The Hi-tech City Bangalore Sees Surge In Villa & House Ventures

Unlike some years back, in the turn of the century

, people were demanding apartments and flats. Residential projects were more concentrated on developing small units. Things are changing in Bangalores realty sector. More than 15 developers, including reputed real estate companies, are now bringing plush residential projects in the city. The growing lifestyle of Bangaloreans has led to a spurt in house and villa project in the city.

There is stiff competition among developers and builders on giving the finest projects with best possible prices. Buyers demand projects with modern amenities with best possible prices. Developers are competing among each other to give best possible amenities, which were unheard of. The demand of villas and houses has led to influx of developers in the city. According to market sources, competition from other metropolitan cities of India likes Mumbai, Pune and Hyderabad have further fueled the competition.

The suburbs of Bangalore have multitude of these projects. Villa and House for Sale in Bangalore are available in Whitefield, Devanahalli and Yelahanka-Doddaballapur road. These houses and villas have 3, 4 or 5 BHKs and pricing depends accordingly. The price range in these locations ranges from Rs 2.5 crore and Rs 10 crore per residential unit. Pricing depends also on the location, neighborhood, connectivity levels and developer. Amenities and specifications also influence the price of property. Like swimming pools attached to villas increases value to the property.

These villas and houses if given for rentals will also draw huge amount. Rent ranges from 1 lakh to 3 lakh and depends on the amenities included. Demand for such type of property comes from senior corporate executives, high net worth individuals, NRIs and even some institutions. The leasing demand is more from expats living in the city. Villas and houses located in near schools, commercial areas are more in demand.

The developers in Bangalore gave an average number of sales of houses and villas. On an average, the developers sell 2 villas in a month. The sale of houses and villas boosts if the developers keep a model ready. Buyers like to see what is in store before investing money. It also helps in decision-making process.

Some of the prominent developers who are constructing villas in Bangalore are Chaithanya, Embassy, Prestige, Hiranandani, Adarsh, Sobha, Divyashree and Century Real Estate. New market players are also venturing into constructing villas. Some new entries are Kent Properties, Nitesh Estates, MIMS Builders and Anchor group.

Nitesh Estates, a well-known property developer is launching a villa project near the Bangalores international airport. The project will have villas comprising of 3, 4 and 5 BHK and cost are mentioned at 10,000 per square feet.

Another property developer, Brigade Group is constructing villa project in Devanahalli. Cost of per unit starts from 2.9 lakhs.

by: mnk99

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