Real Estate Market in Bangalore is Booming
Rentals in Bangalore is booming. The reason is rise in demand for rental properties.
Prices of homes in the city have shot up over the last six months, making it difficult for most to own and maintain a house. The property consultants believe people will now prefer to stay on rent rather than purchase an apartment due to the escalating prices.
RYN Rao, Head of Sattva Real Estate Solutions, the real estate market research wing of Sattva Group said “There are two main criteria for a property fetching good rental value- one is the location and second is amenities. A property located in the Central Business District (CBD) and which is well-connected will always fetch high rentals. Gated communities and high-end apartments with all amenities are also fetching high rentals irrespective of the location.”
Rentals in CBD and extended CBD areas like Indiranagar, Koramangala, Malleswaram etc have gone up. The reason is demand for properties in these areas. Retail spaces are also in big demand in these areas. Gated communities in the outskirts like Whitefield, Sarjapur Road, Outer Ring Road etc where amenities are good are also fetching very high rentals. The reason is upgradation in the standard of living.
Source: mybangalore.com
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