As Bangalore is one of the major Information Technology (IT) hubs of the country, the metropolis lures more number of migrants from other cities for various career opportunities. As a result, the demand for residential properties in Bangalore has increased remarkably in recent years. Owing to this housing demand, the prices of houses within the city limits have raised up to a great extent. Also, the availability of land for residential development in prime areas of Bangalore is very less. Thus, the outskirts of the city have been grasping the attention of home buyers and property investors. With the improving infrastructure in the outskirts of the city, several micro markets are seeing a significant growth in real estate market.
Some of the major factors that a home buyer will consider before investing in a property are the affordability and future capital appreciation. Following are some of the key micro markets of Bangalore for property investment;
Located in North Bangalore, this locality enjoys seamless connectivity to the international airport. Besides, the region also has the advantage of proximity to major localities such as Banaswadi, Hebbal, Kalyan Nagar and HBR Layout. Apart from this connectivity factor, prices of residential properties in Hennur Road are affordable on comparing to other micro markets of the city. According to realty sources, the locality has witnessing a 4% appreciation in capital values in the last couple of years.
When it comes to housing options, the locality offers more number of choices for the home buyers across different budget categories. Although the region has several under-construction projects, the home buyers mostly prefers ready to move in projects or residential developments that are nearing completing. Especially, properties within INR 60 lakhs are the most preferred budget range here. The current prices of apartments in Hennur Road range between INR 4700 per sqft and INR 5500 per sqft.
Apart from buyer’s market, the demand for rental homes is also high in this region. As the rental rates are not much expensive here, the home seekers who search for 2 bhk flat for rent in Bangalore at affordable rates prefer Hennur Road.
Once a sleepy suburb, Kanakapura Road has now emerges as one of the major realty hotspots in South Bangalore. As the locality is well connected to major residential areas such as Jayanagar, J.P Nagar and Banashankari, the locality has been luring many prospecting home buyers to invest here. Similar to Hennur Road, the capital values in Kanakapura Road also have increased by 4% in the last couple of years and likely to increase further with the upcoming infrastructure projects such as metro project and Peripheral Ring Road. The current prices of apartments in Kanakapura Road are in the range of INR 3600-4700 per sqft.
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