Bangalore Q3 2015: Rental Property Tracker
Out of the top rental markets based on availability and rental yield, half were skewed towards the southern part and the other half towards the eastern part of the city. For the first time in 2015, a micro-market in the north also made it to the list.
For the third consecutive time in the year 2015, Whitefield once again clocked first position based on availability. IT/ITeS influence coupled with relatively affordable rentals are the major factors catalyzing rental demand here.- JP Nagar also retained second spot based on availability. Already established residential destination, old-world charm works well for this area. Further, well-designated roads and robust social infrastructure has also made it a preferred destination for several start-ups.
- Interestingly, third spot was secured by Bannerghatta Road. A self-sustained market, the stretch witnesses demand mainly because of well-developed social infrastructure and presence of IT companies.
- Next is line are Marathahalli and Sarjapur Road. Presence of IT/ITeS and office spaces have been the major growth drivers in both the areas. Moreover, Marathahali’s proximity to the Outer Ring Road and areas such as KR Puram, Whitefield and HSR Layout also adds to its appeal.
- Interestingly, top markets for rental yield are also largely skewed towards southern and eastern part of the city, with an exception of Kalyan Nagar in the North.
- While Hosur Road retained first spot in terms of rental yield, Kundanahalli, HSR Layout, KR Puram and Sarjapur Road were replaced by Electronic City Phase I & II, Kalyan Nagar and Panathur in Q3, 2015.
- IT/ITeS sector is the major growth driver in all five localities for rental yield, namely, Hosur Road, Electronic City Phase I, Kalyan Nagar, Panathur and Electronic City Phase II. While Hosur Road, Electronic City I & II boasts of IT establishments; Kalyan Nagar and Panathur are flourishing because of proximity to the IT hubs. Moreover, Panathur also receives spillover demand from the ORR.
The purpose
1) Help the consumer to understand availability of rental properties in Bangalore.
2) Assist the consumer to understand the top markets for rental returns in the respective city. The data is taken from listings done by builders/ brokers/ individuals to rent out their properties through CommonFloor.com from Jul to Sept, 2015.
Disclaimer: The information provided in this Website is based on CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps including CommonFloor’s proprietary data resources, and from the inputs of unidentified individuals. It ought to be considered as a guideline and not as absolutely certain. While care has been taken for groundwork, no responsibility is accepted for the accuracy of whole or any part. This information is absolute property of CommonFloor /maxHeap Technologies Private Limited. It should not be reproduced in any form, in part or whole, without prior written permission of CommonFloor. The information is provided on an “as is” and “as available” basis. CommonFloor expressly disclaim warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
