Cunningham Road sees rise in property values
The rise in property values depends on many factors – connectivity and commercial infrastructure play a major role in pushing the demand and values.
Cunningham road is a locality that lies in the heart of the Bangalore city. The locality enjoys high capital and rental values owing to the above factors.
According to a real estate expert, the area has witnessed 10-15 percent rise each quarter but in the last quarter there was a hike by 15-20 percent in rental as well as capital values in October- December 2012 quarter.
The area is close to MG Road which is the main shopping destination for the people in Bangalore. Also, many MNCs and banks are setting up their base in the locality, which has increased the demand for the values for multi-storey apartments in the locality.
The locality has many residential bunglows and multi-storey apartments. There are only 3-5 BHK units available in the area at the saleable price of Rs 10,000-12,000 per sq ft. The unit sizes vary from 2,000 – 3400 sq ft. However, there are no new projects coming up in this area because of non-availability of land.
Another real estate expert said that the area is a mix of investors and end-users. The ratio of investors and end-users is 50:50
Who are buying or investing in properties in this area?
End-users are top-notch businessmen, industrialists and corporate company owners who drive the residential capital market in this locality, whereas investors are mainly NRIs.
Rental value in Cunningham Road ranges from Rs 8,000 to Rs 1.5 lakh per month. There is a demand for multi-storey apartments in this locality as many companies have been demanding to house their employees.
The area is well-connected to all parts of the city. It is 4 kms away from Kempegowda Bus Station (Majestic Station) and Bangalore City railway station and 38 kms from Bangalore International Airport which makes it a preferred residing spot for professionals who travel on assignments.
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