Bangalore has always been a real estate buyer’s paradise. This IT capital has always boasted a stable real-estate market – even demonetisation did not have a significant impact on this sector in Bangalore. In retrospect, 2018 was a year of consolidation in Bangalore and 2019 is expected to deliver on growth riding on positive market sentiment. In addition, in the recent years the influx of MNCs, emergence of new micro-markets, and infrastructure deployment such as Namma Metro, has created new real estate pockets. Let’s take a look at how the 4 regions have grown and where investing makes sense.
Bangalore North has really picked up pace as a preferred real estate hot spot in the recent times. Proximity to the airport and the Yeshwanthpur railway station, connectivity through the elevated expressway, metro construction, and being in the vicinity of major IT parks has made this a popular choice for homebuyers. This area also boasts of other vital infrastructure such as schools, colleges, hospitals, and entertainment options that are central to any good residential community. Many major developers have announced interesting projects in this area and there is plenty of choice for homebuyers to choose from affordable housing to luxury villa type accommodation. There is also a good rental income potential as people are flocking to live closer to their workplaces.
Some of the key localities in North Bangalore include Hebbal, Yelahanka, Doddabalapur Road, Hennur Road, HBR Layout, Banaswadi, and Yeshwanthpur. However, due to lower prices and still developing infrastructure Yelahanka, Hennur Road, and Abbigere would be most promising to deliver long-term returns.
Affordable property rates and availability of land parcels in Bangalore South is giving way to a development spurt. Areas such as Electronic City, Bannerghatta Road, Kanakpura Road, Attibele, and Jigani would be a great investment option this year. Connectivity via NICE road and the EC Flyover, well established infrastructure such as schools, colleges, hospitals, proximity to major highways such as Mysore Road, Tumkur Road, Hosur Road, and Old Madras Road are all factors in favour of this locality. The introduction of the metro line on Kanakpura road has increased the profile of this area and more development and price appreciation is expected along the metro corridor. Electronic city, Jigani, and Attibele have the added advantage of being close to IT and Biotech companies ensuring high occupancy of residential and commercial buildings with Attibele taking lead in low cost housing options. The state government’s plan to double the 48Km long railway line from Baiyappanahalli to Hosur is expected to bring added connectivity to Jigani. This would be a good time to pick up a property here and capitalize on returns later.
In East Bangalore, Varthur, Whitefield, and Sarjapur Road are promising locations and are showing price appreciation of 20-25% as compared to more established city centers. These areas are already established hubs where large corporates, IT parks, and builders have taken root and entertainment and socializing options abound. The preference for the working populace is to live closer to their offices in a bid to avoid dealing with traffic jams on a daily basis. These locations make an excellent choice for people working in companies present there. Traffic is also becoming less of a concern in Whitefield with the introduction of the purple line metro and a train service from Majestic to Whitefield.
The locality of note in West Bangalore is Kengeri – a satellite township around Mysore road. Noted for industrial development, Kengeri is now coming up as a real estate hub with good facilities and excellent connectivity to NICE road, ORR, and Mysore Road. The demand in the area will only go up as infrastructure develops.
Overall 2019 promises to be a landmark year in Bangalore’s real estate development. An already attractive market, Bangalore will witness a rise in demand from the sops announced in the Union Budget 2019. This, in addition to attractive offers by developers in upcoming localities, will definitely see Bangalore’s real estate market skyrocket. If you want a slice of this pie – invest now!