Bangalore residential markets that suit your pocket!

Bangalore has witnessed a constant appreciation in property values across areas irrespective of the general gloom that had pervaded most realty markets. This is largely to do with the fact that the demand for residential property has increased many-fold in recent years. The tremendous scope for job opportunities, vast number of educational institutions, pleasant climate, infrastructure developments and the cosmopolitan lifestyle are some of the many factors that have given it a competitive edge compared to other major realty markets across the country.

Ultra-Luxury Markets

Based on CommonFloor data, there are many areas across Bangalore with a weighted average price (WAP) above Rs 6000 per sq. ft. Some of them are Banashankari (about Rs 6,800 per sq. ft.), Kanakapura Road (about Rs 6,200 per sq. ft.), CV Raman Nagar (Rs 6,100 per sq. ft.) and Hebbal (Rs 6,000 per sq. ft.). It denotes that these are some of the most expensive areas in the city with considerable appreciation in prices. Many residential projects are being undertaken in these areas due to the considerably higher demand and the prospects that these areas present.

Luxury Hotspots

Some of the areas in Bangalore with WAP between Rs 5000-6000 per sq. ft. are Sahakara Nagar (Rs 5,800 per sq. ft.), Varthur (Rs 6,400 per sq. ft.), Brookefield (Rs 6,300 per sq. ft.), Uttarahalli and Sarjapur Road (Rs 6,200 per sq. ft.), Kudlu Gate and Jalahalli Cross (Rs 6,100 per sq. ft.), and Hosur Road (Rs 5000 per sq. ft.). These areas are fast developing and are expected to see considerable realty growth in course of time due to the infrastructure developments taking place. There are many residential projects, particularly apartments that are coming up in these areas, largely because of the presence of many IT/ITES companies in the vicinity.

Mid-segment destinations

Areas in Bangalore with WAP between Rs 4000-5000 per sq. ft. are Jakkur (Rs 4,900 per sq. ft.), Horamavu (Rs 4,800 per sq. ft.), Magadi Road (Rs 4,700 per sq. ft.), Grand Total (Rs 4,600 per sq. ft.), Hennur Road (Rs 4,500 per sq. ft.), Old Madras Road (Rs 4,400 per sq. ft.), Marathahalli ORR and Bannerghatta Road (Rs 4,300 per sq. ft.), Hosa Road and Electronic City (Rs 4,200 per sq. ft.), Whitefield and Mysore Road (Rs 4,100 per sq. ft.) and Kalyan Nagar (Rs 4,000 per sq. ft.). These areas are relatively less costly due to the vast expanses of developable land available. Hence, investments in property in these areas are expected to bring lucrative returns for both investors as well as developers.

Affordable Markets

Areas in Bangalore with WAP between Rs Rs 3000-4000 are Hesaraghatta (Rs 3,900 per sq. ft.), Gunjur (Rs 3,600 per sq. ft.), Thanisandra Main Road (Rs 3,500 per sq. ft.), Sarjapur (Rs 3,400 per sq. ft.), Rajarajeshwari Nagar (Rs 3,300 per sq. ft.), Bellary Road (Rs 3,200 per sq. ft.), Electronic City-Outer (Rs 3,000 per sq. ft.), Sarjapur – Outer (Rs 2.900 per sq. ft.) and Jigani (Rs 1,800 per sq. ft.). These are areas which come under Bangalore (Rural) which are yet to witness considerable development in terms of infrastructure. However, huge investments in developable land are taking place in these areas primarily due to the low cost of investment as well as the future prospects that these areas present.