Rental values in Indiranagar witness hike
Areas which are closed to IT offices and economic zones are witnessing an increase in rental values. But the hike in rental value in Indiranagar is noticeable. There was an increase of 11 percent in rental value last year.
Indiranagar is no more a residential area as several commercial establishments have emerged in this locality which has also impacted the street. In compared to other areas in the city, there are more high end stores in Indiranagar. The region is fully fledged with fitness centers, eateries, cultural hubs and branded stores. The appeal of an upmarket commercial area has pushed the rental values in the locality.
The region is surrounded by Old Madras Road, HAL 2nd Stage, HAL 3rd Stage, HAL Airport Road (old airport), Halasur, Jeevenbheemanagar and Thippasandra.
Indiranagar is one of the most expensive localities in Bangalore. The area is constantly seeing high demand for rented apartments. A semi-furnished 2 BHK is available within the range of Rs 20,000-25000, where a 3 BHK comes for not less than Rs 30,000 per month. People are coming from different parts of the country to the city to settle down which in-turn pushes the demand up.
The real estate in this region is blooming up day by day and is a highly value area. Highly reputed builders are investing in the projects of this region as the benefits are notably high. So, it is a wise choice to invest in the region.
The area is well connected with other areas of Bangalore with buses and moreover the area is also benefitted due to Namma metro line which runs through Indiranagar that includes two stations – Indiranagar and Swami Vivekananda Road. Indiranagar also comprises of top schools, colleges and hospital.
There are few new projects coming up in Indiranagar and they are The Aeries Residences, Gopalan Admirality Court and Bogineni Park West which is expected to get completed by next two years. Other areas that witnessed increase of 4-6 percent in rental values include Electronic City, HSR Layout, Whitefield, Banshankari Stage 2, Marathahalli and Malleshwaram.
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