Since time immemorial, Bangalore’s real estate debate has been all about southern versus eastern markets. Well, there seems to be a new contender in the race now!
While the former markets have recorded maximum new launch supply in 2016, interestingly, northern markets are not far behind. Our data clearly indicates healthy supply in markets such as Hebbal, Hennur, and Thanisandra.
Realistic property prices coupled with ample availability are the two major reasons fuelling the growth in this region. Moreover, in terms of connectivity and infrastructure, North Bangalore has always scored over its counterparts. Be it the proximity to the international airport or the tech and business parks like Manyata Tech Park and Kirloskar Tech Park or the recreational spaces like Elements Mall- the region has best of all worlds.
In terms of market segmentation, mid-segment properties dominate the property spectrum in the North with 51 per cent. This is followed by 28 per cent projects in the affordable segment, 12 and 9 per cent in luxury and ultra-luxury segment respectively. That’s not all! The region is also expected will see healthy supply of ready-to-move-in properties by the end of this year.
Here’s a snapshot of top three markets that should be in your list if you are planning to invest in Bangalore this year.
Once considered to be the north endpoint of the city, the real estate growth of Hebbal has been nothing short of remarkable. Bustling with commercial and residential development, the area has grown leaps and bounds in the last few years.
As per PropUrban data, Hebbal has recorded nearly 1,000 new launched units since June 2016. Few of the prominent projects in the area are Sobha Palm Court, Vaishnavi North 24, Arvind Skyland and Citrus Zen Garden.
The connectivity and infrastructure in Hebbal has grown at a frantic pace owing to the Hebbal Flyover that connects Outer Ring Road (ORR) and Bellary Road. All the major roads leading to the airport also interconnect at Hebbal making it an important commercial centre.
And with the construction of an elevated expressway and a Peripheral Ring Road (PRR), the connectivity in this region is expected to improve further.
That’s not all! There is also a planned expressway flyover which is six-lane elevated corridor connecting the city centre i.e. Basaveshwara Circle (Chalukya Circle) to Hebbal Flyover, which will make places like MG Road and city railway station easily accessible.
With average price per sq.ft. pegged at Rs 5,900, Hebbal deserves to be on your list.
An area that gained significant traction from the international airport is Hennur. Unruffled from the hustle-bustle of the city, the quite neighbourhood of Hennur offers all the requisite civic and social amenities to its residents. Located at the Outer Ring Road (ORR), the area is at the cusp of progress with an alternative route for the airport in the pipeline.
Hennur Main Road is a 12km stretch that connects Kannuru, a small northern town in Bangalore with Bangalore East Railway Station. Not to mention, connectivity is a clincher for the real estate growth here.
Moreover, Manyata Tech Park being in the vicinity makes it an attractive residential option for the techies. In addition to these, Hennur Road is planned to be widened to a four-lane highway along with a cargo road for the international airport.
As per our data, nearly 360 units entered Hennur Road since June 2016. With the average property rates falling in the brackets of Rs 3,700-5,800 per sq.ft., Hennur clocked second position on our list of top investment destinations in North Bangalore.
With its peaceful backdrop and presence of abundant green space, Thanisandra has secured third slot on our list. The area recorded about 760 new units launched since June 2016. Interestingly, the area also has projects offering good number of studio and 1BHK units. These include Assetz Here & Now and Asset Northstar, among others.
Good accessibility to the IT/ITeS hubs of Whitefield, Nagawara, Hebbal and ORR has significantly upped the ante of the area. Further, with the expansion of Thanisandra Main Road as an alternative route to airport and the ongoing Namma Metro Phase-II, the area’s connectivity is further expected to get a shot in the arm in the times to come.
At present, the area has several mid and luxury projects that are up for grab at a very competitive price. With an average price of Rs 4,100-6,050 per sq.ft., properties in Thanisandra definitely deserves to be on your investment list!
Want to know about any other area in Bangalore? Just drop in your query in the comment box!