Looking for a good place to rent in Bangalore?
Settling for an apartment on rent in the Silicon Valley, Bangalore, is quite a daunting task, mainly because the city is laced with 20-25 self-sufficient locations, where families and individuals can scout for BHKs of their choice. Right from Koramangala to Bannerghatta and MG Road, Bangalore has lots of options in its bag to deliver the perfect apartment for rent, be it for the investors or end-users. As per the developers of the city, the rental market of Bangalore has something to offer for every kind of budget, beginning minimum to maximum.
In the first half of 2014, Marathahalli, HSR Layout and Koramangala, in a row, continued to hold their position as the top three preferred localities in Bangalore. Riding on the back of excellent connectivity and strategic location, Koramangala and HSR Layout has managed to affix their name in the list of preferred localities for rent in the city.
Preferred areas for end-users
Rate-wise, Bellandur and Koramangala rule the rental market, commanding the highest rental values in the city. For a mid-segment apartment in Bellandur, the rental range can run in-between Rs 17000-Rs 21000 per months, while in Koramangala the range would vary from Rs 21000- Rs 27000 per month. For those looking for areas with affordable rental values, Whitefield, Bannerghatta Road, Sarjapur Road and Electronic City serve as a perfect fit.
Although rental values in Bannerghatta Road fall in the range Rs 13000- Rs 17000, Whitefield rentals have remained reasonably priced, running between Rs 15000- Rs 18000, in the lower to mid-level category. Topping the chart, Electronic City has remained as one of the most affordable areas for rental for 2BHKs (1100 sq ft) at around Rs 12500, and 2-3BHKs (1200 sq ft) at around Rs 16500.
Investors point of view
From an investor’s point of view, locations such as Sarjapur Road and Marathahalli have registered good returns in the last two quarters. As per the proponents of the real estate market of Bangalore, the rental market has reported a steady rise in the city, with no volatility in the north or sluggishness on the southern counterparts of the Silicon Valley. A case in point in this regard will be, a 2BHK apartment valuing Rs 40 lakh in Marathahalli, will rope in a monthly income of Rs 17500 as rent, resulting an annual income of more than Rs 2 lakh.
Tagged as one of the largest localities of Bangalore, Koramangala showcases a healthy mix of luxury and mid-range apartments, along with commercial structures and posh bungalows amidst tree-lined boulevards. A growing commercial hub, the locality fetches good rental returns, starting from Rs. 12,000 for a 1 BHK apartment of 1000 sq. ft. This, is no less than a perfect setting for the investors to guarantee handsome returns.
