Why is Sarjapur attracting the home buyers in Bangalore?

The locality Sarjapur in Bangalore is the centre for some the best luxury apartments in the city. The pure green environment flanks this area. The projects are perfectly placed surrounded by nature. In this metro city, one can breathe fresh air and have an enriching lifestyle.

The luxury apartments in Bangalore are no longer a dream as everything is much more accessible from Sarjapur Road. The property market in Bangalore a few decades ago was concentrated on the affordable houses, however, things have transformed dramatically in recent times. Now the top residential real estate in Bangalore is aiming to make luxurious villas. All these builders are providing the state of art amenities to the dwellers. 

Spacious living rooms with large windows are designed to provide ample natural light. It is one of the prominent features of the luxury apartments. The modular kitchen is fitted to provide the best style of living to the modern families. The bathrooms have very stylish fittings, which are bound to make bathing a special experience every time. All the projects have adequate green space to provide a healthy life to the people.

Some of the key reasons why the luxury apartments are creating wave of excitement among buyer's section:

Boisterous IT/ITES sector -According to an industry report, the IT and ITes sector of the Bangalore is sailing high on waves. This rising sector constitutes young homebuyers who now want to explore excellent living standards. They are financially sound to afford it.

Good Appreciation-The city of Bangalore is providing a good return on investment (ROI) as compared to the other leading metros. This is drawing eyeballs of many investors who are looking to gain decent profit from the property.

Good Location- All the projects are offered in the best locations of Bangalore city. Sarjapur is one the locality that is developing many luxury apartments.

Advancing Infrastructure- The infrastructure of the Bangalore city is fast developing and connectivity via all the modes like- road and metro rail is connecting all the corners of the city.

The growing infrastructure and development taking place in the city are attracting the homebuyers and making the city livable. There is a need to boost the growth of residential spaces so that the homebuyers and investors invest more in the area. It is a great time to invest in Sarjapur as it will provide a high return on the investment.

Is Bangalore a hot pick for real estate?

 

Many people is discussing downsize in the real estate business. There are potential number of deals, rejected or are not closed down at the last moment at places like Chennai, NCR and Mumbai but the distinction of the Buy Property in Bangalore is that during this gloomy environment the market is performing exquisitely well. There is a huge transit populace, which is choosing to settle down in Bangalore.

Let us check out the places where top residential projects in Bangalore are located-

 

·         North Bangalore- The northern part of Bangalore is going to experience rampant growth. The major contributors of growth of this area are proximity to the airport and easy connectivity from other parts of the city. These factors are making north Bangalore a good option for the homebuyers to invest in property here.

·         East Bangalore- Some people feels that the growth process in the eastern Bangalore is completely exhausted. However, in this area few construction activities are still going on. Areas like Whitefield and Sarjapur have developed excellently in past few years but there is scope for development activities further. Other areas in this part of Bangalore are –Varthur Road, Kadugudi and Hosekote.

·         South Bangalore- South Bangalore is relatively a quiet portion of the city. There is greenery and parks available in the area. The appreciation in this part of Bangalore is much less but undoubtedly, the quality of life of high standards. The veteran population of Bangalore still loves to live in Southern part. The major areas that are attracting buyers’ are- Bannergatta and Kanakapura road.

 

·         Central Bangalore- Central Bangalore is more of a commercial area and has better prospects as a business hub.

·         Western Bangalore- The western part of the city is commercially very well developed. However, few options are still available for construction such as areas 'Magadi Street' where there is huge scope for investment.

Bangalore being the Silicon Valley of India provides large-scale employment to many young professionals. This is a reason why there is growth in luxury flats in Bangalore. For all the employed professionals and local people, the real estate has become a requirement. Hopefully, it will push substantial demand for properties in the market.

Excellent Localities at Which to Own a Luxury Property in Bangalore

Luxury Property in Bangalore is gradually becoming more skewed towards developing more luxury units than was the case a few years ago. While a few years ago there was a stronger focus among Top builders in Bangalore to create budget homes for mid to senior level IT workers, today nearly thirty percent of upcoming projects in Bangalore are counted among the luxury segment. The market for luxury homes in Bangalore is driven by demand from expatriates, NRI’s, IT millionaires, senior executives working in IT, and NRI’s. Many high net worth individuals prefer living in Bangalore as opposed to any other city.

