New Delhi, June 06, 2018: The Bangalore real estate market has always been known as a relatively stable market since it is primarily driven by the end users. The city has been witnessing a growth in the number of IT companies which has been further driving the demand for real estate in the city. Known for its multicultural population, brilliant educational institutes, and great social infrastructure that is well complimented with constantly evolving physical infrastructure has also been a driver in attracting investments from across the globe.
The top five locations that are currently booming in the city are:
JP Nagar:
JP Nagar is considered as one of the fastest growing localities in Bangalore due to the booming real estate and infrastructure development in and around this region. Presence of major IT Parks and commercial zones along with a thriving high street retail and entertainment hub nearby resulted in becoming the preferred destination for the potential home buyer. As a result of this, there has been a growing demand for real estate in the region. The sudden influx of housing demand has pushed prices upward here.
A home buyer has different options for buying homes when it comes to residential apartments in JP Nagar, ranging from 3BHK to 4BHK, which are the most preferred configurations As the area has been established as a residential hub, the presence of arterial road boosts the connectivity to the region. Places like Bannerghatta Main Road, BTM Layout, Kanakapura Road & Gottigere-Kengeri Road and IT Hubs like Electronic City are in close proximity to JP Nagar and are driving the realty demand here. The area is also strategically located with Koramangala and Majestic 20-25 mins away from the destination. The 8-lane Outer Ring Road passes through the centre of the locality thus boosting connectivity to the location. The rise in property rates in these areas, coupled with limited land availability led JP Nagar to emerge as a better investment option in many cases.
The area has a presence of many renowned educational institutions like IIM Bengaluru, National School of Business, RV Dental College, and Columbia College and international schools like St. Paul’s English School, The Brigade School, Innisfree House School to name a few. The area has a number of hypermarkets, supermarkets, shopping centres, grocery stores, bookstores and other general stores. The locality has a number of multi-speciality, super speciality and general hospitals like Manipal Hospital, Shekar Nethralaya, Rajshekar Hospital, Apollo Cradle, etc. Also, with the presence of Ragigudda temple in the area, there has been growing demand for residential spaces in the region.
Considering the development in infrastructure, JP Nagar has been a hotspot for residential development. Presence of IT parks, commercial zones, high street retail and entertainment hubs have attracted many home buyers. This region is adorned with Mini Forest, parks, water bodies, ample amenities, wide roads, drama theatres like Ranga Shankara which are popular recreational destinations for home buyers.
Taking into account the above factors, the price trends in JP Nagar are likely to see an upsurge in demand for homes in the near future. Currently, the rates are quite competitive in the region and various options are available for the home buyers across the segment. The rates of residential property have appreciated 50% during the last four years. Having a good social and physical infrastructure along with good connectivity to other areas of the city makes JP Nagar a good investment destination for the potential home buyer.
Jayanagar:
Jayanagar is known for its residential and commercial spaces. The induction of this region into the Bruhat Bengaluru Mahanagara Palike and the presence of the International Tech Park (ITPB), Jayanagar real estate market have been on the upswing.
Jayanagar is considered as one of the very calm residential areas that still retains the old Bangalore charm. Due to the presence of IT industry, the demand for flats in Jayanagar has shot up rapidly and the locality now has a cosmopolitan feel.
The area is also known for being an educational hub, with major institutions like the Vijaya High School and Sudarshan Vidya Mandir National College etc. Nethradama and Sanjay Gandhi Hospital & Research Institute are among the very prestigious hospitals located in the area.
There is good connectivity to several business hubs which includes Bengaluru City Junction Railway Station. It also connects to the most important parts of Bengaluru, like Bannerghatta Road, BTM Layout, KR Road and Banashankari.
Overall, Jayanagar has good life indicators such as water, sanitation, environment, mobility and other amenities. Jayanagar is an appropriate place where one can find the quality of life.
Koramangala:
Koramangala is deemed as a residential destination that attracts affluent in Bangalore. Along with posh residential spaces, it also offers excellent social amenities for its residents. Being considered as the unlivable zone, in the 1980s and 1990s to metamorphosing into a major residential-cum-commercial hub in recent times, Koramangala has grown exponentially. After the association to beautify this area, the demand for residential apartments has grown up. Divided into three- lined avenues such as premium apartment complexes, bungalows and offices, Koramangala is becoming a cosmopolitan and posh locality for the potential buyers. Also, due to the area’s transformation into a major IT and startup hub, demand for flats in Koramangala has now escalated.
Excellent connectivity in the form of Bangalore City Junction railway station lays 9kms away along with Kempegowda International Airport is in close proximity. Presences of reputed schools, colleges, hospitals have boosted the demand for housing in this location.
Bellary Road:
The Bellary road micro-market has emerged as one of the fastest growing residential areas of Bangalore with a lot of infrastructure developments and commercial projects. The area is also well connected by road, rail and air. With close proximity to the commercial and industrial catchment areas of Hebbal, Yeshwantpur, and Devanahalli, Outer Ring Road etc., Bellary road is expected to be the next Central Business District of Bangalore. Other factors like availability of large land parcels, proximity to the airport and good connectivity are attracting home buyers to this location. The development of new flyover and metro project will further boost connectivity to the location.
Haralur Road:
Haralur is one of the most preferred residential destination in Bangalore owing to connectivity with the nearby areas, employment hubs, schools, and upcoming physical infrastructure. Haralur road witnessed a major transformation, after the IT boom during the 1990s, after which demand for flats in Haralur has gone up steadily. There are diverse options available, when it comes to buying apartments in Haralur, although 2 and 3-BHK are the most preferred ones here. Due to its closeness to major IT parks in the city, along with the ready availability of all necessary social infrastructures, Haralur offers good scope for property price appreciation.
Corporate Comm India(CCI Newswire)
