Ulsoor witnesses rise in property prices
Ulsoor, also known as Halasuru, is one of the oldest localities in Bangalore. Ulsoor has seen an increase in property prices in the October-December quarter 2012.
The area has witnessed an increase of 4 percent in the average locality price during the October-December quarter. The proposed metro connectivity has been the major boost behind the rise.
The highest locality price is around Rs 8,160 per sq-ft. The commercial section experienced 8 percent boost in the average locality price. If a comparison is made on the property price trends of old localities such as Bellandur and Uttarahalli, Ulsoor stands out.
Nitesh Estate is launching a high end apartment “Nitesh Mayfair” with world class amenities like a manicured gardens, fitness centre, a 5-star lobby, etc. The prices of these kind of apartments are around Rs 8000-9000 per sq ft.
Shanta Sriram Constructions Pvt. Ltd’s project Thipu Residency is expected to get completed in few months. The apartments are priced between Rs 79. 50 lakh to Rs 1.82 crore. Milllenia by RMZ Group at Ulsoor Road has also helped with the influx of people to this area. The central location of the area is the prime reason for the wellness of the real estate market, said a real estate expert.
Two proposed Bangalore metro stations are located in the vicinity. Easy availability of all social facilities like malls, hospitals, schools and colleges is also a prime factor for the area’s development.
Ulsoor is located at the heart of Bangalore city. The investment in this area is liable to be fruitful and turn out as smart money. Ulsoor is a preferred locality for residence option and rent purposes. Many real estate developers are coming up with both residential and commercial establishments in this area.
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