Bangalore, known as Bengaluru or rather the silicon valley of India is one of the leading metropolitan cities and is widely popular in the country for real estate investment. Given the technological boom, growing IT sector, and ever so increasing start-ups, the city is witnessing an exponential growth in the demand of real estate. The trend is promising to show the same growth or might even witness a bigger curve, thus making Bangalore an attractive market for real estate developers, investors, and home buyers. Bangalore is divided into 4 zones, i.e., north, west, east, south and this blog primarily looks at the best places to invest in these zones based on market insights, data, and trends.
In terms of housing, both luxury and affordable housing is subjected to huge demand, however given the demographics and disposable income structure, affordable housing is still one of the fastest growing investment areas. There are several factors one might need to consider before making an investment decision, but ROI and neighbourhood will always remain the first two criteria an interested buyer will look into.
Whitefield is located in the eastern side of the city and is around 20 kms away from the city centre, and it is widely known as the major IT hub of the city and has contributed a lot to the overall city’s development. The area has a lot of IT companies headquarters and corporate offices, malls, restaurants, bars and cafes. Some of the major IT parks located in the area are ITPL, Prestige Shantiniketan, Brigade Tech park , EPIP zone etc. and thus the area attracts a lot of IT talent. The area is also well connected to other parts of the city via rail, bus, and other modes of public transport. Moreover, with the metro project in the pipeline, it is going to get further connected, thus making it easier for people to move around. In terms of pricing, apartments in this area start from Rs. 7000/sq. ft and go up to Rs. 8000-12,000/sq. ft.
One of the most acclaimed IT hubs for Indian companies for large scale campuses in Bangalore, Electronic city is seeing a remarkable growth in properties, both commercial and residential. It is spread over an area of 700 acres, and is one of the prominent concentrated tech zones in the city, rather than the entire country. It is spread over phases and is distanced at around 18 kms from the city centre. It is well connected to the other parts of the city via elevated corridor highway and will be further connected via the upcoming metro line in the area. The area has seen a significant increase in property prices in recent years, with the average property price in the area now standing at around Rs. 6,000-8000/sq. ft.
Hebbal is situated around 10 kms from the city centre and is located in the northern side of Bangalore on the highway to international Airport. Hebbal, unlike the IT parks of Bangalore is an old area with buildings ranging from skyscrapers, mid-level and low range constructions. The area is seeing a growth in demand because of connectivity and proximity to the over congested central area. Furthermore, the way the area is planned, it is strategically constructed to accommodate future population growth. It is not really far off from the Bangalore airport, unlike the IT hubs and it usually falls on the travel routes connecting major parts of the city. It is closely located to the IT parks such as Manyata tech park, TCS, IBM, Cognizant etc. Approximate price for the apartment at Hebbal ranges from Rs. 10,000/sq. ft.- Rs. 15,000/sq. ft.
It is one of the ideal hotspots for real estate investments in the city and is currently in the developing phase and is soon to become a future IT hub. Located around 20 kms from the city centre, Sarjapur road has become a prime choice for companies, HORECA, and individuals given its connectivity to other IT hubs such as, Electronic city, Whitefield, and Marathahalli. It also houses well known hotels, malls, shopping complexes, educational institutions, and hospitals. In terms of connectivity, Outer Ring Road (ORR) metro line is going to connect Sarjapur to the rest of the city, thus making it a good investment option for home buyers and a good housing choice for IT talent. Price of apartments at Sarjapur road starts at Rs. 7500 /sq. ft. and goes up to Rs. 13,000/sq. ft
Another established locality in Bangalore is HSR layout, with an average property price of Rs. 11,000 per sq. ft. This area is becoming more and more popular because of its infrastructure, connectivity, and large number of IT start up companies. Given the rise of IT talent moving to this area, educational institutions and retail outlets are also opening their branches in this area, making it a good option for families.
Located further north of the city in the outskirts, this area is around 16-18 Kms away from the downtown Bangalore. Given its proximity to the airport and upcoming hubs in the North such as, ITIR, SEZ, Devanahalli Park, Global financial district, Aerotropolis Aero city, and medical hub, this area is now gaining momentum in terms of construction of residential complexes. The locality has a perfect blend of villas and multi-storey apartments. In terms of connectivity, it is well connected via highways, metro line, bus routes, and IT corridor along ORR. The price of an apartment in Yelahanka ranges from Rs 7000 /sq. ft- Rs 9000 /sq. ft. The average price is approximately Rs 8,000 /sq. ft.
Located in west Bangalore, Tumkur road is a growing micro market, which has seen an exponential growth in both commercial and residential projects over the recent years. The growth is driven by the close proximity to areas such as Jalahalli, Nagasandra, and Yeshwanthpur. Moreover, it is located on the Green metro line, which further boosts connectivity to industrial hubs, such as Peenva industrial hub. Also, Tumkur road is situated close to NICE ring road and Bellary road, which provides good interstate connectivity. Furthermore, as the construction of a new railway corridor connecting Nelamangala and Baiyappanahalli is about to get completed, the area is going to get even more connected, and hence is becoming a preferred residential choice for many home buyers.
Nestled close to many posh localities like Jayanagar, JP Nagar and BTM layout, Bannerghatta road (state highway 87) is a calm oasis strategically located in the middle of a bustling south Bangalore. Bannerghatta road is one of the highly coveted real estate destinations in the city, with many IT/ITes firms establishing their base in the area. It is close to several employment hubs and has a good social infrastructure with malls, cafes, restaurants, and complexes, such as Vega city mall. It is located on the Pink metro line of Namma metro and has upcoming 4-5 stations along with several other connectivity projects. The average capital value along Bannerghatta Road ranges between Rs 7,500 and 10,000 per sq ft.
These are some of the main areas in Bangalore one should look at while making a real estate investment on account of their infrastructure, popularity, inventory status, and price growth. Moreover, Given the rapid pace at which the city is growing and several government projects such as IT corridors, metro and ORR, all prime areas of Bangalore are going to get further connected. This will result in an uptrend in demand for apartments and as well as hike the property value. Furthermore, as the city develops, more and more people will move for work, and existing talent will see a growth in disposable income, thereby adding to the growth of both affordable and luxury residential sectors. Lastly, apart from locality and ROI criteria, one should make this decision by contemplating on other essential factors such as, needs,