Bangalore boasts of affordable ready-to-move-in properties
The real estate market of Bangalore is all beck and call to set new standards, as it offers a plethora of ready-to-move-in properties under affordable segment category. According to property consultants, it is the ideal time to venture into the realty market of Bangalore, since a number of projects in the city are on the verge of completion and the finished homes are supplied within the range Rs 45-Rs 50 lakh.
As per market news, demand for affordable houses in the city has been on a rise. In addition to it, properties on the verge of completion in Bangalore have witnessed the maximum demand. Certain localities such as Bellandur, R T Nagar and Hebbal in the city that offer ready-to-move-in residential properties, within the price bracket Rs 40- Rs 60 lakh, been on the buyer’s radar for sometime now.
R T Nagar-the hot spot
R T Nagar, the potential spin-off of North Bangalore, has topped the list among the preferred destinations for affordable projects. According to property consultants, properties in demand within the locality fall within the price bracket Rs 40-60 lakh. Multi-storey apartments are the most commonly supplied residential units in R T Nagar.
The pride of North-Hebbal
The demand for affordable residential units in this part of the city is mainly driven by the burgeoning IT population. A number of residential projects (mainly multi-storey apartments) in Hebbal are in line that are on the verge of completion. Going by the market data, more than 70% of the residential properties in the locality are multi-storey units. An average 2BHK, measuring 1000-1200 sq ft would cost around Rs 40-50 lakh in the vicinity.
Bellandur-The popular residential pocket
Located towards the south, Bellandur is a blend of ready-to-move-in properties at an affordable price. Due to its close proximity to numerous IT parks, the area has been on the radar of IT professionals, looking for affordable residential units. Huge demand for affordable units and with numerous projects on the verge of completion in the locality have led to an 8% rise in the capital values of Bellandur. Furthermore, according to property developers, 8 out of 10 units sold in the locality are multi-storey apartments that are priced between Rs 40- Rs 60 lakh.
