Hennur emerges as a popular residential destination
Hennur, an area located in the northern part of Bangalore, has been emerging as a popular residential destination. The prime reason for the growing demand for residential real estate in this area is the close proximity to Bangalore international airport at Devanahalli.
There was a rise of 9, 12 and 5 percent in property price in Hennur, Hennur main Road and Hennur road respectively. Hennur is not completely developed and still there is a great need of infrastructural developments. However the locality has bright future prospect. The government is planning to widen the Hennur Road to four-lane highway along with Cargo road for the International Airport.
Currently, investors have taken 70 percent of the real estate market in Hennur and Hennur road. The area has witnessed a higher supply of premium projects with price ranging from Rs 80 lakh to Rs 1 crore. The real estate developers prefer to deliver luxury projects rather than affordable and mid-segment properties, as they look for maximum profit on their projects.
The property prices in Hennur Road are higher than prices in Hennur, as more luxury properties are available in Hennur road. Properties in Hennur are priced at around Rs 3,500 to Rs 4,000 per sq ft. While enjoying a premium to Hennur, the Hennur Road properties also fall into two categories- HBR layout and HRBR layout. On one side of the Hennur Road is HBR layout which commands a price of Rs 6,000 to Rs 7,000 per sq ft while HRBR layout on the other side demands little higher with prices ranging from Rs 8,000 to Rs 10,000 per sq ft.
In the coming years, the locality is likely to see a new dimension because of its short distance from the city centre, planned developments and the close proximity to the airport. With this, the property prices are also expected to go up by 15 to 20 percent in the next one year.
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