At a time when most of the tier-I cities in India are witnessing an almost stagnant real estate market, Bengaluru remains one of the most active realty destinations. Even the sentiments of the home buyers have remained positive in the city with both end-users and investors being highly active. This has positively impacted the property prices of various neighbourhoods. Investors stand to earn profits.
Which are the top appreciating neighbourhoods in the city? According to the data available with Magicbricks, in the last three months, localities such as Banashankari, Sanjay Nagar and Sarjapur-Attibele Road have seen the highest capital appreciation.
One of the largest layouts in the city, Banashankari gains from its easy connectivity and well-developed social and civic infrastructure. “One of the major reasons why people look for properties here is that it allows them to travel to any part of the city easily,” says Ashwini, a resident of the locality. The area is accessible via Mysore Road, Outer Ring Road and NICE Bangalore-Mysore Expressway.
Prasana of Indu Realties, a broker firm, believes that being a residential area primarily also plays in Banashankari’s favour. No major commercial developments or malls are present in the area. However, educational institutes, shops, banks and restaurants are present in the vicinity.
Prasana of Indu Realties, a broker firm, believes that being a residential area primarily also plays in Banashankari’s favour. No major commercial developments or malls are present in the area. However, educational institutes, shops, banks and restaurants are present in the vicinity.
The continuous demand from buyers keeps the real estate market ticking. In the last three months Banashankari has witnessed a 14 per cent appreciation. It has a mix of both ready-to-move-in and under-construction properties with capital values varying from Rs 5,900-7,900 per sq ft.
Source - Times Of India
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