Top 4 Areas In Bangalore For Residential Property

Closeness to work place, better connectivity owing to broader roads, flyovers and the ORR or Outer Ring Road have ensured that Bannergatta Road, Whitefield and Sarjapur are among the top preferred localities of Bangalore for residential purposes. The preference ranking is according to a recent publication of statistics on residential accommodation. These localities have been the most preferred localities for both the last quarter of 2013 and first quarter of 2014. Banergatta road, in fact, holds the top spot among all these localities for being the most preferred area among people living in Bangalore.

A major part of Bangalore’s residential market consists of 2BHK units in the mid-segment and 3BHK units which cost less than a crore. These apartments are mainly targeted at IT professionals who work in Electronic City, Manyata Tech Park and several other similar software technology parks. The demand and supply of apartments has been quite steady for the past few months which have kept the price in these areas much moderated.

Eastern part of Bangalore also has a fairly stable market in the mid-level segment while some other areas have a significant gap between demand and supply. In eastern Bangalore, the demand for apartments was mostly for those which were priced between Rs 40 and 60 lakhs and Rs 60 and Rs 100 lakhs. The supply for such apartments was much maintained. However, the demand for apartments priced between Rs 20 lakhs and Rs 40 lakhs was much more than what was in supply.

In South Bangalore, the supply and demand of apartments belonging to all categories was more or less constant for the first quarter of 2014. The demand for apartments in the price categories of Rs 20 lakhs to Rs 40 lakhs, Rs 40 lakhs to Rs 60 lakhs and Rs 60 lakhs to Rs 100 lakhs was consolidated at roughly 80 percent while the supply stood at a robust 74 percent across all categories of apartments.

Bangalore is a growing city which sees influx of thousands of youngsters every year who joining the flourishing IT sector of the city. The demand for rental housing accommodations and paying guest accommodations is quite high, especially around areas which have IT companies. Families mostly prefer 2BHK and 3BHK apartments which bachelors prefer staying in 1BHK and PG accommodations. Officials who are paid very handsomely every month prefer to stay in 3BHK apartments which are luxuriously done up.

Builders usually develop apartments in the residential community style which have landscaped gardens, playgrounds for children, departmental stores, gymnasiums and swimming pools. The luxury apartments are done up in tasteful décor and state of the art technology.

For apartments in the Rs 1 crore and more category, the supply of apartments was at 18 percent while the demand was at 15 percent. The market is quite balanced when compared to other areas. The demand for the Rs 20 lakhs apartments was at 7 percent while the supply was at 11 percent.

All the popular localities have their own advantages. For example, Whitefield has a number of properties available, such as 2BHK apartments which cost between Rs 45 and Rs 60 lakhs and even 2BHK and 3BHK units which cost lower than Rs 1 crore and luxurious villas and independent houses which run into some crores.

On the other hand, Sarjapur is mostly focused on the mid level category with some alternatives. Banergatta Road, on the other hand has wide cross section of budgets which are popular because of good connectivity to other parts of the city via broad roads and flyovers.

Another locality which is become a preferred choice of most individuals is the HSR Layout located in the south east part of Bangalore. In terms of real estate, it is one of the fastest growing. All kinds of infrastructure and amenities that are needed to make an area worth living in are present here. Properties of various budgets that offer good returns are present here. For renting and buying, HSR Layout is one of the most preferred locations.

HSR Layout has been consistently making the list of the top 5 properties in Bangalore for renting and buying. The capital value per square feet ranged from Rs 4000 to Rs 5,300 in the locality and the rental value is Rs 17 to Rs 27 per square feet. Affordability, strategic location and upcoming projects which offer viable prospects for return is what has made this area popular for people looking for residences.

Connectivity

HSR Layout is closely connected with adjacent areas such as BTM layout and Kormangala. It is also very close to Electronic City. It also falls along the way to Marathahalli and the Wipro Corporate Office. The Bangalore Airport can be reached within 22 minutes from here. Moreover, the railway station in Bangalore is located at a distance of half an hour from here.

IT Connection

HSR Layout enjoys proximity to Marathahalli, Electronic City, Kormangala and Sarjapur Road and it has a host of mid-range IT professionals living here. Most of the above mentioned areas are located at a distance of 6 to 7 kms only and hence attract a large number of IT professionals. Affordable housing and proximity to the IT companies is what attracts many IT employees.

Infrastructure

The area offers a peaceful living and sufficient social infrastructure. There are many banks, malls, schools, hospitals and other facilities within a 5km radius. Moreover, jogging parks and numerous eateries also make the area worth living in.

Welfare associations are also quite active in the HSR Layout area. This also helps to maintain the area on the top of the preferred residential localities chart. The monthly rent does not come out to be much and there are several paying guest accommodations available in the area that helps out people on a shoestring budget to stay. Moreover, landlords and building supers are very helpful and there are hardly any restrictions imposed on residents unlike cities like Ahmedabad and Chennai, which are quite particular about certain parameters such as non-vegetarian food and alcohol.

