Road. The social infrastructure in these places is also well developed with best of educational institutions, malls, markets, and other entertainment hubs. That makes East Bangalore a preferred destination for many and as there are IT Parks and areas like Whitefield in the East of Bangalore with an increasing number of offices, the demand and return on investment of properties in East Bangalore is bound to rise in the near future.
K R Puram has superb connectivity with railway stations and roadways and it is well connected with the central business districts of the city. The area is well knit with educational institutions, malls, supermarkets, offices and IT hubs in the vicinity. Whitefield is also near the area making it a choice for many working at Whitefield. This is precisely the reason why the area is being increasingly preferred by the middle class for residence with many developers offering diverse options and flats for sale in K R Puram. Well laid layouts, residential complexes, and areas have sprung up in the area shooting the demand for housing in the area. The area has more than 200 ready-to-occupy projects built by different category of developers and builders comprising of world-class amenities and offered at affordable prices too.
Dotted with numerous IT Parks, offices, and large multinationals the area is well sought after by residents and developers. Several housing projects have come up in the area and many are under construction too and the area offers quite attractive prices with housing complexes with world-class amenities and luxuries too.
Properties in Hoodi
Hoodi is one of the sought after areas by those desirous of building a home in Bangalore which is interspersed by several large multinational companies, corporate houses, and business parks. The place is well connected to Marathahalli, another sought after area and the central business districts of the city. Another advantage of the location is the recently built railway station at Hoodi which is facilitating thousands of commuters to go for work also. The area being near Whitefield also attracts the working population of Whitefield to the area. Thus people looking for flats for sale in Whitefield are increasingly choosing Hoodi as it is near the central business districts of the city. A lot of famous and midsized developers have their projects in the area with several residential catchments springing up in the region.
Whitefield needs no introduction for the people seeking for properties in Bangalore as it is one of the most sought-after locations. The primary reason is the presence of the large IT Parks and major IT multinationals in the area. The place has superb connectivity with a grand infrastructure too. The area is also blessed with all kinds and types of housing belonging to different economic classes. Almost all the major developers and builders have their projects here. The demand for high-end as well as affordable properties in Whitefield is high. The simple reason is the area offers good employment opportunities which would keep the value of your property ticking. Not only the capital value of the property would rise owing to the high demand of housing in the area but the rental yield of the properties in Whitefield can also be expected to rise at higher rates.
South Bangalore also prospered in leaps and bounds too with few areas being the most sought after especially due to the presence of IT parks and multinationals. Electronic City being one of the oldest IT Parks of the city has attracted a considerable number of residents in the area. Apart from that, areas like Bannerghatta Road, Anjanapura, J P Nagar, and Kanakapura Road are few of the areas which have attracted the residents in the recent past. In few of the areas there was already rich infrastructure and in few, there is rapid development taking place. Let’s have a look at the specific places that are of investors’ interest and also evaluate if properties in South Bangalore.
Arekere in South Bangalore, situated off Bannerghatta road is well-connected to the central business districts of the city attracting several IT and ITeS workforce and other professionals working in numerous offices at Bannerghatta Road. Needless to say, as it is situated on the Bannerghatta Road, it is well interspersed with shopping malls, supermarkets, and educational institutions. The Metro railway being proposed and constructed on the Bannerghatta road, the demand of the area from people looking for homes and apartments in South Bangalore has multiplied.
This area has been constantly developing for quite some time with large offices, multinationals, BPOs, hospitals, and malls in the vicinity. The construction of Namma Metro in the area has surged the demand of the places near to Bannerghatta road. The area is quite close to places like Koramangala, Jayanagar and is quite near to the central business districts of the city too.
Electronic City is one of the oldest IT Parks of the city and it is the workplace of lakhs of IT and ITeS workers spread into three zones namely Phase I, II and III. Apart from that, Narayana Health City is very near it which adds an edge to the place. All these factors taken together, the place is perennially in demand. Needless to say, owing to the high purchasing power of the residents and workers of the area the place is well knitted with rich social infrastructure with wide roads facilitating commutation facilities. There are numerous residential catchments and housing complexes in the area that offers the home buyers all kinds of homes from affordable to a very luxurious segment. No doubt, a property in Electronic City would always reap high returns on investment and there are options for all kinds of properties in Electronic City.
Properties in Anjanapura
Anjanapura near J P Nagar is one of sought after areas for the home buyers looking for properties in Bangalore. The area is near Kanakapura road and Bannerghatta road which makes its connectivity more convenient. It is one of the fast developing areas in Bangalore both in terms of infrastructure and also an increase of population. That’s precisely the reason why the analysts say that the prices of properties in the area fluctuates a lot and if the investor wants to maximize the profit margin, he or she needs to act as per the change in the market trend.
The western part of Bangalore covers the areas like Yeswantpur, Tumkur Road, and the Rajajinagar industrial area. The area is dominated by warehouses, godowns, and industrial activity. Land values in these areas are relatively cheaper making it a preferred investment ground for long-term investors. These places are also rich in infrastructure and the construction of the Peripheral Ring Road would lead to improved connectivity and the prices can be expected to rise as the commute time from the airport to Tumkur road is also expected to come down drastically once PRR becomes operational.
The real estate market of Kengeri is one of the most prospering and atop all the properties for sale in Bangalore. The Satellite town of Kengeri is bounded by Nagarbhavi, Vijaynagar, and Rajarajeshwari Nagar and has two major bus depots with superb connectivity with easy access to ORR, Mysore road, NICE Road and few other arterial roadways. The satellite town was formed thirty years ago and now the area is well knitted with social infrastructures like educational institutions, markets, supermarkets, malls, healthcare facilities, and entertainment hubs. The demand for flats in Kengeri is high owing to the well-planned locality with employment opportunities and offices nearby. Along with these advantages, the area is near the Global Village Software Park for which the demand of housing and apartment in Kengeri got a fresh jolt facilitated by superb connectivity attributed by Namma Metro corridor along East-West of Bangalore.
Nagarbhavi is a neighbouring area of Kengeri and has all the advantages that the satellite town can be attributed with. It is one of the most happening places in Bangalore with the demand for flats in Nagarbhavi growing day by day. The real estate market of Nagarbhavi has skyrocketed due to the presence of IT Parks and offices nearby, superb connectivity, and high social infrastructure. Nagarbhavi is surrounded by areas like Magadi road and Mysore road where property rates are higher. The demand for property in Nagarbhavi can also be attributed to the presence of famous educational institutions along with Bangalore University. People looking for affordable properties in Nagarbhavi has multiple options as the region has a wide range of property types with varying price range too.
Properties in Rajrajeshwari Nagar
Lying near Banashankari, Nagarbhavi, and Kengeri, Rajrajeshwari Nagar is not only one of the most sought-after areas in the West of Bangalore but one of the fastest growing residential areas in the west too. The demand for flats and apartments in Rajrajeshwari Nagar got a jolt owing to the presence of IT giants and the Global Village Tech Park. The area is rich in social infrastructure and is quite near the central business districts of the city with superb connectivity too. There are options for all segments of the real estate sector with a large supply of affordable flats in the West of Bangalore.
For a more detailed analysis of the Bangalore real estate market and understanding where to invest, read the eBook “Real Estate Investment in Bangalore – A Comprehensive Guide.”