Housing sales in India have surged by 12 per cent in the last quarter, as per a recent report. Sales rose to 49,000 units in the Jan-March 2018 period, according to the report by ANAROCK. The rise in residential sales seen in seven major cities, including Bengaluru, Chennai, Hyderabad, Delhi-NCR, Mumbai, Pune and Kolkata in Q1 2018 is undoubtedly fuelling optimism into the real-estate market.
Amongst all these locations, there is one city that stands out – the Silicon Valley of India. Emerging as the best cosmopolitan city to live in, Bengaluru offers a wealth of opportunities. Having transitioned from a small town into a predominantly urban space, Bengaluru is apt for those looking for a better lifestyle or excellent investment opportunities. Furthermore, the moderate climate and diverse social environment add to the excitement of living in the city. The Silicon Valley of India has emerged as the front-runner in south India’s property market with housing demand and supply in the city being higher than Hyderabad and Chennai, as per the report.
Being one of the most coveted investment destinations, Bengaluru extends some of the best deals in real estate. If you are looking for capital appreciation or potential rental income, purchasing land on the outskirts of the city or an apartment near an IT hub would be a good bet. Some of the prospective land pockets with high appreciation potential include Bellandur, Hoskote, Malur, Sarjapur Road, Electronic City and areas around Kanakapura Road, Manyata Tech Park, ITPL and Whitefield.
Areas such as Channasandra, Immadihalli and Borewell Road near ITPL/Whitefield are not only sought after because of the availability of quality housing in all budget categories, but also for its proximity to accomplished schools, hospitals and affordable shopping and entertainment destinations.
You can invest in beautiful two- and three-bedroom properties around Manyata Tech Park and Electronic City, starting from as low as Rs 40 lakh. Both these locations are home to some of the biggest names in the IT industry. Manyata Tech Park is connected to other parts of Bengaluru via the Outer Ring Road (ORR) and Hebbal, and is located just 17 kilometres away from Kempegowda International Airport. Electronic City is well-connected via the 4-lane elevated expressway from Silk Board. Supported by an excellent social infrastructure, these areas are not only convenient for IT professionals but also have great prospects in terms of investment.
When looking for a peaceful retreat, tucked away from the hustle of the city, Kanakapura Road is a good choice. With several international schools, colleges, hospitals, shopping malls, banks, ATMs, and Metro access, this upcoming residential area connects Banashankari to Kanakapura. It is also located close to spiritual centres such as The Art of Living ashram and the Pyramid Valley, among others.
Home to many defence establishments, the Yelahanka area, and Hebbal, Devanahalli and Thanisandra are a good bet in the northern belt. Sizeable undeveloped land banks in and around these areas is attracting investors from across the world. Being closer to the airport and backed by the government’s initiative to develop these areas, it is perfect for long-term investment prospects. Moreover, the proposed monorail, if approved, will reduce the travelling time to the city.
In the south-east and eastern parts of the city, Bellandur, Sarjapur, Varthur and Budigere are the fastest growing residential suburbs. Infused with a host of facilities, these localities continue to flourish into fantastic, self-sustained residential spaces. In addition to this, government-initiated infrastructure development projects, including Phase 2 of the Purple line of Metro, will increase the neighbourhood’s capability to yield potentially higher returns.
Another part of Bengaluru that you should explore is Malur and Hoskote. They have been emerging as the favourite destination for investors due to aggressive investment plans by the government of Karnataka. The Karnataka Industrial Area Development Board (KIADB) has acquired huge parcels of land for industrial growth. This area is also touted as the next auto hub of Karnataka, which is said to influence its capital appreciation.
Whichever location you choose to invest in Bengaluru, you can be at ease knowing that you will be a part of a broader community living a life of privilege, independence and convenience.