For Electronic City (EC) workers, rentals in the HSR-Bommasandra-Attibele stretch are both, cheaper and easy to commute to. More accurately that’s how it has been over the last couple of decades. But have the prices risen beyond your affordability in recent months? Some of the factors remain constant – such as proximity to Koramangala and BTM and access to amenities. The story is no different in other similarly expanding parts, such as Sarjapur and Bagalur. What’s changing is the supply of more and more construction and development.
Renters have been around in these areas for nearly twenty years now. Naturally, many of them have the inclination to now own property in similar areas. By now, they are used to their old localities too well. Thus, interested trend is emerging, and it will be even more interesting as we enter a post-demonetization India.
Bangalore’s position on the real-estate charts
Bangalore has one of the biggest influences on the real-estate market. Its neighborhoods filled with an affluent IT crowd is beginning to reflect memories of a technology-driven California in the 1950s and 60s. While the US, soon after that, went bust over war, a rough political patch and went into economic regression, India’s Bangalore, has the blessing of economic optimism. All this, while the urban scape has already been fast developing for decades. It is quite likely that experts in the coming years will predict rentals and purchase prices at an 11-13% annual increase in southeast Bangalore.
The immediate future will see steady, but the little rise in prices, but the demand for rentals will always tick upward. With more new people in the city working for big employers, India’s Silicon Valley market seems well poised to counter price fluctuations.
Southeast Bangalore opportunities
Southeast Bangalore also sees a proliferation of luxury properties. For example, areas around ORR, connecting Sarjapur Junction and Marathalli flyover, are easy to find your pick from plush, but reasonably priced options.
It is also in the proximity of large military bases, which are a blessing, as the vast expanse of restricted land helps alleviate the pollution for residents. Quality apartments and coming up in many such pockets which were unexplored earlier. Step toward Varthur Lake, and there are even more such examples, where villa projects in sarjapur road with various amenities and games for the outdoorsy residents are common.
Going for the best
Luxury property investments are growing thick and fast. It is an indication of the optimism in terms of the future price difference. Buying a property in the outskirts and renting it out until you move in helps a lot. You can pay your EMIs more easily, and the trend is simply multiplying faster after prices dipped earlier this year.
Investment decisions were becoming slightly difficult for most of the buyers in the market. But development trends by BDA in Bangalore clearly show that road connectivity from those outskirts is improving exponentially. No one is worried about commuting or lack of amenities. It’s all about price appreciation and high-quality purchases that you can afford.