Bangalore has always been to young Indian professionals what light is to a moth – an irresistible attraction. Multiple factors culminate to make this happen.
Clement weather, large number of IT/ITES job opportunities, and the startup boom are some of them. In fact, a recent report Savills Tech Cities identified Bangalore as the most affordable tech city in India and 20th overall in the world.
What sweetens the deal for most young professionals is that real estate in Bangalore is comparatively more affordable. The realty market has also been known to hold steady in times of uncertainty and major changes.
If you’re in the process of putting down roots in Bangalore, here are some affordable location options for you.
Horamavu
For home seekers in North-East Bengaluru, Horamavu is increasingly becoming a popular option.
It enjoys proximity to developed areas such as KR Puram, Banaswadi, Whitefield, and Outer Ring Road. Those who wish to set up homes in these areas due to proximity to work places can also consider Horamavu to settle down.
Infrastructural development is expected to improve and that will boost residential projects further.
Average price per sq.ft: Rs 4,409
Budigere
Budigere is an upcoming residential area on Old Madras Road. Demand for homes in this locality is driven by the manufacturing industries as well as IT industries in neighbouring areas.
Infrastructure is good and continues to improve rapidly. Those who can’t afford homes in Whitefield and Brookefield find this a feasible option that is reasonably close.
Average price per sq.ft: Rs 4,783
Mysore Road
The development of the IT SEZ Global Tech Village has led to the launch of many residential projects in Mysore Road.
The connectivity to Mysore Road is promising because of the Outer Ring Road and NICE Road.
The proximity to educational institutions and industries improve chances of the area blossoming into a well-populated residential location.
Average price per sq.ft: Rs 4,922
Kanakapura Road
Kanakapura Road is a rapidly upcoming, affordable location in South Bengaluru.
It enjoys good connectivity to other important locations in the city. Kanakapura Road is connected to Mysore Road and Bannerghatta Road via the NICE road and to Tumkur Road, Old Madras Road and Hosur Road through the upcoming Peripheral Ring Road.
Additionally, the extension of the Metro will enhance connectivity.
Social infrastructure in the locality is on the upswing. There are ample educational institutions, medical facilities, and entertainment avenues.
Average price per sq.ft: Rs 5,131
Sarjapur Road
Sarjapur Road houses projects catering to all types of budgets. Residents here primarily include employees from IT organizations on Outer Ring Road, Electronic City, and Whitefield.
Social infrastructure in the area is strong with many educational institutions, entertainment and recreational options, medical facilities and more.
Average price per sq.ft: Rs 5,712
Magadi Road
If you’re seeking homes in the Western part of Bengaluru, Magadi Road is a promising locality.
Accessibility to this area is enhanced because of the NICE Road and Outer Ring Road. Namma Metro’s Purple Line improves the connectivity further. Although it currently caters to a wide range of budgets, affordable housing units are increasing in numbers due to the burgeoning demand.
The stable real estate market in Bengaluru is a great reason to invest in property. Developers have their finger on the pulse on the customer needs and are choosing to launch more affordable homes in emerging localities. Take the plunge and find yourself a home.
Average price per sq.ft: Rs 6,582
