Bangalore sees increase in rentals
A recent survey revealed that there was a 20 percent hike in the rentals for Bangalore when compared the rents of a 3BHK residential apartment in the third quarter of last year (Jun-Jul-Aug ’12) over the third quarter of 2010 (Jun-Jul-Aug ’10).
A real estate expert commented that, the rental values in localities such as Electronics City, Bellandur and Sanjay Nagar have increased over couple of years because of the connectivity getting better.
The rental value is also increasing in Indiranagar as the area is benefitted due to the Metro and the Outer Ring Road connecting Hebbal to Sarjapur has ensured that localities on and near this route including Marathahalli, Whitefield have better connectivity.
An over view at the rentals of a 3bhk house in key localities of Bangalore:
In the last two years, areas like Whitefield, Indiranagar and Outer Ring Road saw rentals appreciate by over 30 percent. Kundanahalli and Mahadevpura saw approximately 10 percent increase in rental values in the third quarter of 2012.
All localities of South Bangalore saw escalation in rentals. HSR Layout has seen the highest appreciation with the rentals going up by 28 percent. Other areas which have seen escalation in rentals more than 20 percent increase in rentals are Koramangala, JP Nagar and Electronic City during the same time period.
Over the last two years, Hennur Road and RT Nagar in North Bangalore saw rentals prices appreciate by 17 percent and 25 percent respectively. On the other hand, Hebbal has not seen much movement when the rental values of the locality in the third quarter of last year compared to the third quarter of 2010.
Read more real estate news:
apartments for rent in bangalore, Apartments in Bangalore, Bangalore, Bangalore realty, Indian real estate, Indiranagar Bangalore, Real Estate in Bangalore, renatl value in Bangalore, rental values, Residential real estate