An Apartment For You In Bangalore

Bangalore is a booming city in India. Most people have some relative or the other moving to Bangalore to study or work. Bangalore has a number of IT and electronics parks where MNCs have their head offices located. Because of the large inflow of people, there has been a boom in the number of residential complexes.

There are a number of large construction companies that operate in Bangalore and they are developing large tracts of land into residential complexes. These residential complexes are highly secure and they offer all possible luxuries to residents. The complexes are gated and these gates are guarded by security men round the clock. Fire alarms have been placed on every floor and floors have security cameras installed on them as well. These complexes have water supply at all times of the day, which is quite commendable given the fact that Bangalore has water crises. The communities have large stretches of greenery around which makes the air less polluted. These complexes also have community halls, gymnasiums, swimming pools and facilities for playing games indoors and outdoors.

Apartments in Bangalore

The apartments are developed along the 2BHK and 3BHK styles. A lot of construction work is going on in the neighbourhoods of Hosur, HSR Layout, Marathahalli, Whitefield etc. Per square feet rate of these apartments is quite high. For 2BHK apartments, one would have to shell out between Rs 2500-Rs 3000 per square feet while for 3BHK apartments one will have to shell out Rs 3000- Rs 3500 per square feet. Interested buyers can log into the websites of these builders and look at the floor plans on offer. These apartments are constructed keeping in line with the tenets of Vaastu. If you want to paint your walls in a certain way or get additional construction work done on these apartments, you can rope in a designer of your own. These apartments are also approved by various banks and financial institutions which is why you can take out loans from banks to buy an apartment.

Most neighbourhoods in Bangalore have schools, hospitals, banks and other basic amenities and hence residents will not have any problem with the availability of basic amenities. Some residential complexes even have departmental stores in them as well so that residents do not have to go out anywhere to buy their groceries.

Properties is not only for comfortable living but it is also for the purpose of investment. The cost of apartments is increasing at an alarming rate and many people want to cash in on this. They buy an apartment at a very cheap price and then sell it off when they get good returns on their investment.

If you are interested in buying an apartment in Bangalore, then you can look up classifieds to sell flats on various websites. These classifieds websites have special tabs dedicated to apartments and you can add a location, budget and furnishing filter (fully, semi and unfurnished) to find the best apartment for you.

Real Estate in Bangalore - Should You Invest?

Bangalore is a growing city where thousands flock every year in search of jobs. After the initial period of struggle most people look for investment opportunities. Real estate is one of the biggest sectors for investment in India and Bangalore is no different. Builders are trying to seize every free space in and around the city to meet the demand for housing. Areas which were unexplored in the past like Whitefield are now being brought in the net of residential areas because of the booming software and IT sector. Other upcoming areas for real estate Bangalore development are Marathahalli, Sarjapur and Yelahanka New Town.

Amenities Provided in Residential Complexes

Most residential complexes are being developed in community styles which include a departmental store, swimming pools for relaxation and lots of open space. Security and other basic necessities have been taken care of in these apartments. Builders are aiming to provide holistic living for all residents. The apartments are built in an aesthetic way and interior decorators are consulted for furnishing the apartments. Each complex houses apartments in a gamut of styles- 2/3/4 BHK, penthouses, duplex, condominiums etc. Some builders are also constructing villas and bungalows. People prefer to buy apartments in residential communities rather than stand-alone buildings because of the amenities offered.

Cost of an Apartment and Financing Options

Property prices in Bangalore are increasing by leaps and bounds. Most places have per square feet price above Rs 3,500. Even though property prices are shooting through roofs, various schemes for housing finance and loans are also available to ease the burden off the buyer’s shoulders. LIC, Axis Bank and HDFC offer loans to house hunters. Some other public sector banks like SBI and IDBI are also interested in lending money to buyers. Therefore, people interested to invest in property will not have any trouble in finding a financer.

By investing in an apartment, owners are also creating a channel for earning a handsome amount. Rental rates for apartments are rising at an alarming rate. For places like Indiranagar and Whitefield, 2BHK apartments are fetching above Rs. 15,000 in rent every month. Therefore, once your apartment has been furnished, you can rent it out on contracts valid for 11-months and earn a fat wad of money. This money can then be used to pay the EMIon the housing loan taken out to buy the apartment. If the amount of rent has been settled smartly, then it would generate some amount as profit even after the EMI has been paid.

Online Classifieds to Help Investment in Real Estate

As a reader if you are convinced, then you would be glad to know that online real estate classifieds in Bangalore lists properties up for rent or sale from different parts of the city. Buyers can filter the search results according to their budget, area-wise preference and style of apartment that they want to buy. There are many websites where real estate Bangalore buyers can meet sellers conveniently, without paying any brokerage or commission. Both parties would be saving a lot of money and at the same time get the best out deal.