Popularly known as ‘Silicon Valley Of India’ and flanked by stunning skyscrapers, neon flashing malls and swanky residential apartments, Bangalore has emerged as one of the most successful residential real estate markets in India, driven mainly by end-users. According to a report, in 2014, Bangalore was rated as the city that gave the highest average capital value appreciation at around 41% in both mid-end and high-end segments combined. For those looking for residential apartments in Bangalore, the IT capital of the country offering many choices in terms of both projects and localities.
To help you to choose the neighbourhood that suits you the best, here we have discussed some of the top Bangalore localities, which ensures value appreciation as well as have a number of under-construction and ready-to-move properties.
1. Whitefield: Whitefield, also known as the jewel of eastern suburbs, is one of the most preferred localities of the city since a few years now. It has emerged as the self-sustained suburb with residential projects, retail malls, commercial spaces and other social infrastructure in place.
The key factor driving future growth in the locality is the proposed Phase II Metro corridor which will be 18 km long. Phase II metro corridor is expected to be completed by 2017-18. As a result, there will be a significant growth in real estate activity. Also, there is a plan to develop IT special economic zones (SEZs) at Hoodi Village in Whitefield.
In April-June 2016 quarter, the property price in Whitefield ranges between Rs. 3,632-6,243 per sq.ft.
2. Electronic City: As the name suggest, Electronics City is one of the popular IT hubs of Bangalore. With well-developed infrastructure and close proximity to technology companies, the area has now become a most sough-after locality among Techies. Soon, the city will boast of smart movements like parking space checking on your smartphones, smart streetlights and abounding more. Also, an elevated road has been constructed by the government which connects the area to the main city, making the travel easier. The broadening of the Hosur Road has also increased connectivity to this area, which was earlier branded as an out-of-the-city region.
In April -June 2016 quarter, the property price in Electronics City ranges between Rs. 2,825-4,917 per sq.ft.
3. Hennur Road: Being located on the outskirts of Bangalore, Hennur Road is the closest developing residential area to the International Airport. Closeness to the international airport has made Hennur Road a popular residential destination in north Bangalore. Easy access to the city centre via the Bellary Road has further made Hennur Road a preferred place for buyers.
A number of high-end under construction properties in Bangalore are found here with the price tags of Rs. 1 crore and above. In the next 3-4 years, the stretch is expected to become a very expensive and elite location like Koramangala.
In April-June 2016 quarter, the property price of Hennur Road ranges between Rs. 4,066-6,501 per sq.ft.
4. Thanisandra: Located in the North, this locality’s proximity to the employment hubs such as the Whitefield, Outer Ring Road (ORR) stretch, Hebbal and Nagwara acts as a catalyst for price appreciation. Also, the area has many upcoming infrastructural projects that will connect Thanisandra with other parts of the city. The list may include metro rail, ORR and peripheral ring road. Moreover, good social infrastructure, availability of plots, along with a presence of world-class educational institutions and healthcare facilities in and around the locale, proves attractive to investor.
In April-June 2016, quarter the property price in Thanisandra ranges between Rs. 3,954-6,096 per sq.ft.
5. Sarjapur Road: This upcoming real estate hub is near three major established hubs- Electronics City, Whitefield, and Marathahalli. Currently, this region features a mix of residential and commercial developments. According to research reports by Knight Frank, the existing office stock on Sarjapur ORR is around 12 million sq.ft. and upcoming supply is around 7.60 million sq.ft. The area enjoys close proximity to all large IT companies, making it a good residential area.
In April-June 2016 quarter, the property price of Sarjapur Road in ranges between Rs. 4,077-6,970 per sq.ft.
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