The top localities in highest demand in Bangalore Q1-2024 are here for you to read! The Bengaluru real estate is driven by mid-segment to high-end properties, which demonstrates that citizens need abundant spaces, evolving their lifestyle preferences. The city showed 46% of homebuyers in Bangalore preference towards 3 BHK Flats on the other side 45% of buyers chose 2 BHK Flats. The supply for 3 BHK Flats in Bangalore Stands at 43% and 2 BHK has been 38%.
Many of the top localities in highest demand in Bangalore, are seen in south Bangalore especially in the last two quarters, predominantly because of good connectivity to major IT and ITes offices and spruced-up social and commercial infrastructure.
In the past two years, the average property rates have surged from Rs. 7291 per sqft to Rs 9092 per sqft. This significant increase shows the stability of the real estate market in Bangalore.
Top Localities Most Preferred by Homebuyers in Q1 2024:
Between Jan and March(Q1-2024), the most sought-after localities for those buying homes were majorly centered around the southern part of Bangalore. The localities are Sarjapur Road, Whitefield, and Electronic City, the main cause for the surge was the upcoming IT parks and a world-class social and physical infrastructure.
Let us have a look into the localities which have an elevated demand by homebuyers.
Top Localities in Highest Demand in Bangalore:
Sarjapur Road: One of the prominent localities that has a good connection to neighboring prominent areas like Marathahalli, Whitefield & Electronic City. The locality also has many IT offices. The locality is connected to ORR, Hosur Road, and SH-35. The locality boasts of a great social life with many retail stores, prominent schools, hospitals, hotels, theatres, and banks. Columbia Asia Hospital, St. Peter’s School, Sarojamma Complex, and Market Square Mall are not far away.
The average price in Sarjapur Road in Q1-2024 is 8300 per sq. feet. Check out flats for sale in Sarjapur Road.
Whitefield: Whitefield is located in the eastern part of the city, where there are many IT offices. The locality boasts of excellent connectivity via Bus or Metro. Some of the famous spots here are Gopalan College of Engineering and Management, MV College of Engineering, Columbia Hospital, Tech Park, GR Tech Park, EPIP Zone, Sigma Tech Park, and some more. KR Puram is one of the prominent locality nearby.
The average price in Whitefield in Q1-2024 is Rs. 8000 per sq. feet. Check out flats for sale in Whitefield.
Electronic City: Electronic City is one of the prominent tech hubs in Bangalore situated in Konnapana Agrahara and Doddathogur Villages. The locality is divided into phases which are Phase I, Phase II, and Phase III. HSR Layout, Harlur, and Bommanahalli industrial area are not far away commuting through Hosur Road, Electronic City Flyover, Nice Ring Road, and Heelalige Railway Station. Some of the popular retail and social infrastructure include DPS Electronic City. Wipro Technology Campus, Infosys Campus, Salarpuria Infozone, Cyber ParkTech Mahindra Park, TCS Think Campus, and Sorsfort International School are here.
The average price in Electronic City in Q1-2024 was around Rs.5700 per sq. feet. Check out flats for sale in Electronic City.
Bannerghatta Road: This is another locality that has seen demand in the last few quarters. The locality is situated in the southern part of Bangalore. Some of the prominent surrounding localities are Anekal and Jigani. The commute is seamless with the Rashtriya Vidyalaya Road station in just 3 km distance. There are also a variety of eat-outs, supermarkets, shopping centers, business centers, pharmacies, and departmental stores which can be reached in ten minutes.
The average price in Bannerghatta Road Q1-2024 is Rs. 7200 per sq. feet. Check out flats for sale in Bannerghatta Road.
Thanisandra: Located in north Bangalore and close to Manyata Tech Park and the neighborhood comprising Hebbal, Nagawara, HBR Layout, and Jakkur. The locality has been popular in schools and hospitals. Some of the known names are Kensri School, Vidya Niketan School, Sindhi High School, Aster Clinic, Columbia Asia Hospital Hebbal, JMJ Hospital, and Christ Super Speciality Hospital.
The average price in Thanisanda Q1-2024 is Rs.8700 per sq. feet. Check out flats for sale in Thanisandra.
Kanakapura Road: The beginning of the quarter 2024 saw a hike in demand for properties in Kanakapura Road locality. The locality has seen remarkable growth in the past decade. Some of the localities that are easily accessible from Kanakapura Road are, Anjanapura, Banashankari, Talagattapura, JP Nagar, Kumaraswamy Layout, and Konankunte.
The average price in Kanakapura Road Q1 2024 is Rs. 8000 per. sq. feet. Check out flats for sale on Kanakapura Road.
Budigere Cross: Budigere Cross, in North Bangalore, is one of the areas that is developing quickly. Budigere Cross has grown to be a popular destination for house searchers since it provides a plethora of investment opportunities, including residential apartments, plots, and standalone bungalows. Budigere Cross is home to several well-known projects, including Aratt Cityscape, Prestige Tranquility, Definer Kingdom, and Brigade Buena Vista. Among the well-established residential areas surrounding Budigere Cross are Hoskote, Horamavu, Chikkagubbi, Anagalapura, Ramamurthy Nagar, and KR Puram. Many working professionals choose Budigere Cross as their destination because of its convenient access to job areas like Whitefield and Marathahalli.
The average price in Budigere Cross Q1 2024 is Rs. 8900 per. sq. feet. Check out flats for sale in Budigere Cross
Devanahalli: Devanahalli is a developing neighborhood in the northeastern section of the city that is roughly 15 km (or 20 minutes) from Kempegowda International Airport. Plots predominate here, followed by multi-story apartment and villa complexes. Because of the planned development of employment routes near the International Airport, the region is becoming known as a well-planned, open, and green residential destination with potential for long-term investment.
The average price in Devanahalli Q1 2024 is Rs. 7120 per. sq. feet. Check out flats for sale in Devanahalli
Conclusion on the Top Localities in High Demand BangaloreAs per prop index Q1-2024, more information technology parks have resulted in migrating working professionals across cities in India to Bangalore owing to its inclusive metropolitan nature, and adding to all this is the development in social and retail infrastructure, there has been a growing demand for residential real estate in Bangalore. When in Q4 2023 there was a decline of 13,6% in demand, the demand rose by 8.3% in the first quarter of 2024.