When it comes to property market in Bangalore, there is a consistent increase in demand of various categories of property and homes. Many renowned builders have launched new projects across the city to meet the steady demand of the assets.
Some of the several reasons behind the drastic demand for residential properties in the area are, increasing effective job opportunities, pleasant climate, and large number of educational organizations, infrastructural developments, and cultured lifestyles.
Here is a detailed description of different types of residential markets in Bangalore.
Price Trends for Ultra-Luxury Flats
There are several places in Bangalore that are considered as the most costly residential areas having remarkable appreciation in prices. This type of areas has WAP (weighted average price) 6000 Rs. or more per square feet.
Some of the areas under this category include Kanakapura road, CV Raman Nagar, Banashankari, and Hebbal. Many renowned developers have undertaken some major projects in these areas in order to meet high demand of the residential plots.
Some of the Luxury Residential places and their Prices
These luxury areas have a WAP in the range of 5000 to 6000 Rs per sq. feet. Some of the areas that fall under this category are Brookefield, Uttarahalli, Varthur, Sahakara Nagar, Sarjapur Road, Jalahalli Cross, Kudlu Gate, and Hosur Road.
These areas have prominently noted a rapid development due to the remarkable growth in infrastructure. There are a number of construction projects that are rising in these regions, especially a good number of apartment projects are predicted to be developed. The presence of many good IT companies has influenced these projects in the environs.
The regions that fall under this type include Horamavu, Jakkur, Magadi Road, Hennur Road, Grand Total, Old madras road, Bannerghatta road, Hosa road, Electronic City, Mysore road, Whitefield, and Kalyan Nagar.
These areas have comparatively lower rates because of the scarcity of developable land that is available to launch any major project. For developers and investors, independent house for sale in Bangalore can bring in good profits or returns.
Which residential markets can be economical?
The expected WAP range of these areas is 3000 to 4000 Rs per sq. feet. These areas include Thanisandra Main Road, Sarjapur, Gunjur, Rajarajeshwari Nagar, Bellary Road, Sarjapur-Outer, Electronic City-Outer, Jigani, etc.
In some cases, these regions are termed as rural areas of Bangalore. However, they are witnessing fast paced infrastructure development as well. There is a good demand of flats in these areas by the investors, as they are able to buy properties for low costs. Additionally, these areas present considerable future prospects too.
A deep analysis of current trends in residential property
It is seen that apartments are more preferred kind of property for residence, especially for 1 and 2 BHK units. In case of apartment type of residential property, 2-3 BHK flats are more selected as compared to several other configurations. This analysis is based on the study of the trends for distinct BHK configurations for residential properties.
To wrap up, there are a wide range of property options available in Bangalore. You can get the best deals that suit your budget by just taking care of some considerable aspects of the residential projects.