The price of 2 and 3 BHK apartments in Nagawara range from Rs 2,500 to Rs 4,000 per sq ft depending upon the amenities provided and builder. The sizes of these apartments range from 900-1500 sq ft. Nagawara offers properties in the range of Rs 50- 70 lakh.
Many well known developers like Bhartiya City developers, Monarch Group and Shobha Developers have entered the realty market in and around Nagawara, offering almost 2500 housing units.Not only end users but investors too are attracted to the locality. Nagawara has good future prospects and it is an ideal place for those who are planning for long term investment.
The demand for residential properties is increasing because of the close proximity to the Manyata Tech Park and the increasing number of IT companies. The IT professionals are looking for 2 and 3 BHK apartments due to their small family sizes.
The second phase of metro route between Gottigere-IIMB and Nagawara is expected to push the property prices in the area. Once the metro construction is completed, Nagawara will have one of the most flourishing realty markets. In the coming one year, the area is expected an appreciation by 30-40 percent.
1, 2 and 3 BHK apartments are having more demand. The cost of 1 BHK apartment in 600-800 square feet area is Rs 30-40 lakh, for 2 BHK in 1100-1200 square feet area will cost around Rs 50-60 lakh. Whereas, a 3 BHK flat in 1500-1600 square feet area cost around Rs 70-80 lakh. Mostly, IT professionals and businessmen are buying properties in this area. The user-investor ratio is 75:25. Shobha Developers has a lot of under construction projects in this area.
In Nagawara, the price of multi-storey apartments has seen an upward trend by 20 percent in October-December 2012 quarter. Presently, the sale price of multi-storey apartments in Nagawara have increased by 10 lakhs. The area is peaceful with good security measures and is well connected and has ample parking space.
Nagawara is becoming popular as an IT hub and is also attracting IT professionals. The area is just 30 minutes away from airport, it is also near to the railway station and Ring Road. Nagawara is close to offices like IBN software, BHEL, Manyata Tech Park and many other MNC offices, which is making it a hot locality.
Nagawara in North Bangalore is first developing as a one-stop destination for property buyers. The area is becoming popular as it is close to many schools, IT companies and hospitals.
Paras Manyata Phase I by Paras Group which is located at Rachanahalli, behind Manyata Tech Park, Nagwara, comprising of 92 apartments. The project offers 2 and 3 BHK apartments and the price falls in the range of Rs 44 lakh to Rs 69 lakh.