High-end residential units hit a new high in Bangalore South
Over the years, the outlook of people has undergone a complete makeover. The paradigm has changed from “necessary assets” to “branded products” as the definition of one’s status, and high-end residential units emerge as the perfect status symbol. The new-age luxury home buyers do not shy away from spending a lump-sum on the aesthetics of bedrooms, kitchens and bathrooms and give the interiors a special preference. South Bangalore is the true calling for such investors, Bangalore South has been the roof over head for some of the primeval localities like- V V Puram, Basavanagudi, Chamarajpet and Jayanagar. In the last two years, a number of cosmopolitan centers have sprung up in South Bangalore, namely HSR layout, Koramangala, Sarjapur Road etc which boast of plush commercial and office layouts, high-rise apartments and a wide range of malls. Proximity to IT centers, state-of-the art infrastructure and easy connectivity to CBD have pushed the demand for high-end homes in South Bangalore.
Why south gained importance?
Since the city is known as the ‘IT hub of the nation’ a number of IT/ITes professionals along with expats migrate to Bangalore. With the rise in office real estate prices in central Bangalore, a number of companies shifted their base to the suburbs. Hence, the government offered lands to IT giants at peripheral locations in east and south Bangalore. The problem rose in peripheral locations in the absence of social and physical infrastructure, because of which people opted for suburban residential locations. As a result, south Bangalore emerged as one of the eye-catching residential markets and witness the growth of a number of organized residential units in the region. However, these peripheral locations lacked physical and social infrastructure at the time of establishment due to which people preferred suburban residential locations. Consequently, south Bangalore (mainly Hosur Road and Electronics City) became established as one of the prominent residential markets and saw many organised residential developments in this location.
Location is important
Jayanagar and Koramangala have emerged as the complete package for high-end residential destinations in Bangalore that includes proximity to CBD, good social infrastructure and central location. With the advent of IT and major companies, Koramangala has transformed itself into a premium residential address, adjacent to Sarjapur road. The rural areas of south Bangalore, such as Jigani and Bommanahalli also falls in the radar of the developers of high-end residential units. IT and the manufacturing segment in these regions is what drives the demand. In addition to it, south Bangalore is also in focus since because of the demand triggered by the NRI’s who wish to own high-end residence in south Bangalore. Such homes in south Bangalore fall under the price bracket Rs 600 Rs 15000 per sq ft.
