Ulsoor witnesses maximum demand for 3 BHKs
In January-March 2013 quarter, Ulsoor has seen a rise in demand for 3 BHKs by 34 percent compared to October- December 2012 quarter. Ulsoor is centrally located, begins near the eastern terminus of MG Road. Ulsoor is one of the oldest neighborhoods in Bangalore.
What is the main reason that is driving the demand for 3 BHKs in this area?
The inflow of NRIs working in global companies and corporate houses are driving the demand for huge apartments.
According to a real estate expert, only young professionals who are getting salary more than Rupees one lakh and above and having small families can afford a house in the locality.
The area is located in the heart of the city and is well developed. Ulsoor is also good for investment purposes. The rental market is also booming here. The rental accommodation comes in the ranges of Rs 75,000 to Rs 1.5 lakh. The capital values have also gone beyond the reach of common man.
The price of a 3 BHK in this area cost between Rs one to seven crore. The major reason behind this is the old commercial hubs and retail constructions.
Developers like Shanta Sriram Construction Pvt ltd and Nitesh Mayfair are developing high end apartments in the area. The price of the apartments starts from Rs 1 crore and above. RMZ group is also planning to come up with a commercial property called Millenia.
Another important factor that is driving demand in the locality are the two proposed metro stations. One is located on Old madras Road, at the end closer to MG Road and the second is at CMH road.
Some of the main streets in Ulsoor are CMH Road, Cambridge Road, Halasuru Road and Old Madras Road. CMH Road has several fashion outlets and supermarkets and is the main shopping area here.
The locality is also famous for its temple and it is very close to prime areas. Ulsoor is 2 km from MG Road and 4 km from Indiranagar. The major attractions of this locality is the Halasuru Lake, famous Someshwara Temple and the largest Sikh Shrine in Bangalore.
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Apartments in Bangalore, Bangalore Real Estate, huge apartments in Bangalore, Metro work, Nitesh Mayfair, Residential real estate, Shanta Sriram Construction, Ulsoor
