BTM Layout witnesses sudden growth in rental value
The average rental value of a 2 BHK with 1200 sq ft in BTM Layout was Rs 10,000 a year ago, which has now become Rs 22,000. If the place has a park facing then the rate goes up by Rs 4000 extra. The price of a basic 2BHK apartment in this area starts from Rs 18,500.
BTM layout is one of the well developed areas of South Bangalore with Jayanagar, JP Nagar and Bannerghatta Road on one side and HSR Layout, Marathahalli and Electronic city Junctions on the other side.
It is surprising that BTM Layout has witnessed an increase in rental values because the area is known for its congested road with unmanageable traffic jams due to its close proximity to Maruthi Layout, a primarily working class area.
There is no free land available for developments in BTM Layout. But due to its strategic location and corporation water supply the area has seen an increase in demand in rental values. The rental value for a 2BHK in some of the inner areas was as low as Rs 7,000. But today, there is not a single area where the rental value is less than Rs 18,000.
Another reason for the rental rates here are being driven by several ITES companies mushrooming along the main road of the layout. Earlier there were only few companies in this locality. Today several call center companies have set up their offices in this area. As the employees of these organizations are not able to afford renting houses in HSR Layout, Jayanagar or JP Nagar, the rental rates of BTM Layout is witnessing increasing rental values, says a real estate expert.
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