The Upmarket Locales of Bangalore

While Bangalore was well known as a retirement town and has many well-developed neighborhoods which served this purpose, today not only is the number of luxury projects in Bangalore increasing but so are the localities which are considered to fall in the luxury segment. Regions of the city such as Cunningham Road, Palace Road, Richmond Road, Fraser Town, Indira Nagar, and Sankey Road have always been considered luxury hotspots in the city where residents usually lived in large bungalows. Today however many homes in such localities tend to be large apartments occupied by NRI’s. Furthermore, there is also a larger presence of premium gated communities in regions of Bangalore such as Bannerghatta Road, Whitefield, Koramangala, JP Nagar, and Sarjapur Road.  Notably, the government has a keen focus to create better infrastructure in regions such as Hebbal, Kanakpura Road, Hosur Road, Jinagar, and Yeshwantpur.

Prices for Luxury Apartments in Bangalore

Luxury apartments in Bangalore can cost up to 6 crores in many regions of the city and often start from a price as low as 75 lakhs. Most flats in Bangalore at such price points are spacious 3 bedroom flats. Notably, unlike in virtually any other real estate market, in Bangalore one can buy a 4 BHK villa for 80 lakhs in the locality of Electronic City. If you want to buy a house in Bangalore in an upmarket locality it may cost you nearly 40,000 rupees per square foot in regions such as Richmond Road. Similar 3 BHK apartments in Bangalore located in Sankey Road are priced for sale at a rate of 30,000 rupees per square foot. Buyers with a more modest appetite have the option to own apartments in Bangalore in upcoming regions such as Hebbel where the price per square foot is between 4,000 to 7,000 rupees per square foot. Other regions of the city such as Koramangala, Indiranagar, and Cunningham Road carry valuations of 10,000 to 12,000 rupees per square foot. Hence a buyer who wishes to own luxury apartments in Bangalore may be able to do so for approximately one crore as there are diverse localities with differing price rates to suit many pockets.

Conclusion

Demand from NRI’s, Expats, and similarly high-flying segments is leading to a new dimension in Bangalore’s real estate market. Many such individuals are used to living in larger homes which also have every amenity imaginable. As such there are today a larger number of luxury apartments in Bangalore under development than there were at any other time in the past.

Excellent News This Quarter for Commercial Property in Bangalore

There was a slightly greater increase in demand for commercial New projects in Bangalore this quarter over the same quarter last year. This occurred in spite of the fact there was not an increase in demand for property from large multinationals in Bangalore. Much of the increase in demand for commercial property in Bangalore took place in Whitefield, which is the IT hub of Bangalore. The absorption for real estate increased to 2.7 million square feet from the 2.3 million square recorded in the same quarter last year.  During the first quarter of last year, the gross absorption of commercial space stood also stood at 2.3 million square feet. The properties under development which will be delivered within the next 4 to 6 quarters and net absorption of property together make up gross absorption. The moderate increase in the demand for commercial property may also lead to a moderate increase in the demand for commercial projects in Bangalore, particularly in regions close to Whitefield. 

Whitefield the IT Hub in Bangalore

The region of Whitefield witnessed the greatest increase in the demand for commercial office space this previous quarter. Whitefield had more vacancies for office space when compared to the Outer Ring Road. This is not necessarily good news for Whitefield as the reason for more demand for commercial space in Whitefield had to do more with available space at the Outer Ring Road which has a vacancy of only 2 percent due to its far smoother connectivity with regions which have more real estate in Bangalore.  

Companies Which Acquired the Most Commercial Space

According to experts, commercial property in Bangalore continues to remain constraint however there is a large supply of space in regions such as Whitefield and Electronic City. TCS acquired the largest amount of commercial space during the previous quarter in Whitefield, an area measuring .55 million square feet. The second largest acquirer of space was Broad Ridge Financial which acquired close to .15 million square feet of commercial space. Home improvement company Lowe’s acquired .12 million square feet of commercial space in Embassy Tech Park. An increase in the demand for commercial space is usually a good sign for the creation of new affordable and luxury flats in Bangalore.

What to Expect in the Future

Experts believe that though the news was positive was commercial property in Bangalore it is unlikely to match the growth in the previous two years. In 2014 and 2015 the demand for commercial property in Bangalore stood at 11.3 and 12.2 million square feet largely due to the fact that companies such as Flipkart, Ola, and Amazon made huge commitments to their businesses.

Unlike the glamor of the previous quarter which saw the likes of Apple and Diageo acquire commercial property in Bangalore, this year the only glamorous company to acquire commercial space has been Lowe’s. The Outer Ring Road continues to be the prime locality for commercial real estate in Bangalore due to its close proximity to apartments in Bangalore from where employees can commute smoothly to and from their office. Overall there has been a drop of .2 million square feet in commercial space acquired this year over the same time the previous year.