Bangalore Property in Well connected Regions of the City

Certain Bangalore property is reaping the benefits of greater connectivity through the outer ring road to other regions as well as a proximity to the international airport. Property rates in Bangalore at many such regions of North Bangalore are coming under the radar for the reasons mentioned as well as greater connectivity with important IT parks. With a large number of new projects in Bangalore set to be constructed at these regions of the city, parts of North Bangalore are becoming increasingly attractive as top destinations to purchase real estate in Bangalore.
Residential projects in Bangalore at many regions such as Hebbal and Bellary Road are on the upswing and end users see such destinations as attractive localities to purchase property in Bangalore. Much of the new developments in Bangalore at such destinations may be categorized as affordable and hence such locations appear prominently among the preferences of budget homebuyers who are looking for well-built flats in Bangalore that are well connected with the rest of the city especially with employment hubs and where there are homes priced under 1 crores.
The continuing trend towards developments in regions of the city that are not at the center of the city is a potent symbol of the kind of development occurring across the city, as Bangalore continues to develop, demand for affordable homes from end users keen to own their own home in the IT hub is a promising symbol of the future of real estate in Bangalore. Many such homebuyers are eager to own flats in Bangalore which are affordable and also likely to continue to appreciate in value for the next few decades as such outlying regions become better connected with the rest of the city. North Bangalore is one such region and has an additional advantage, namely large commercial enterprises are beginning to see the potential of the locality due to the increasingly greater disposable income in the hands of residents of the area.
For a midlevel employee looking for apartments in Bangalore, North Bangalore is a desirable locality the great potential of which should be considered when buying property in this region of Bangalore. Many of the new developments in Bangalore are under construction at regions such as Hebbal and such regions are likely to grow in prominence as well as appreciate significantly in value and grow in commerce as the nearby international airport grows due to the economic multiplier effects such colossal projects usually bestow upon nearby areas.
Much of the currently affordable property in Bangalore located at North Bangalore is likely to garner a premium aura over the next few decades, great connectivity and close proximity to important commercial centers are advantages which nearly always pay huge dividend to surrounding real estate over time. In a 24 x 7 work culture when the vast majority of time is increasingly being spent in the office a short commute to work is a luxury which saves valuable time which can often lead to better balance between work and life of employees.

Real estate property in Bangalore sees a great Demand

The real estate property in Bangalore has seen a good demand on the back of robust connectivity, burgeoning industrialization, excellent social infrastructure and not to miss the amazing weather.

Real estate property in Bangalore has come up the curve with tremendous development of luxury apartments in the past few years. The developers and reputed builders are venturing into constructing premium, high-end and luxury apartments and villas to cater the need of the HNW (High Net Worth) segment of the society which includes not only the IT professionals, but also the rich business tycoons and magnets who are making profits from the Industrial boom in the state of Karnataka. Luxury apartments in Bangalore offers state of the art infrastructure and top notch amenities. These are designed to match the high class lifestyle. Amenities like helipads, gazebo adds to the attractiveness of the residential projects.

The real estate growth and the market trend have encouraged both the builders and buyers to invest in luxury apartments in Bangalore.  These apartments have been designed keeping in mind the basic requirements of its buyers.

Good location, away from the hustle and bustle of the city.
Proximity to basic facilities like shops, parks, hospitals, schools, etc.
Ultra modern design .
Well ventilated and spacious.
Car parking facility.
A very crucial aspect which has contributed in the boom of the industry is the way the city is planned. The development authorities have designed the city in a circular style which enables growth in all directions. Considering the whopping population of the city they have major infrastructural projects lined up which include Metro Rail (Phase I and II), Bangalore-Mysore Infrastructure Corridor, Signal-free Outer Ring Road, Expressway to the Bangalore International Airport, High speed Rail to the airport and many more.

Captured below are few hotspots in Bangalore that offers extravagant luxury houses.
Hebbal - Strategically located in the northern part of Bangalore, Hebbal is known to be the new Bengaluru. The region enjoys excellent connectivity to Kempegowda International Airport and nearby locations such as RT Nagar, Vasanth Nagar, Shivaji Nagar and Benson Town etc. With many blue chip companies entering in the space, Hebbal is expected to emerge as an industrial hub and generate a good number of white collar jobs. This is why many Grade A+ developers are showcasing their interest to launch luxury projects in this area.

Whitefield – Geographically located in the eastern part of Bengaluru, Whitefield  emerges as one of the biggest IT catchments of the city. Apart from this the region also enjoys a robust connectivity to other parts of the  city.  The region also enjoys easy accessibility to National Highway (NH) – 7 (Outer Ring Road) and proposed Peripheral Ring Road. It is also well connected to the IT/ITeS industry of Electronic City, Sarjapur & ITPL. The residential real estate of this region has seen a massive boom in the last decade and has majorly contributed in speeding up its growth and raising the demand.
Many reputed builders are showcasing their interest to launch luxury apartments in these two hotspots of Bangalore considering the future prospects.

Property Rates in Bangalore in Third Quarter of Current Year

The first quarter of this year may have been rather uneventful pertaining to the price of Property in Bangalore, the cities real estate prices at a few localities did inch forward, but just an inch, posting no gains to write home about but nothing to indicate anything ominous either.

 

The trend described above may indicate that the markets as yet are tentative regarding the future direction of real estate property in Bangalore, unsure whether this is a buyers’ market or a sellers’ market, prices may simply have risen slightly just as prices of real estate are expected to gradually rise over time. Some parts of the city posted gains in prices that were higher than in other parts of the city, yet real estate prices in a few regions of the city did fall moderately. Ostensibly, there is no likely trend and the market may simply be ambling along largely unconcerned with the activity of buyers and sellers. 

However, what may the market be covertly trying to show us? In many ways, to those who listen, the market reveals what is really going on. One signal the market is telling us may be gleaned from the price of readymade property versus property in Bangalore that is still under construction. It would seem that the price of readymade 2 & 3 BHK flats in Bangalore has dropped in price compared to the price of similarly sized flats which are still under construction. Whereas the difference between the prices of the completed homes and those still in the process of being completed was 6 percent in the final quarter of last year, in the first quarter of this year the difference was only 5 percent.

As largely, the price of ready to move in 3 and 2 BHK flats in Bangalore has appreciated, one can safely assume that since the price difference between the prices of ready to move in flats and that of those under construction has narrowed, the price of flats in Bangalore that are under construction too has gone up.

Hence, we may guess that the price of property in Bangalore that is still under construction too has largely appreciated. This is good news for builders in Bangalore; they can now off load their inventory which is still under construction at a higher profit when they decide to sell at some future date. It’s also good news for those who bought these upcoming projects in Bangalore as mostly likely; many such buyers have already seen the value of their investment rise in value.

Of the many such projects in Bangalore that are still in the process of being completed, not all units may have as yet been sold, those which are still with the builder today provide a much valued and appreciating asset to the builder. Those flats in Bangalore which are under construction and in the hands of private investors can be sold by the same in the secondary market at a modest gain. Yet the direction of real estate in Bangalore, the future trend extrapolated from current trends, may actually point towards greater demand for Luxury apartment in Bangalore in the third quarter.

In the third quarter we may find the price difference between ready to move in property and property under construction to narrow further and the price of both to appreciate, as it has likely done in the first quarter of 2016. Though the gains may be modest, property rates in Bangalore in the future are likely to point upwards.