Top Emerging Areas For Buying Your Dream Home In Bengaluru
Bengaluru real estate market has always been relatively stable since it is primarily driven by the end users. The city has been witnessing a growth in the number of IT- ITeS companies and startups which has been further driving the demand for real estate in the city. Known for its multi- cultural population, brilliant educational institutes, and great social infrastructure that is well complimented with constantly evolving physical infrastructure has also been a driver in attracting investments from across the globe.
The below mentioned micro- markets are likely to garner more attention this year:
Banashankari (BSK), is a suburb situated close to south Bengaluru. It gets its name from one of Bengaluru's oldest and well known temples the Banashankari Amma Temple. The largest locality in Bengaluru, extending all the way from Mysore Road to Kanakapura Road, Banashankari is the only area which has all the possible classifications – stage, phase and block. The presence of wide roads, abundant water supply and electricity among the lap of green canopies across the area, makes it more livable. The presence of reputed healthcare units and educational institutions makes Banashankari an ideal destination for families and retired personnel. The locality has also been attracting many IT professionals. It is well connected to the Outer Ring Road and has access to majority of the city via public transport, including Namma Metro. The state government proposed elevated corridor is expected to further connect Banashankari to Hebbal, in the north of the city.
Tumkur Road is located in the northwest part of the city. This micro- market is strategically located between residential areas and the industrial region and thus offers brilliant aspects in terms of location as well as connectivity. It is considered an upcoming residential real estate market. Major developments are on the cards in and around the area include the proposed Mumbai- Bengaluru Industrial Corridor, Metro Rail Phase 1 and Phase 2 and Peripheral Ring Road. The area also offers world class facilities such as the Alur Cricket Stadium, Bengaluru Exhibition Centre and Namma Metro. The excellent bus connectivity and the presence of great social infrastructure such as Harvard International School, Euro School, People Tree Hospital, Colombia Asia Hospital etc. have attracted homebuyers from across the city.
JP Nagar is considered as one of the fastest growing localities in Bengaluru due to booming real estate and infrastructure development in and around this region. Presence of major IT Parks and commercial zones along with a thriving high street retail and entertainment hub nearby resulted in becoming the preferred destination for the potential home buyer. The ORR (Outer Ring Road) passes through the locality and provides good connectivity. The area has many renowned educational institutions and multi-speciality hospitals that has attracted many home-buyers. Considering the development in infrastructure, JP Nagar has been a hotspot for residential development.
Bellary road micro-market has emerged as one of the fastest growing residential areas of Bengaluru with a lot of infrastructure developments and projects coming up in the area. With a close proximity to the commercial and industrial catchment areas of Hebbal, Yeshwantpur, and Devanahalli, it also offers good connectivity to Outer Ring Road, Bengaluru International Airport, and the Central Business District.
Sarjapur is yet another location which has been growing at a rapid pace. With good road connectivity to Whitefield, E-City, Koromangla, Outer Ring Road and Marathahalli, Sarjapur is seeing a lot of commercial and residential developments in the past few years. After the Wipro Campus, coming in, this area has really picked up well and property prices have appreciated significantly.