Rental property prices spur in Begur road
Begur road, riding high on the south of Bangalore, is eyed as one of the potential areas of investment, promising higher returns. In addition to property rates, the area has witnessed a huge hike in residential rental values in the last few quarters.
According to property consultants, by the third quarter July 2013, the area has witnessed a rise of over 150% (sum up of the last 5 years) in the rental prices. In the last two years, the increase in rental prices have been measured at 30%, from Rs6- Rs 8 per sq ft to Rs 9- Rs13 per sq ft.
Begur road is about 7kms from the Electronic City and boasts of apartment sizes that fall in the range 690-1500 sq ft that are available to the buyers at Rs 12000- Rs 30000 per month. The area is just 3Kms from Bommanahalli Circle and supports the Nice corridor interlinking Bannerghata road and Hosur main road. This adds to the number of reasons for the sudden emergence of mid-segment apartments in the region and rise in rental values.
What drives the demand?
One of the primary reasons for the rise in rental values in the area is the lack of ready-to-move-in residential units. SNN Group, Preethi Enterprises, SR Residency and Mahaveer Group are some of the key developers in the area who have come up with multiple projects in the area. Launch of some major projects in the area by the key developers have triggered the property values, boosting the rental values significantly.
The economic corridors that are adjacent to Begur Road have played a significant role to fire up the demand for rented housing units in the area. According to experts, companies such as Infosys, Accenture, IBM, Wipro and Siemens will soon open up their branches in the area.
Bonus points
Being close to Sarjapur road and Electronic city (which are the IT hubs of Bangalore), Begur road ranks in the list of property buyers. IT/ITes professionals, who are work in the area are always in search of rental accommodation, which is at a walking distance from their workplace. Buyers who want to settle in new constructions that is equipped with all the modern amenities find their accommodation of choice in Begur road.
The locality is positioned off the Bangalore-Hosur highway and offers excellent connectivity. Apart from the connectivity it offers, the locality outshines other areas in terms of social infrastructure. Redbridge International, Tadmore International School, Candor International and Christ Academy are some of the renowned schools in the region that require a special mention. Fortis and Apollo are some of the well-known hospitals in the area which meet the medical emergencies in the area.
