Bangalore localities to see development in 2013
According to a report by Karun Varma, managing director, Bangalore & Kochi, Jones Lang LaSalle India, stated that residential real estate in North Bangalore is going to boom in 2013.
North and East Bangalore is close to international airport, the increasing number of IT projects will bring sharp focus in this area. Projects which are under construction on Sarjapur Road, will reach the completion stage and will see more sales as they are ready-to-occupy projects, and the IT corridor will also push the real estate sales.
Residential sales in Whitefield will continue to increase because of the affordable rates and the area is also close to workplace centers. North Bangalore is fast becoming a technology hub as well as a business corridor.
The government is planning to develop this zone for aerospace and hardware park but water supply is still a concern in the North region. In the next three years the upcoming infrastructure will raise the demand for real estate in Bangalore in this belt. Even the elevated flyover is an add on for the real estate sector.
There are large number of projects coming up in Hebbal both mid-segment and upper-segment. In 2013, Hebbal is expected to see at least 20 to 30 percent appreciation in property values.
Thanisandra has seen good demand and appreciation. Areas like Sarjapur Road and Varthur have seen successful launches and increased demand in the residential real estate sector.
In 2013, 3 BHK units are going to be the fastest-moving and witness high appreciation. Infrastructural developments such as the road leading to the airport is now being upgraded to include elevated roads as part of a signal-free corridor. North Bangalore has a lot to offer the potential real estate developers as well as home buyers in the coming year.
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