North Bangalore emerges as an investment destination
North Bangalore was one of the safest and most lucrative residential property investment bets. The main reason for the growth is because of the improved infrastructure, developing social infrastructure, planned commercial developments, proximity to the international airport and enhanced connectivity.
North Bangalore will continue to grow, because of the massive potential for capital appreciation. Hebbal, Hennur Road, Thanisandra, Doddaballapur Road, Yelahanka and Jalahalli are some of the localities in North Bangalore where leading real estate players have their presence.
Projects which are under construction on Outer Ring Road will get completed by few month which will increased sales in real estate market. Preference for ready-to-occupy projects by users will also help to increase the sales. Similarly the rental values will also witness appreciation.
The infrastructure initiatives such as the high speed rail link, Hebbal-Yelahanka Expressway, and elevated Expressway to the airport, that are in different stages. Once the elevated Expressway is completed, it will lessen the travel time.
The easy access to the Outer Ring Road puts North Bangalore in close contact with the rest of the city too. The region is also well connected to Old Madras road and Sarjapur Road.
The Information Technology Investment Region (ITIR) and Aerospace SEZ planned by the government will also provide momentum to north Bangalore with a growth horizon of 3-5 years.
North Bangalore is slowly showing signs of emerging as the next IT Hub. North Bangalore will continue to look attractive for commercial real estate also. The IT growth corridor will also impact the real estate market.
Infrastructural development, close proximity to the airport and office space supply coming up will provide continuing impetus. North Bangalore will strengthen its status as the business continuity location of choice.
There are large number of projects coming up in Hebbal both mid-segment and upper-segment. In 2013, Hebbal is expected to see at least 20 to 30 percent appreciation in property values.
Areas like Thanisandra has seen successful launches and increased demand in the residential real estate sector.
Hennur is also emerging as a hot residential destination. There was a rise of nine percent in property price in Hennur this quarter and now the prices of properties in Hennur ranges in between Rs 3,500 to Rs 4,000 per sq ft. The area has witnessed a higher supply of premium projects with price ranging from Rs 80 lakh to Rs 1 crore. The property prices are also expected to go up by 15 to 20 percent in the next one year.
Nagawara in North Bangalore is first developing as a one-stop destination for property buyers. The area is becoming popular as it is close to many schools, IT companies and hospitals. Presently, the sale price of multi-storey apartments in Nagawara has increased by 10 lakhs. The area is peaceful with good security measures and is well connected and has ample parking space. Nagawara is becoming popular as an IT hub and is also attracting IT professionals.
In 2013, 3 BHK units are going to be the fastest-moving and will witness high appreciation. North Bangalore has a lot to offer to the potential real estate developers as well as home buyers in the coming year.
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