Bangalore has come a long way from being just the Garden City of India. Today, Namma Bengaluru is one of the largest IT hubs in the world, second only to America’s Silicon Valley. With the boom in the IT industry came a steep increase in the city’s population. And with that, Bangalore became one of the hottest real estate hubs in the nation. If you are someone who is interested in the idea of buying property in Bangalore, you’ve come to the right place!
Why The Bangalore Real Estate Market Is Unshaken
Since the very early days of the IT boom’s onset, Bangalore has been popular for buying property. The city also attracts investments from big IT companies. Here’s why.
Stability & Investments:
With startups and big IT players investing here, it attracts ample white collar jobs. This results in multitudes of people migrating to this city year after year. And where there is boom in population, the real estate thrives too.
Climate & Geography:
Bangalore has always been known for its pleasant climate. The winters aren’t too cold and the summers not as harsh as it is up in the North. The weather is often ranging from warm to chilly, the range that is tolerated by most Indians. Then there’s also the fact that Bangalore is located in an area where calamities like earthquakes and cyclones are rare.
Multiple housing categories:
Be it ultra luxurious villas or super affordable studio units, Bangalore has it all. Bangalore is also a city where there is a good mix of both independent and established builders. Everyone will be able to find a home in their budget.
It is probably because of the above-mentioned reasons that the real estate space in Bangalore didn’t lose the momentum even during the demonetization fiasco.
Upcoming Real Estate Spots In Bangalore
Several factors decide the popularity of residential areas in Bangalore. While age-old parameters like connectivity to the other parts of the city, IT parks, school, hospitals etc still stand valid, a new parameter has made an entry. With Metro rail sprouting all over the city, spots rising in popularity are ones that are in close proximity to metro stations. This would not only provide connectivity but also help people in that locality beat the traffic foes that this city is famous for.
So without much ado, here are the upcoming real estate hubs in Bangalore.
Old Madras Road
Historically speaking, Old Madras Road was an industrial area, with the Tin factory and NGEF located right here. But with the decline of these industries, their respective buildings were demolished to make way for residential projects. This place had huge potential because of excellent connectivity to big IT companies in Electronic city, Whitefield, ORR and Hebbal.
Old Madras Road is located in East Bangalore and is part of NH which connects Mumbai and Chennai. Because of its proximity to central Bangalore, ample number of residential and commercial properties are coming up in this locality. This area also has excellent Metro connectivity.
A space once saturated with temples, Kadugodi has now become a thriving real estate hub for residential properties. With its close proximity to Whitefield and large land parcels coupled with excellent connectivity, it is no surprise that Kadugodi is fast growing into a popular spot for investments.
With strong presence of industrial and commercials structures around the KIADB complex, Kadugodi’s growth has been in leaps and bounds over the last few years. Thankfully, the prices are still at a reasonable level, making it an excellent choice for investments right now. Very soon, there is expected to be a steep rise in property prices in and around this region.
Electronic City, Phase II
E-City Phase II is steadily rising in popularity among both builders and investors at the moment. It is already well connected to major hubs in the city via roadways and the ongoing Metro construction, once completed will only add to the city’s value.
This part of the city is surrounded by popular spots like HSR, Mico Layout, Kammanahalli, Bilekahalli and the likes. Social infrastructure is already pretty well developed so it isn’t surprising that many prominent builders have picked this spot for their upcoming mid-income projects. Yet another perk of this area is that Ecity as a whole (all three phases included) are testing grounds for the Govt’s smart city project.
Located in North Bangalore, Hennur Road is a road that branches off to meet the ORR at around 6 kms away from the Benniganahalli Flyover. This road is also one that passes by many already established real estate hubs.
Since the inauguration of KIAL, Hennur became popular among residents who wanted to be close the airport as well as major hubs inside the city. While still relatively low at the moment, a steep rise is expected in property prices around this region in the coming year.
Hoskote is a space that has been in the Govt’s eye to be developed as yet another satellite town hoping to decongest a highly populated Bangalore. Of all the upcoming spots on this list, Hoskote has the lowest prices at the moment. So if low to mid-income housing is what’s on your mind, this would be a good spot to buy property in.
Located in East Bangalore, Hoskote lies at the intersection of NH 4 and NH 207. This area is in close proximity to Whitefield which houses a number IT biggies. This makes Hoskote the ideal spot to cater to the residential needs of the young IT folks working in Whitefield. Hoskote is also home to some large industrial units, with automotive biggies like VOLVO and Honda pitching tent here. This is a place that is expected to show steady rise in prices in the coming years.
Thanisandra is yet another upcoming spot in Northern Bangalore, which has recently been showing signs of speedy development thanks to the airport. With numerous ready to move in projects already set up, it would be fair to call Thanisandra a popular hub already. The current land prices here lie in the mid-range, making it reasonably affordable to all.
This is a place that is going to go from village to fully developed city in a short span. Manyata Tech Park is quite close to this area and several other IT companies have their eye on this spot as well. ORR is also fairly close to Thanisandra, making it well connected to other major parts of the city.
10 years back, Devanahalli was a quiet town in the outskirts of the then thriving central Bangalore. Today, it is no longer the far flung, tucked away town. Though located 34 kms away from Bangalore, the connectivity is above average and resourceful, that combined with minimal traffic around this region makes Devanahalli a very popular spot for mid-range homes.
Located bang next to the Bangalore-Hyderabad national highway and the airport being a convenient 5 kms away, infrastructure development around this area has been rapid. IT companies have already exploited the advantage this space has shown and have been blooming in Devanahalli. With many big schools and hospitals also coming up here, this is truly a very promising spot.
Other Popular Places
In addition to the places mentioned above there are some other spots which have been popular for sometime now but have shot up more in the recent past. This includes –
- BTM layout which is in close proximity to Koramangala, HSR and Bannerghatta Road
- West Bangalore covering Tumkur road, Yeshwantpur and Rajajinagar
2018 Is Expected To Be A Good Year For Real Estate
With the country having recovered pretty well from demonetization and its collateral effects, there sure is a wind of change in the air. While the 2018 budget may not have recognized real estate as an industry even now, real estate as such is expected to do well in the coming years.
Many schemes and plans have been designed by the Govt. to provide affordable housing options to the average Indian masses and the most popular one among them is the Prime Minister Awas Yojana. With the country as a whole expecting a lot of boom in real estate, Bangalore will be no less. Reach out to us if you’ve got some insights or if you’ve got any questions.
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