Economic housing is leading the residential landscape across top metros. In Bangalore, localities near Information Technology (IT) hubs rule the roost in this segment. 99acres.com shares a list of micro-markets near IT corridors in Bangalore that offer plenty of residential options within Rs 60 lakh.
One of the most stable markets, Bangalore offers lucrative housing options across all categories. The most popular localities are those in proximity to technology hubs as they offer easy access to offices, well-developed infrastructure, and excellent return on investment.
Vijay B Pawar, Founder and Director, Mirador Dwellers, concurs that due to the rapidly growing IT population in Bangalore, there has been a surge in the demand for residential real estate in the city. Professionals are particularly inclined towards buying properties in the vicinity of their workplaces. “This has led to localities near technology hubs offering easy commute, such as Whitefield, Marathahalli, Raja Rajeshwari Nagar, Old Airport Road, and CV Raman Nagar, gain higher popularity in the recent years,” adds Pawar.
Below are some suitable areas for purchasing a home if your budget is under Rs 60 lakh.
Known as the IT hub of east Bangalore, Whitefield offers residential properties in the range of Rs 4,100-5,300 per sq ft. Srinivas Gopalan, Group CEO, Ozone Group, comments that areas like Whitefield boast of proximity to Special Economic Zones (SEZ) and have also been benefited from infrastructure development that would further enhance the connectivity to employment hubs.
Whitefield’s pocket-friendly neighbour, Kadugodi makes for a good option for those looking for homes under Rs 60 lakh. With capital prices averaging around Rs 3,900 per sq ft, the locality offers abundant supply in affordable and mid-range segments. Smooth connectivity to prominent IT centres along with the upcoming metro rail connectivity make Kadugodi an attractive end use as well as investment destination. Those who find Whitefield properties on the higher end of their budget may consider settling in Kadugodi.
Bannerghatta Road enjoys sound social and physical infrastructure while offering a wide range of housing options priced in the range of Rs 3,600-4,800 per sq ft. Coupled with North-South metro corridor and ample office space developments in the vicinity, Bannerghatta Road is ideal for homebuyers near IT hubs. In addition, the region is popular for the presence of prominent institutions like the Indian Institute of Management (IIM), IILM Business School, AMC Group of Institutions, T John Institute of Technology, etc. Families of those enrolled in these institutions may keep this locality at the top of their preference list.
Electronic City, a popular IT hub itself, offers plethora of housing options in the range of Rs 3,300-4,400 per sq ft. Experts state that about 70 percent of the inventory in prominent markets such as Electronic City, Bannerghatta Road, and Whitefield are ready-to-move, making them well preferred by end users looking for options for immediate use. Not only does Electronic City offer ample employment opportunities, the presence of the completed North-South metro route makes it a very desirable location. Attractive capital and rental returns in Electronic City also makes it suitable for investments.
This realty hub enjoys healthy residential demand due to its hassle-free connectivity to the IT clusters along the Outer Ring Road (ORR), Whitefield, and Electronic City. As per 99acres.com, average capital value in the locality is currently around Rs 4,800 per sq ft. Sarjapur Road has been witnessing a surge in commercial activities as well, making it an attractive rental hub and drawing significant interest from those looking for properties to invest in. In addition, the Peripheral Ring Road (PRR) proposed under the Bharat Mala Pariyojana will accord homeowners along Sarjapur Road an alternate route to the northern quadrant of the city. The 116 km long PRR will connect the micro-market to other prominent hubs of the city such as NICE Road and Old Madras Road.
The locality boasts of quality housing options near connectivity links and finds favour among those employed at Manyata Tech Park and Whitefield. Strategically placed off the ring roads, Horamavu assures smooth connectivity to daily commuters. It also scores high on social infrastructure and entertainment options, besides being a top choice for frequent travellers due to its proximity to the international airport. With average capital prices pegged at Rs 4,250 per sq ft, Horamavu is suitable for homebuyers with budgets restricted to Rs 60 lakh. While a 1BHK here can be bought at Rs 25-35 lakh, 2BHK and 3BHK units may cost around Rs 38-55 lakh.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.