The Silicon Valley of India has evolved as one of the best places to buy property in India. Incredible weather, developing infrastructure, and a population that embodies the word ‘multicultural,’ the city has seen its property market literally explode over the last few months.
The demand for housing in Bangalore has traditionally been driven by IT/ITeS companies. And considering the traffic situation in the city, staying closer to the workplace is one of the best practices to follow.
To make your home buying journey simpler, we have identified the top three localities around three major IT Parks.
This list has been created based on five parameters:
- Property values
- Connectivity
- Lifestyle quotient
- Overall social and physical infrastructure
- Investment potential
Manyata Tech Park
Nagawara
Property values: Rs 4,800-6,950 per sq. ft.
Situated in North Bangalore, Nagawara is strategically located between HBR Layout and Thanisandra. Proximity to Manyata Tech Park, which houses several IT/ITeS giants, is one of the most significant growth factors for the area.
Being close to the Outer Ring Road (ORR) and Bellary Road, the area also enjoys seamless connectivity to important areas in the city. Local BMTC buses regularly ply via Nagawara Junction Bus Stop.
The Kempegowda International Airport is situated about 30km away and is accessible via NH-7. Moreover, with the proposed airport Metro line, this 30km distance is expected to be covered in just 30 minutes.
Nagawara’s strategic location and the maze of flyovers have also been instrumental in attracting leading developers such as Sobha, Mantri Developers, Prestige Group, and Bhartiya City Developers.
Liveability: Fairly developed social and physical infrastructure.
Problems: Despite successive developments, Nagawara is struggling with traffic congestion. However, the completion of the ongoing Namma Metro Phase-2, which will incorporate the Gottigere-Nagavara Line, is expected to address some traffic issues.
Properties in Nagawara
There are over 300 properties for sale in Nagawara with a good mix of apartments, villas, and plots.
Out of the total properties available for sale, nearly 70% is ready-to-occupy and remaining are under-construction that are slated for possession over the next two years.
Investment potential
Being relatively affordable, Nagawara has the potential to grow in the times to come. And the recent announcement of the Airport Express Metro that would connect Nagawara to the international airport will just add another feature to its cap.
Ecospace
Sarjapur Road
Property values: Rs 4,500-6,800 per sq. ft.
Sarjapur Road has emerged as one of the most promising residential hotspots in recent times. The capital values of residential properties here have registered a consistent growth while the investment has been worthwhile for many. Additionally, with more infrastructural work in the pipeline, people can expect another round of construction boom which, in turn, would see a further appreciation of investments.
Strategically located between Whitefield and Electronic City, Sarjapur Road is one of the key centres of IT/ITeS in the city. It also enjoys proximity to another IT hub – Marathalli-Outer Ring Road (ORR), which has further boosted the growth prospects of the region. In terms of infrastructure, the locality is well-supported by good schools, hospitals, restaurants, and centres for recreation.
Sarjapur Road properties
All types of residential properties, including apartments, villas, and row houses have mushroomed in and around Sarjapur Road. At present, there are over 700 properties for sale in the locality. While the majority of the units are in the affordable and mid-segment range, about 35% are priced over Rs 1 Crore.
Investment potential
Sarjapur Road is witnessing fast-paced development. With several companies leasing space in the IT parks in and around the region, the area is slated for further development in the future. And with the upcoming Metro Rail, investments here is surely expected to fetch strong returns.
Bellandur
Property values: Rs 4,500-7,200 per sq. ft.
Bellandur has gained significant popularity owing to its proximity to the business districts, both on the eastern and southern side of the city. Moreover, IT Parks such as EcoSpace and Ecoworld are in the vicinity.
Ecospace is home to companies like Accenture, Bosch, Harman, Cadence, Shell, etc. while Ecoworld houses Aura, Capgemini, Honeywell, KPMG, Sony, Infosys, etc. The Intel and Wipro offices are also easily accessible. And by virtue of these factors, social infrastructure has developed over the last couple of years.
Another reason for Bellandur’s growth is the availability of properties in every budget range. While mid-segment dominates the property spectrum here, one can also find a number of affordable and premium properties.
Properties in Bellandur
One can also find several villa units in the area in the price range of Rs 4,400-8,900 per sq. ft.
Investment potential
Bellandur, recently, has been in the news for all the wrong reasons. This has resulted in a slight drop in the capital values of projects that are facing the toxic Bellandur Lake.
But now with government bodies and private developers trying their best to revive Bellandur Lake, property prices have already started to show signs of revival.
Haralur Road
Property Prices: Rs 5,000-6,800 per sq. ft.
For those eyeing luxury projects in and around Eco Space, Haralur Road should be on the house-hunting list. Over the last few years, several premium projects have mushroomed in the region that is truly changing the skyline of Haralur Road.
Haralur Road has also attracted investors as the entry point is quite low for premium properties. Further, the second phase of the Metro Rail would be an added advantage to the residents here.
Properties in Haralur
As per RoofandFloor, there are over 300 properties for sale in Haralur Road. While apartments dominate the property spectrum, there are a good number of villa and plots as well.
Investment potential
Haralur Road connects Sarjapura Road and Electronic City via Kodlu Main Road. In order to ease the traffic flow, the BBMP has proposed to construct a 4-lane underpass at Sarjapur Road-Haralur Junction.
International Tech Park (ITPL)
Whitefield
Property values: Rs 3,200-6,000 per sq. ft.
A self-sustaining suburb, Whitefield has growth by leaps and bounds over the last decade. Seamless connectivity via the Outer Ring Road (ORR), coupled with the adequate growth of social and physical infrastructure, has upped the ante in this area.
Additionally, this vibrant micro-market has adequate land for further development. Enhanced connectivity clubbed with infrastructural benefits will keep the demand at a steady pace for both residential and office space in the times to come.
Properties in Whitefield
At present, there are over 600 properties for sale in Whitefield by leading developers like Brigade Group, Radiant Group, Assetz Property Group, DNA, and Infrastructure. Several projects are scheduled to be completed in 2018. Hence, there will be a lot of ready-to-occupy inventory in the market next year.
Investment potential
These developments will surely have a positive impact on the housing market of the area.
Check our ultimate guide to Whitefield for more about investing in this hot real estate location.
Nallurhalli
Property values: Rs 4,000-4,700 per sq. ft.
An upcoming location in Whitefield, Nallurhalli benefits from generous green cover. Its proximity to tech parks like ITPL and Sigma Tech Park has significantly helped it in carving a niche for itself on Bangalore’s reality map.
Nallurhalli also enjoys good accessibility to Old Airport Road and Old Madras Road. Due to ample availability of land, it is seeing a lot of villas and row house developments. It offers affordable housing options for buyers who prefer peaceful surroundings but also do not want to compromise on the connectivity to their workplace.
Properties in Nallurhalli
From apartments to plots to villas, there are an array of options to select from and that too at an affordable price bracket.
Investment potential
Being an emerging area, Nallurhalli has huge potential to grow in the times to come. However, for the social infrastructure to develop completely, it might take some time. Thus, it is best-suited for investors with a long-term horizon.
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