Realistic property values, ethical trade practices, coupled with robust activity from realty giants, played a significant role in thrusting Bangalore’s residential market forward during those times when the country’s economy struggled to stay afloat.
Being an end-user driven market, the city was minimally impacted by the demonetisation drive last year. With the realty sector inching towards greater transparency, buyer sentiment has once again started to pick up. Fence-sitters are resurging with greater confidence and are planning to take the plunge. So, where are people looking to buy a home in residential areas in Bangalore?
Clearly, the presence of prominent IT/ITeS companies has worked well for the eastern localities in the city. Not to mention, techies prominent in this area also prefer to stay close to their workplace.
Here’s a snapshot.
Whitefield: Invest today, earn tomorrow
Average Price: Rs 3,200-6,000 per sq. ft.
A self-sustaining suburb, Whitefield is one of the most preferred IT and residential catchments in the city.
Unsurpassed connectivity via the Outer Ring Road (ORR) and proportionate growth of social and physical infrastructure have changed the skyline of this area. Infra upgrades such as the Metro Phase II and proposed Peripheral Ring Road (PRR) are further expected to give the area’s connectivity a shot in the arm in the times to come.
Electronic City: A city within the city
Average Price: Rs 2,500-6,200 per sq.ft.
Developed way back in the 90s, Electronic City in South Bangalore is one of the most prominent IT hubs in the Silicon Valley.
Known for its walk-to- work culture, the area is increasingly becoming popular with families and single professionals. While mid-segment dominates the property spectrum here, the demand for luxury units has also seen an upward graph in the recent past. The under-construction Metro Phase II is further expected to reduce travel time for people commuting to Electronic City.
Devanahalli: Where distance is not a stumbling block
Average Price: Rs 3,400-5,100 per sq.ft.
The real estate growth story of Devanahalli is a classic example of how an airport can transform the locality’s fate.
Proximity to the international airport, coupled with the availability of land parcels at relatively affordable values, has made Devanahalli score the third slot on our list. The extension of the Metro project is expected to significantly ease the daily commute for its residents, which would further catalyse the residential demand in the area.
KR Puram: An area with old-world charm
Average Price: Rs 3,200-5,800 per sq.ft.
Securing the fourth position on our list is KR Puram that largely scores well owing to its strategic location and the presence of several eminent educational institutions.
The area also boasts of swift connectivity to Whitefield, Electronic City, and IT companies along the Old Madras Road and Outer Ring Road.
Sarjapur Road: Gateway to your dream home
Average Price: Rs 2,500-6,500 per sq.ft.
Sarjapur Road clocked the fifth spot on our list of five most searched localities. Seamless road connectivity to employment centres like Whitefield, Electronic City, and Marathahalli-Outer Ring Road has significantly helped the area climb the realty growth ladder. Moreover, availability of land parcels at relatively affordable rates has also worked well for this area. That’s not all! Sarjapur Road doesn’t disappoint on the liveability front as well.
(Note: The localities mentioned in this article are selected based on the last three months data)
