Thanisandra: On the footsteps of realty development
The northern zone of Bangalore has been glittering with growth and development as Thanisandra witnesses steadfast property values. Close to Outer Ring Road, the locality can be easily accessed from the Nagavara Circle. With hospitals, educational institutes and commercial complexes at a walking distance, the locality climbs up the list of most preferred localities without much effort.
One of the obvious questions to arise among new league of property buyers is- Why Thanisandra? The answer is simple- it is a growing market and is close to prime locations such OPP, HBR Layout, Kirloskar Business park, Nagwara Junction, Manyata Tech Park and Airport.
Furthermore, presence of a number of multinational companies in the area such as Cognizant, IBM, Alca Tel et al increases the chances of employment generation. This props up the market for better capital appreciation and feasible rental returns. North Bangalore, which boasts of the Manyata Embassy Business Park that has a stock of 7.5 million sq ft, is expected to generate 4.5 million employment in the coming decades and Thanisandra will play a crucial role in it.
Projects to consider
Abundant availability of land has led to the growth of Thanisandra and its adjoining areas. According to market sources, there are few projects in the vicinity which worth a special mention. Sobha Chrysanthemum by Sobha Developers and Monarch Serenity by The Monarch Group are few among them.
The Nagwara Junction is at a walking distance from the area and includes important projects like Karle Town. Property consultants suggest that the area is likely to evolve into a posh residential locality and it is ideal in terms of long term perspective. However, the commercial real estate market of the area is witnessing a slow pace, hence the commercial and office projects in the vicinity take a little more than longer to develop.
In tune with property investment, capital appreciation and rental yield both have equal significance. Quality developments in the region fetch the best rental returns, for instance- Zen Gardens, that fetches around Rs 65000 per month, in the name of rentals.
Why to consider?
The transaction value for properties in the area will range between Rs 85 lakh- Rs 1.5 crore, depending on the negotiation process and choice of flat. By 2015-16, the area is expected to be flooded with ready-to-occupy inventory with a low price appreciation. This ranks the projects in the vicinity in the good books of the homebuyers. Keeping in mind the track record of the key developers entering the area, buying a property in the vicinity is a sure bang for the back.
For those, who do not prefer to carry the construction risk, buying a unit out-and-out in finished medium and smaller projects in the locality is the best option. Such a move is likely to offer a decent rental income. As an alternative option, a buyer can also search for other premium projects which are slated to finish prior 2015. Property experts strictly advise to stick to builders who offer good brand value, sustained historic rental income and an excellent resale demand.
