Bangalore is one of the Indian cities where the prospects of properties are fairly high as migrants from all parts of the subcontinent and even expatriates flock to the city every year. The city has been one of the most sought-after destinations even for the millennial’s as there is an IT revolution taking place and Bangalore is the IT capital of India. That being said, the property prices of Bangalore are going steadily high and places which were small hamlets a decade and a half ago have transformed into tinsel towns attracting residents and investors.
Investors and prospective homeowners are constantly in search of newer pastures which are affordable, rich in infrastructure and promise a good return on investment. The question that most of the property buyers have in mind is “where should I buy my property?” The answer to this question can be tricky when it comes to Bangalore as it is a city which is highly decentralized with a lot of new developments happening requiring immaculate speculation to invest. Here we have few options for you if you are an investor or intending to buy a property for residence.
Property in North Bangalore
The upcoming Aerotropolis around Bangalore International Airport is one of the prime reasons why the areas near it, along with places like Devenahalli, Hebbal, Yelahanka, and Thanisandra are gradually attracting dwellers and investors alike. The areas of North Bengaluru which are near to the Outer Ring Road, International Airport and the Central Business Districts of the city are the first choice for the investors and the real estate developers. Apart from that, the proposed Monorail and Devenahalli IT Park are the other attractions that would keep your property price ticking on the higher side year-on-year.
Property in South Bangalore
Sarjapur Road
Sarjapur road and Chandapura are the two most happening areas in the southern part of the city. Sarjapur road situated at the south-east part of the city has emerged to be one of the favorite hubs for real estate investment. Large residential areas have been developed owing to the presence of large IT companies and MNCs which has made the IT professionals seek for residential catchments in the area. The area is very rich in social infrastructure with a lot of Schools, colleges, shopping centers, malls and other facilities. With the proposed Peripheral Ring Road (PRR) connecting Hosur Road to Tumkur Road via Sarjapur road, the commutability is superb which is further wooing people to choose Sarjapur road as their residential address.
Chandapura
Chandapura also offers multiple residential options for the aspiring residents and home buyers as it is just 8 km away from Electronic City, the largest IT hub of Bangalore. The area also has a rich infrastructure with rapid developments happening at jet speed. The connectivity to the central business districts is also great with easy access to Hosur road. The area is fast getting populated with the rise of the prices of property with most of the residents being the industrial workers of Anekal, Jigani, Attibele, Bommasandra, and Hosur.
The surveys conducted reveal that the average price of property in the area ranges from Rs. 2600 to Rs. 3400 per square feet. This is quite an affordable range with many real estate developers flocking the area with numerous projects and the price range also indicates that there will be increasing demand by the middle class. Apart from the prevailing prices of property in the area, it is close to the National Highway 7 and surrounded by well-developed residential layouts. Being just a few kilometers away from metro station, bus stand, railway station, and the international airport, it definitely the resident’s paradise.
Property in East Bangalore
Whitefield is a well-known and much sought after area in East Bangalore but along with it Budigere and Varthur are few of the places that have gained importance recently both by the residents and investors. The area is dotted with IT and ITeS companies with a promise of high appreciation of properties. There is ample connectivity from Whitefield with South Western railways starting a train service from Whitefield to Majestic which would bring the central business districts of the city closer. The social infrastructure in the area is also quite good with malls, shopping centers, markets and educational institutions in the immediate vicinity.
Property in West Bangalore
At the West of Bangalore, areas like Tumkur road, Rajajinagar Industrial area, and Yeshwantpur are in high demand as they are inhabited by the industrial population and the places are rich in connectivity and infrastructure. The area offers attractive options for the first time homeowners, residents, and the investors as well. Apart from the good connectivity these areas already have they are also blessed with the construction of Peripheral Ring Road (PRR) which would improve the communication facilities of these places further once it’s operational.
Undoubtedly, Bangalore is a city to live and invest and the property prices of Bangalore can always be expected to rise higher. History says that there has been a steady rise in the property prices in the last ten years. Despite the measures like demonetization and enactment of RERA, the prices of properties in Bangalore have not witnessed unexpected fluctuations. The real estate market has again picked up with the demand being steady and experts suggest that about 40 to 50% of the properties would become ready to occupy in the next couple of years. With that being said the investors can look into the options in the above-mentioned areas for better alternatives and higher returns on investment. If you are looking to stay, these areas would give you a fair lifestyle with a regular increment of property prices as well.
Key Takeaways of where Should you Buy Apartments in Bangalore
An eco-friendly home may be what you always felt is the need of the hour and it’s certainly one as it is for the future generations that we have to protect our planet. This doesn’t necessarily mean you have to spend a fortune on buying a home in sustainable projects. Going green is a mindset and way of life that you can always adapt by making a little shift in your attitudes and habits.
The investments from the Non-Resident Indians (NRIs) have surged in the FY 2021 to $13.3 billion from the earlier estimate of $13.1 billion according to a report published by 360 Realtors. The same report states that the investment volume has climbed upwards by 6.4% compared to the previous financial year despite the pandemic and the buyers’ sentiments plummeting downwards.
Building and owning a home is certainly a dream come true, but the next important question that you need to answer is whether you have taken the measures to protect it. A home insurance protects you from all impending casualties and catastrophes, saving you not only money but giving you financial protection at times of need rendering you safe as well.
