Residential real estate boom in Electronic City
Bangalore- Electronic City, the largest industrial technology hub of Bangalore, has been witnessing boom in the residential real estate sector.
The huge workforce of IT companies and various small scale and large scale industries in the surroundings has driven Electronic City towards the vast development of residential and commercial segments.
In the past few years, the area has witnessed numerous residential and commercial developments happening. Currently there are around 55 new residential projects among which around 35 are in construction stage and around 20 projects have been delivered while many more residential projects are upcoming.
Electronic City has easy accessibility to the city center through elevated expressway. It has good connectivity to other major hubs of the city such as Hosur Road, Sarjapur Road, Bannerghatta Road, Outer Ring Road, Whitefield, Kanakapura Road Bommasandra Industrial Area and Attibele Industrial Area. The connectivity also acts as a key factor contributing to the realty development in the region.
The area houses numerous projects developed by renowned developers including Patel Realty, Sobha Developers, Salarpuria Group, Prestige Constructions, Godrej Properties, Puravankara Group, DLF, Mahindra Homes Pvt. Ltd, Concorde Group and Ajmera Housing Corporation.
Although a wide range of properties are available in Electronic City ranging between various rates and area, mostly 2 and 3 BHK units within an area of 1000 sq ft to 1900 sq ft are in demand. Current per sqft rate for residential properties in Electronic City is around Rs 2,500 to Rs 3,500. And the prevailing rental rates in Electronic City for 2BHK and 3BHK are approximately around Rs 15,000 and Rs 20,000 per month respectively.
Developing infrastructure, reputed schools and colleges, industrial growth, renowned hospitals and good connectivity are all playing a key role in fueling the demand for properties in Electronic City.
Basic amenities offered at projects in Electronic city include swimming pool, gym, club house, jogging track, kids play area and sports areas. Luxury project developers are offering high-end amenities like amphi-theatre, meditation center, supermarket, various sports area and so on.
Godrej Properties, the real estate development arm of the Godrej Group, has launched the second phase of Godrej E-City in Electronic City. Patel Realty’s Neotown township, which is the first to be pre-certified by the Indian Green Building Council (IGBC), is also located in Electronic City.
Ajmera Infinity by Ajmera Realty and Infra India Ltd, KB Paradise by Kataria Builteck Pvt.Ltd., Aakruti Amity by Aakruti Nirmiti Ltd, Dreamz Siddi by Dreamz Infra India Pvt. Ltd and Unitech’s Uniworld Resorts are some of the recent residential projects in Electronic City.
Electronic City, Bangalore to house Phase II of Godrej E-City
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