Bangalore or the now Bengaluru, is one of the fastest developing metros of India. With the IT boom that hit the city, came in a confluence of cultures as a number of people relocated from various parts of the country only to make this beautiful city their home. Being a homely city catering to both young and the old, the real estate segment in Bangalore has always been an attractive proposition, encouraging more and more buyers to invest in the city.
With companies setting up their offices in several pockets of the city, development as far as real estate is considered got scattered all over the city. There are various properties for sale available in various areas of Bangalore, consisting of both older redeveloped properties and newly constructed apartments with the best of amenities and infrastructure. You could be looking at property investment or ready to move in residential property in Bangalore, be rest assured the options to choose from are aplenty and hence it requires careful analysis and thinking to make sure you make the right investment decision.
Here are some important factors you should take into account before making a purchase decision of properties in Bangalore:
What kind of Property are you looking at?
When it comes to home buyers there are various factors that influence investors, to put their money into a specific property. People buy property for various reasons such as investment purpose or for upgrading lifestyle and the location or property you decide to invest in should suit your requirements of buying a house. There are many properties for sale that are available for cheap around the outskirts of Bangalore city, however these may suit those who are looking at investing for a long term perspective. For those looking at residential properties, North or South Bangalore have a number of residential properties that provide for luxurious and stylish living in the heart of the city.
The builder developing the project
There are several builders who have their on going developing projects in the city of Bangalore. Before deciding upon the builder you’d like to invest in it is important to do a background check of the builder and take a look at the various projects that have been completed by the builder to get an idea of the kind of work the builders are doing. Reputed builders like Indya Estates are known for their futuristic projects in various parts of Bangalore. Thoughtful designs and well planned projects by these builders are backed by functionality and practicality, becoming the obvious choice for investors and those intending to move in.
The budget you have in mind or can stretch up to is yet another important factor that lets you decide upon the property you want to buy. Getting the maximum value for the money invested should be one objective when investing in the property, and getting maximized future returns should be yet another consideration when investing in the property of your dreams.
Having seen the above major criteria of home buying, there is yet another factor that plays a vital role when it comes to buying a property in Bangalore. This is the location of the property you want to invest in. Bangalore is a vast spread city and location of the property you buy goes a long way in deciding both the appreciation value your money is likely to fetch you as well as the convenience of living if you are looking at buy a property in Bangalore. Here is a complete location analysis of the various sectors of Bangalore which are hot buys among real estate investors in the recent times:
- Nayandahalli: One of the latest entrants as one of the best places to invest in Bangalore, Nayandahalli is slowly becoming a preferred choice among real estate investors as per the latest real estate trends observed in Bangalore. With the metro connectivity coming up in this area, property rates have suddenly gone up, along with an increased demand for homes in Nayandahalli. With a number of offices and commercial spaces finding Nayandahalli as one of the best places to set up in, more and more people are shifting towards this side of the city. The average price per sq. ft. has seen a 36% appreciation seen in the last 2 and a half years emphasising on the increasing popularity of this part of Bangalore . The biggest boost that this area got was from the metro route connecting upto MG Road, making travel very easy and convenient for people living here.
- Yelankha:Located in the northern part of the city of Bangalore, Yelankha is slowly a hot spot among builders to create a township that is a part of the city, yet enjoys the greenery and serenity that is hard to find with in the city. The proximity to the new Bangalore airport is one reason why the property around Yelankha has seen a sudden appreciation in the prices. There are over 150 projects that are being developed in this area of which most of them are already ready to move in. The coming years are only likely to see more and more development around this area which makes Yelankha one of the best spaces in Bangalore to invest in right now. The price per sq. ft. in Yelankha has seen a 21% appreciation in the last three years which speaks of the potential this area has.
- Hebbal:Hebbal is one area in Bangalore that has seen a sudden boom with a number of companies establishing their commercial spaces in this area. Major companies like IBM, Micro Software Service, Philips and so on have their offices located in Hebbal. Apart from the development of commercial spaces, there are also several residential properties that are being developed around the area that attract residential property buyers. Premium residential properties like The Mist, developed by Indya Estates in the Sahakarnagar area near Hebbal are excellent investment properties for both residential staying as well as for a future investment purpose.
- Sarjapur Road:Yet another key area that is having a huge demand as far as real estate is concerned, Sarjapur Road is a great option to invest in when you want premium projects at affordable rates. With a low pricing per sq. ft. it is the right time to invest in the area so as to maximise returns due to the benefits of appreciation that is likely to happen in the future. While there is yet a whole load of infrastructural development planned for this area with connecting roads that would enhance the North Bangalore to South Bangalore connectivity, Sarjapur road is only promising to be one of the best spaces to invest in. A number of commercial spaces are also being set up in this area making office goers to invest in the developing projects around the area. Near Sarjapur there are several developing areas like Attibele, where premium residential properties are being developed. One such example is the The Greens project developed by Indya Estates which consists of vast acres of land spread across huge acres of land and covered by lush greenery. A township in itself, the project promises luxuries living in the city with a view closer to the nature.
- HSR Layout:One of the premium real estate markets of Bangalore, HSR Layout has been one of the most preferred locations to invest in the recent past. With the proposed metro line connectivity, HSR Layout becomes the central hub connecting various parts of Bangalore with its central location. Being an access point to the Electronic city, HSR layout has become a favorite buy among residential property buyers who want to live in the heart of the city yet maintain proximity to their offices. There are over 80 newly developed and ready to move in projects in HSR layout, which definitely make it worth a consideration when looking at investing in real estate market in Bangalore. With its proximity to Koramangala, BTM layout and so on, HSR layout promises a lifestyle living for the people investing residential properties around the area.
- Electronic city:A major commercial hot spot, Electronic city is being developed as a smart sector of Bangalore that is backed by IT companies having their plush offices in this part of the city. The area was earlier dedicated to electrical manufacturing but has soon become a residential hub and a favorite location among property buyers to get maximum value for their investments. The electronic city flyover that connects this part o the city with the rest of the city, has been a major boost for this area attracting more and more property buyers to invest in this area. There are both affordable and premium homes available in this area that are being developed by premium real estate developers. Luxurious 2 BHK apartments are available in Electronic city at a buy of about 30 to 40 lacs, which considering the future appreciation in this area is a rather cheap investment today.
Location is one of the major factors that decide your investment worth as well as your lifestyle and is hence a primary consideration when buying a property. Use the above guide to decide upon the area you’d like to invest into in Bangalore city to get maximum returns and an upgraded lifestyle while living in the beautiful city of Bangalore.