Top Luxury Markets for Villas and Plots in Bangalore
Even as metro cities such as NCR and MMR have been grappling with real estate slowdown, the luxury housing market in Bangalore has demonstrated remarkable resilience. Over the last three years, the city has witnessed the growth and development of the luxury sector with constant demand flowing from IT/ITeS professionals and HNIs.
While apartments continue to be the first choice for many buyers, the market for luxury villas in Bangalore and plots has grown substantially in Bangalore. Unlike an apartment, owning a villa or a plot gives the buyer complete ownership of the land. Moreover layouts and plots give the owner the flexibility to construct customized homes. Owing to their growing popularity, developers are coming up with villas and layouts on the outskirts of the city where prices are comparatively low.
Top 5 luxury markets for villas
As per CommonFloor data, the top luxury markets with maximum availability of villas and row houses in the time period from 2012-2015 are
|
Locality |
Units(Approx) |
|
Sarjapur Road |
2500 |
|
Whitefield |
2500 |
|
Kanakapura Road |
1500 |
|
Sarjapur |
700 |
|
Bannerghatta Road |
500 |
A common feature across all the top 5 luxury markets for villas and row houses is the availability of huge land parcels at a relatively lesser price. This gives developers the chance to offer luxury features and amenities to buyers at a more reasonable price.
Areas such as Sarjapur Road, Whitefield, Kanakpura Road, ORR, OMR and Bannerghatta Road stand out due to good social infrastructure facilities in the form of schools, hospitals, recreation facilities, and retail centres. These areas are likely to get improved connectivity with the upcoming metro and other infrastructure initiatives.
Top 4 luxury markets for plots & layouts
As per CommonFloor data, the top 4 luxury markets in Bangalore with maximum availability of plots and layouts in the time period from 2012-2015 are
|
Locality |
Units(Approx) |
|
Bannerghatta Road |
500 |
|
Yelahanka |
250 |
|
Kanakapura Road |
200 |
|
Devanahalli |
120 |
Bannerghatta Road and Kanakpura Road in South Bangalore have shown tremendous buoyancy in the market for plots and layouts. Availability of land, strong infrastructure development and presence of the middle-income segment are the key reasons for growth in these areas. The improved connectivity due to the elevated highway, the NICE Road and the planned Peripheral Ring Road (PRR) project has also driven demand for plot in Bannerghatta Road.
As for Yelahanka and Devanahalli in North Bangalore, the availability of large parcels of land along with proximity to the airport has driven the demand for luxury layouts and plots in Bangalore. The Hardware Park and the Aerospace Park coming up in the region will also attract a lot of corporate firms.
