Introduction to The Real Estate Market Of Bangalore
Bangalore as we all know has been a centre of IT development in the country for the past decades and so it is no surprise that the real estate sector in Bangalore has increased significantly in the last couple of years. This increased the demand for real estate due to Bangalore maintaining a desirable climate, with a diverse audience and great technological expertise. The real estate sector of the city is on the rise and growing in strength making it one of the best areas to reside in as well as tourists to visit.
In a bustling metropolis like Bangalore, considering the thought of putting your money in real estate can be quite risky yet was one of the best decisions that you can make, to safeguard your future. Take a look at this checklist or in other words this comprehensive step-by-step method on how to purchase land. It will make it easier for you to locate the best place to construct housing units in Bangalore. Also, as you search for top buying neighborhoods of Bangalore, make sure to have this useful checklist in hand or close by. This way you are sure that nothing skips your memory.
Factors Influencing Purchase of Plot
There are several factors forming and deciding ideas that might impact future plot buying and investment patterns of residential dwellings and therefore it’s significant to have an understanding of those while buying residential plots in Bangalore.
Infrastructure and Connectivity
Public transportation is unavoidable for determination of the market prices of residential plots. This means new metro lines, flyovers and road extensions, are additions to accessibility and economic worth. What this means is that properties next to these new infrastructure may be deem to be very high.
Amenities and Facilities
Please check the proximity of general amenities like mortgage banks, grocery stores, pharmacies, hospitals, schools among others. The further away one is from quality healthcare and education facilities, the lower the standard of living and the lower the price of the property.
Future Growth Potential
Going by the fact that most of Bangalore’s inner core suburbs are already well-developed, they should still remain attractive given that they have space to expand in the future. If you are investing in a business that has a great chance of making profit then expect a decent return.
Top Areas to Buy Plots in Bangalore
1. Hebbal
The nebula of Hebbal in Northern Bangalore is fast emerging as an area of choice. It is one of the best localities for acquiring plots in Bangalore. There is a great deal of potential in Hebbal in terms of both residing and investing in real estate. It is well served by public transport and prospective developments are in place.
Key Features:
- Close range to the important Kempegowda International Airport.
- Connectivity to the Central Business District and other regions through Outer Ring Road (ORR).
- Dwellings of all sorts and categories are very much in stock.
- Future Facilities: aerospace parks and the Aeropopolis mark the beginning of many more.
- Average house price: 9,897 Indian Rupees.
2. Sarjapur Road
The investors in the property venture take the plunge into the southeast suburb of Bangalore known as Sarjapur Road. It happens to be a perfect spot for those willing to buy residential plots in Bangalore. It has been becoming preferred due to its location and increasing importance of the IT sector.
Key Features:
- The approval of the Peripheral Ring Road (PRR) by the Union Government.
- The implementation of this project will help reduce traffic and integrate the northern and southern parts of the City.
- Different types of housing makes it suitable for every age, culture and class of people.
- Acts as a centre for several financial services.
- Average house price: 6,575 Indian Rupees.
3. HSR Layout
Location-wise, HSR Layout is also among the best areas for purchasing plots in Bangalore. The community has the potential to house many types of people from different family backgrounds, thus making it an ideal place to reside. HSR Layout has within a short time managed to position itself as a key player in the real estate practice within the city.
Key Features:
- Located within a Bommanahalli Town, in the South East part of Bangalore.
- The strategic location at the city center.
- The Unavailability of affordable housing options.
- Jayanagar and Indiranagar metro station improves the access to reach HSR Layout.
- Average Home Costs:12,515INR/
4. Tumkur
It particularly provides a better and wider access to the Western region of Bengaluru, which has been previously unexplored. As a strong growing industrial area, it is also one of the most sought districts for purchasing plots in Bangalore.
Key Features:
- Decreased distance to isolation of commutation from the airport and other key locations via PRR.
- The PRR while not is completes is expected to improve drastically on the commute time from the city’s center.
- A long term investor can look for tumkur road better for initial investments.
- It has cheaper land rates along with expected growth in development.
- Average Home Costs: 3,100INR/
5. Whitefield
This is said to be the best locality for investing in residential plots in Bangalore. Fittingly so, Whitefield is the best area for residential properties. There are ample opportunities for both growing enterprise and quiet living. This cosmopolitan area is thriving.
Key Features:
- With the implementation of the Purple line of Namma Metro Phase 2, the connectivity of Whitefield is expected that its dynamics will evolve.
- The south western railways has commenced morning trains between Majestic and Whitefield, which has also been beneficial towards reducing congestion.
- As its use becomes more prevalent and its focus towards making life easier increases, this is an excellent investment opportunity.
- Average home cost per square foot: Rs. 7231 per square foot.
6. Malleshwaram
Located in the city’s quaint north western corner, it is one of the oldest and well-designed places in Bangalore. With time, Malleshwaram developed to be among the top places ideal for purchasing plots in Bangalore.
Key Features:
- A good number of centers of higher learning- Mes Kishore Kendra, MLA College and Cluny Convent.
- Medical Centers and Hospitals – Medinova Centre, Columbia Asia Referral Hospital and Manipal Hospital.
- Proximity to Kempegowda International Airport.
- The flower market located on the 11th cross of Sampige road is one of popular places well known amongst residents.
- Renowned restaurants that are on Margosa Road are a big attraction for visitors and residents.
- For the enhanced shopping experience there are amongst others the Mantri Square Mall, Reliance Fresh and Malleshwaram Market as well as the World Trade Center.
- Average home cost per square foot: Rs. 7231 per square foot.
Conclusion
Purchasing property in the most desirable plots in Bangalore is a wise investment strategy. Our Dream Location Checklist can be viewed as a guide to the best residential plots for sale in Bangalore. It was successful and fruitful when we undertook a detailed search of the best localities for plots in Bangalore.
Every one of these areas has a different history, today, and character. Thus, with all this data, you can rest from worrying and move towards your goals. Don’t waste time and start relocating to Bangalore today!
Frequently Asked Questions
What Locality is Ideal for Plot Purchase in Bangalore?
Buying a plot in different areas of Bangalore varies according to the individual’s necessity, location with respect to employment, educational centers, amenity centers, ready transportation amenities and businees plans for the future. Whitefield, Sarjapur Road, Electronic City, Devanahalli, Yelahanka, Kanakapura Road and several others have been quite preferred for making plot investments in Bangalore. It is always good practice to do all the required research about the area, see the area for yourself and consider the things which would suit your needs before any buying plans.
For how much can a plot in Bangalore be bought approximately?
The average amount that a person would spend on buying a plot in Bangalore would depend on many factors like area of the plot, the availability of amenities and how developed the area is. According to the recent survey, the average price is estimated to be at ₹90.8 Lac whereas median price is about ₹52 Lac.
Is it true to claim that purchasing property in the form of land is beneficial in Bangalore?
It would be possibly right to assume that purchasing land in Bangalore could be beneficial to people looking out for long term value investment in places that are in the developing stage. The purchase of land holds good for an individual’s interest in developing a property as per his/her preferences. However, it is important to do comprehensive research such as check the legal documents, look for the zoning regulations, the infrastructure in the area where the land is situated as well as the market movements before making any investments.
Buying Land or Building a House? Which Option is the Best?
The set of objectives one has determines whether it makes sense to assemble a house or buy land. For example, purchasing a piece of land grants the owner the option to design a home that suits his or her needs while purchasing an already built home eliminates the need to design and build one. If one intends to purchase one of those options in the future however, they should think about their budget, the place nearer their workplaces, and other plans.
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