Realty business on Bannerghatta Road recently took a profitable turn. Out of the main five localities on the road namely Hulimavu, Begur, Gottigere, Bennerghatta and Bennerghatta Main Road – three witnessed an upsurge on consumer demand. Properties on these selected localities also underwent a price rise. For real estate agents concentrated in these areas and developers/builders with projects here, this can be a good time for business.
Price movement by Consumer Preference
Bengaluru is striding away from dull markets. Couple of months ago, one would hardly trace any activity or on-ground transactions. Well, the phase belongs to the past now. According to a real estate portal data, the last quarter has witnessed the prices moving up for three out of the top localities by consumer demand.
Areas such as Hulimavu and Bannerghatta, which have significant consumer interest has seen that the prices have increased by 3-6 per cent. In Hulimavu the price change is mainly due to a new project launched here with about 900 units in the mid segment budget and in Bannerghatta which is close to the Koppa gate and Jigani, due to a constant demand for affordable plots approved under the Anekal planning authority.
Begur and Gottigere are other two areas where a large number of properties are ready for possession and lot of investor units are up for sale. This has dragged down the prices although there is still significant consumer demand in these localities.
Take a look at the price history of areas on Bannerghatta Road
Reason behind high demand
A residential region, it has a lot of demand from residents looking to live close to Central Bengaluru. A linear corridor which stretches for 28 km, the residential localities are spread on both sides of the Bannerghatta Road.
It witnessed an influx of people wanting to reside here during the initial IT boom in the city. The area had a good talent pool as many engineering colleges are in and around this corridor and that led to concentration of IT firms here. Most of the big IT companies have had their first offices on this road and many of them continue to hold onto these smaller spaces even though they have large office spaces in other corridors of Bengaluru. Currently the corridor is in demand as it has a well-developed social infrastructure and is close to work locations on Sarjapur Road, Hosur Road and Electronics City.
Planning on expanding your real estate network on Bannerghatta Road?
Interested on getting your hands into real estate business? Then you should be aware of the present residential development. Bannerghatta Road is one of the investment hotspots with immense potential.
The corridor has the widest range of properties available in terms of affordable plots as one moves towards Jigani and Koppa to high-end ultra-luxury apartments close to JP Nagar and Jayanagar near Bannerghatta Road.
It has equal supply of 2 and 3BHK formats and a supply which matches the demand. There are a few luxury villa projects as one moves towards Jigani but the demand is generally low for luxury villas. Luxury and ultra-premium 3 and 4BHK units have good demand at the start of the corridor close to the IT offices and near BTM Layout and JP Nagar.
Currently, the road is not covered in the Namma Metro network, but the red line that will be added soon will connect Gottigere to Nagawara. This is a 21.25-km long line that passes through Bannerghatta Main Road all the way until the Jayadeva Hospital. The project has been delayed as there is some realignment in process. The corridor is close to the existing green metro line which passes through Puttenahalli.
Credits ET Realty