Rental values in HRBR layout witnesses increase
If you are looking for a property that will bring you high rental values, then HRBR layout is the best option. Sources say that in January-March 2013 quarter, HRBR layout has seen an increase of 113 percent in rental values.
Reasons that make HRBR Layout in demand are:
The area is situated at north Bangalore and it is easy access to the outer ring road and to the airport. The area is well connected to the main areas in Bangalore. It is 9 to 10 kms from MG Road and 30 kms from the airport.
The area is located between Bagmane Tech Park, ITPL and the Manyata Tech Park is just 4 kms away. HRBR layout is easily accessible to other established IT locations like Whitefield and Old Madras Road.
Another important reason is that HRBR is a well planned BDA layout with a mix of greenery, housing and open space for which the rental value is raising.
Rental values range from Rs 200 to Rs 300 per sq. ft per month, whereas capital price for multi-storey apartments are in between Rs 6,000 to Rs 8,000 per sq. ft. In the last quarter October to December 2012 the area sees a rise by 15-20 percent.
Which group of people rent out apartments in this area?
People who are working in the near by IT hubs are searching for rent in this area; as a result, investors get regular rental returns. The area also witnesses a demand for business and retail segment since lot of shopping complexes, malls, restaurants and cinema halls are coming up in HRBR Layout.
Premium developers such as Aashrithaa Estate, Mantri Dwellings, Dreamz Infra India and DLF have launched several projects in the area. But Stage III of this layout faces lot of development problem while other Stages are well developed.
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