subject: Rising Demand For The Residential And Commercial Properties In Bangalore A Lucrative Business [print this page] In order to buy property in Bangalore it is believed that careful thought and discussion are required for this. Locations plays a major factor when you intend to buy properties because you want to purchase the properties in those areas which has close connectivity to all the major destinations. Real estate Bangalore especially in terms of luxury homes have received high interests from especially from the buyers from India as well as abroad. Certain areas in Bangalore like the BIAL, Metro Rail corridor, ITPL, and Electronic City have known to be the perfect landmark for having the residential property in Bangalore.
It has been reported that the value of the project increases due to its easy access to the main roads and for this reason the properties along Outer Ring Road, Bannerghatta Road, Airport Road, Kanakapura Road and Hosur Road have seen to have huge rise in the prices. According to Sheriff, the price of property in Bangalore especially in Bannerghatta starts at Rs 5000 per sq ft, while for the Whitefield it ranges from Rs 6500 - 8000 per sq ft, while the other areas of residential property in Bangalore for example Hosa Road, the value for the land will range between Rs 1000-1250 per sq ft in the next 3 years. He again addressed that villas are offering better investment option in real estate Bangalore especially in the Eastern localities like Whitefield. According to him the IT professionals who are trying to invest in the real estate, then Electronic City is a good option.
Coming to the another locality i.e. Koramangala which is located in the southeastern part of the city bangalore, is known to be one of the posh areas consisting of luxury apartments, commercial structures and bungalows. According to Ajay Hosmani, a local realtor from Fourth Dimension Real Estate Consultants who says that the rate of the properties has been shown to have steady rise in this area.
The demand for the multi storeyed apartments in North Bangalore is seen to have an steep rise among the residential property in Bangalore. The reason is that it is at the close vicinity of the International airport in Devanahalli. 1 BHK apartments have gained importance in localities closer to this area. The localities that have been highly benefited in terms of property in Bangalore are KR Puram, Nagavara and Thanisandra. The recorded data suggests that the demand for 1 BHK apartments was at 5% in the month of January to March, which has seen to have increase by 21% in the month of April to June 2012. The economy segment for the real estate Bangalore for 2BHK apartments is around the range of Rs 1,300 - 1,400 sq ft. Some of the famous developers in this part of Bangalore are Preeti Developers, Akshaya Developers, Columbia Developers, Millennia Ventures and Projects India Pvt Ltd. This developed area is blessed with Kaveri water facilities along with schools, malls, shopping complexes as well as big retail malls.
In recent past most of the areas like Yelahanka, Dasara halli, Bommanahalli and Hormavu have seen to have tremendous growth in the realty sector in the past. The current capital values of residential sector varies between Rs 1800 - 4000 per sq ft which is considered to be affordable compared to other localities. As the State authorities have taken necessary measures in order to develop proper transportation, power, sewage treatment as well as amenities required for good living, hence all those activities will contribute a complete rise in the property values.
