Prospects of Homes and Apartments near Attibele

5 years ago

Prospects of Homes and Apartments near Attibele

Attibele has grown to become one of the most sought after localities of Bangalore with the demand from the residents, home seekers, and real estate investors growing day by day. As the area has ample land supply and with its proximity to Electronic City the demand of the aspiring population is also catered to.

Growth of Bangalore cannot be overruled by any means and along with it the peripheral growth of the city. This is ushering in new areas to be explored and new opportunities to be exploited in real estate. The demand-supply disequilibrium of sought after properties at desired locations also created a renewed search for new pastures of land and in this quest, the focus is on newer pockets of the city.

Few areas in this list include Abbigere in the North, Jigani in the South East, Seegehalli in the East and Attibele in the South. Among all these, Attibele remains foremost among the highly prospective areas not only in South Bangalore alone but probably in the whole of Bangalore. The reasons for it are many for which it not only emerged as an area preferred by the residents but it is equally replete with infrastructural institutions and facilities and commercial centres. A closer look at the Attibele’s real estate situation would render a better understanding of the growth and the prospects of the place.

Real Estate and Homes in Attibele

The observers and the analysts say that the area has a moderate demand for properties and especially resale properties and is preferred by the first-time homeowners on a larger scale. The apartments which are of 2 and 3-BHK with the size ranging from 800 sq. ft. to 1000 sq. ft. and from 1000 to 1200 sq. ft. respectively priced within Rs. 20 lakhs to Rs. 60 lakhs remain the sought after choices of customers seeking homes at Attibele. The analysts also state that the price escalation of the area is almost second to none and in the last five years the escalation was in the range of 70%. The per square feet price went up from Rs. 1,500 per square feet to Rs. 2, 800 per square feet. In order to keep pace with the price change and to keep the demand of the buyers intact, the developers truncated the sizes of the apartments by at least 20%, with of course a few exceptions.

Attibele is also an area that has high rental demands too from the population engaged in Electronic City and in the neighbouring areas and even Hosur IT Park too. Apart from Electronic City, the area has a large demand for 2 and 3-BHK apartments owing to many neighbouring IT Parks like JP IT Park, Hosur IT Park, Harita IT Park, and Azim Premji University is also just about 17 kilometers away. There is enough demand from the students as well from the university who likes to stay in the area.

The newcomers to the city prefer the region because of its comparatively lower rental prices, availability, high social infrastructure, and easy connectivity to the other parts of the city. The observers also note that the rental prices may be a bit lower than the average rents of the places of proper Bangalore but the tenants are asked for more security deposits and rental advances.

Superb Connectivity & Good Social Infrastructure

In Bangalore, the speed of the growth of social infrastructure is something notable. New areas get developed and within a very short span of time, the demand and prospects of the upcoming areas is sensed by the industry and the infrastructure grows in leaps and bounds. A hamlet a few years ago has changed into a tinsel town with malls, supermarkets and all other utility centres concentrated in the right proportion in all areas of the place.

The connectivity is in no way unsatisfactory with a direct connection to Hosur road, Chandapura, Sarjapur road, NICE road, and Electronic City. The nearest railway station is the Heelalige railway station which is just about 8 kilometers away with easy connectivity to Kempegowda International Airport which is about 45 kilometers.

Future Prospects

Attibele got all the attention after the development of Electronic City as the need for more housing became poignant. Large tracts of land were also available at Attibele which made it the resident and the investors’ choice. Along with single houses, there were villas and gated enclaves seen in the area with a rapid increase in the social infrastructure which again escalated the prices of the area. The demand for land in the area has been so much that the price escalation in the area has been phenomenal in the last five years. The prices have increased from Rs. 2000 per square feet in 2013 to Rs.3500 in 2019. Along with the residents, the investors also got more interested in the area and the analysts believe that if this trend continues then the area would witness a price escalation of 20 to 30 percent in the recent future.