Investing In Bengaluru? These Are The Best Places To Park Your Money
Looking to invest in Bengaluru? A new set of popular localities has emerged that are all set to offer both low-cost housing as well as mid-ranged properties. But, most home buyers are looking at quality and not just the price. Over the past two years, localities like Electronic City, Hennur, Thanisandra, and Whitefield have attracted a large volume of inquiries.
Here's what's happening in these residential pockets:
Hennur is one of the localities that has witnessed a lot of construction ever since some projects got a kickstart. For example, Bruhat Bangalore Mahanagara Palike (BBMP) completed asphalting of a 300-km stretch. This became a turning point for potential homebuyers as they could get a better physical infrastructure in the locality. However, there have been issues with the work. But, that hasn't dimmed the popularity of the location. Even the basic infrastructure is picking up. Technology parks, tertiary centres of major hospitals are rolling out to add to the jobs market thereby increasing housing demand.
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Luxury too is seeing good times here with leading developers launching projects that provide high-end amenities. The international airport close by is a plus, too.
The flyover project, which was spearheaded by the Bangalore Development Authority (BDA) in 2010 and was expected to be completed by 2012, has been missing its deadlines but investors are eying its benefits already. It would ensure smoother commute between Byrathi Village, Geddalahalli, Hennur, and Kempegowda Airport.
Residential Property Price in Hennur
| Configuration | Average Price |
| 1BHK | Rs 32 lakh |
| 2BHK | Rs 51.67 lakh |
| 3BHK | Rs 93.78 lakh |
| 4BHK | Rs 2.88 crore |
| 5BHK | Rs 5.85 crore |
Improved connectivity and proximity to IT/ITes parks has helped Thanisandra to gain on the list of preferred investment destinations. Data as per PropTiger suggest that the price growth herein has been noteworthy. In April 2013, prices were at Rs 4,100 per sq ft on an average which jumped to Rs 5,300 per sq ft by March 2017. Most of the under-construction projects in south Bengaluru were yet to offload a significant portion of their inventory. This worked favourably for some areas in the north including Thanisandra. This locality is witnessing a rise in demand for mid-segment housing as nearby areas such as HBR Layout, Hebbal and Nagawara offer property at a much higher rate.
| Configuration | Average Price |
| 1BHK | Rs 26.60 lakh |
| 2BHK | Rs 52 lakh |
| 3BHK | Rs 85.5 lakh |
| 4BHK | Rs 1.83 crore |
Whitefield and Electronic City have always been the two most popular localities of Bengaluru. Investors, end-users and those looking at pure rental returns eye these markets. Thanks to a range of properties available here, it provides for almost all segments of homebuyers. Having said that, after the implementation of the Real Estate (Regulation & Development) Act, 2016, new launches have come down as buyers seek quality constructions. The upcoming infrastructure such as the Metro line extending up to Whitefield, flyovers, Outer Ring Road (ORR) and the eight-lane Peripheral Ring Road will further enhance the connectivity of the area. In Whitefield, residential price growth may be slow but given the variety of offerings and the potential of the city in terms of its real estate wealth, the growth is sizeable and stands at an average of Rs 4,900 per sq ft as opposed to Rs 4,100 per sq ft in 2013.
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| Configuration | Average Price |
| 1BHK | Rs 34.10 lakh |
| 2BHK | Rs 50 lakh |
| 3BHK | Rs 89 lakh |
| 4BHK | Rs 2.82 crore |
Residential Property Price in Electronic City Phase 1
| Configuration | Average Price |
| 1BHK | Rs 25.19 lakh |
| 2BHK | Rs 39.78 lakh |
| 3BHK | Rs 64.03 lakh |
| 4BHK | Rs 1.84 crore |
In terms of searches on PropTiger.com, here is the list of most preferred localities between April 2016 to March 2017: Electronic City Phase 1, Begur, Bellandur, Harlur, Hope Farm Junction, Hoskote, Kannur on Thanisandra Road, KR Puram, Off Sarjapur Road and Whitefield.