Bengaluru is one of the prime cities in India that has for the past decade, attracted people from all over the country owing to its lucrative job market and impressive urban infrastructure. The migration of a heavy population to the city has created surplus demand and supply of real estate in Bengaluru. The enactment of buyer-friendly policies like RERA and the Subvention Scheme has made real estate investments in Bengaluru more transparent, encouraging accountability and uniformity.
All properties are now to be registered under RERA, which makes the entire process of buying and selling a property more convenient and trustworthy. RERA-certified projects in Bengaluru, as in the month of December 2020 have been 4,474 with 2,478 registered agents. The average property price in Bengaluru is ₹5495/sq.ft with a growth rate of 4%. However, the estimated cost of property varies according to its location and based on its features. Some of the prime locations in the city that ensure the best return of investment are:
- Yelhanka: Yelhanka is one of the key places in the northern belt of Bengaluru that has garnered the top spot for investment because of its closer proximity to the Kempegowda International Airport. The place has an efficient air, road, rail connectivity and houses multiple IT companies and other employment hubs. Yelhanka is an upcoming residential area which makes availability of affordable property possible.
- Whitefield: Whitefield is a comparatively established corporate and residential area in Bengaluru. It shelters the major IT parks and is well connected by the purple line metro that runs between Majestic and Whitefield. The hassle-free metro connectivity, availability of affordable residential housings and the presence of major IT giants makes this place well suited for professionals and families alike.
- Sarjapur Road: Located in the south-eastern part of Bengaluru, Sarjapur Road, is a well-connected professional and residential area. Its linkage to the Outer Ring Road (ORR), NH-44, Hosur Road, and SH-35 makes the place both accessible and convenient to its residents. It has some of the major IT firms and gives buyers an array of affordable residential properties to choose from. The upcoming metro project is the key highlight of this area.
Apart from these, places like Hebbal, Hennur Road, Devanahalli and Thanisandra in North Bengaluru; Kanakpuram Road, Kengeri, Bannerghatta, Electronic City, BTM Layout, Attibele in South Bengaluru; and Nayandahalli in East Bengaluru provide some of the best returns on investment, both on properties for sell and on rental properties. The estimated property cost in the Electronic City and Raja Rajeshwari Nagar is between ₹ 3000 – ₹ 4000/sq.ft. Whereas, properties in Whitefield and Sarjapur Road comes within the stipulated amount of ₹ 4000 – ₹ 5000. Properties in J P Nagar and BTM Layout come within the range of ₹ 5000 – ₹ 6000/sq.ft and those in Koramangala and Hebbal come between ₹ 6000 – ₹ 9000/sq.ft.