Real estate market goes up in Kaggadaspura
Hailing high in East Bangalore, Kaggadasapura, is one of the most talked about localities in the region since it has witnessed an impressive growth in property rates during the second quarter 2013. One of the fastest sub-urban areas in Bangalore, the locality homes to more than 500 apartment complexes.
Access and Connectivity
Strategically situated close to CV Raman Road, Outer Ring Road and Old Airport Road, the locality boasts of its proximity to renowned IT corridors and metro station. This has stood out to be the main cause for the growth of the locality in recent times.
Excellent connectivity and proximity to up-markets such as Whitefield and Indhira Nagar have contributed greatly to growth of the suburb. The locality is about 3 Km from the nearest metro station (Byappanahalli) and 2 and ½ km from K R Puram railway station, its closest railway platform.
Being adjacent to several government institutions such as BEML, DRDO and ADE have added to the number of reasons for the growth of the locality. The locality is near to various government owned residential lands and DRDO township has resulted in steady rental rates and hike in demand for residential units.
Amenities
Kaggadasapura offers a number of important public amenities in the neighborhood. There are many reputed schools in the vicinity, namely Bright Scholars School, Presidency Church School and Narayana E Techno School.
Medical aid in the region is offered by Medi Hope Multi Specialty Hospital, Sree Lakshmi Hospital and Hanifas Clinic. Close proximity to NH4 also serves as one of the reasons for the growth of the locality.
Real estate and Price trends
Despite the recent developments in the region, the locality still falls in the affordable category of luxury apartments for the middle class segment. The price for residential units in the vicinity ranges between Rs 3000-Rs 6000 per sq ft. According to market reports, there has been a sharp 21% hike in the price of residential catchments since Jan-Mar 2013 quarter. The rent per sq ft for residential house in the locality ranges between Rs 12-Rs 15 per sq ft.
Generally 2-3BHK apartments are offered to homebuyers in the vicinity within a price range of Rs 50 lakh-Rs 70 lakh. Some of the ongoing projects in the locality include SV Indu Heights, Chitrakut Basil and Jai Sai Sankalp. Proximity to IT corridors and easy connectivity has resulted in growth of the vicinity and has ranked it among the preferred list of the homebuyers.
