Bengaluru or the ‘Silicon Valley of India’ is the third largest city of India. With software companies finding East Bangalore too crowded, North Bangalore is housing some of the biggest names in the IT sector like IBM, Cognizant etc. Along with IT Companies, and some of the most eminent names of the realty sector like the Embassy Group, Mantri Developers and so on have also expanded in the Northern part of Bangalore. Therefore, Northern Bangalore is being known as both a new IT hub and a real estate center of Bengaluru. Let us find out the top 5 areas for property investors looking to invest in a flat for rent in Bangalore.
Along with being the software hub of India, Bangalore has always been on the list of most preferred city for property investments. Out of all the regions in Bangalore, North has been and continues to be the most likeable locality for both IT Companies like the IBM and the realty giants like Mantri Developers.
Reasons why North Bangalore is gaining future landlords’ attention
Kempegowda International Airport
The international airport, which is only 40 km. from the center of the city is expected to achieve 55 million commuters yearly by 2029-2030 and nearly one million tons of freight movement. The airport is based in North Bangalore, making the area suitable for investors.
ITIR [Information Technology Investment Region]
The expected ITIR will be based in the Northern region in a smallest amount area of approximately 40 Sq.kms. it might include Industrial Parks, Special Economic Zones, Free trade, Warehousing zones and Export oriented units. It is expected to be a mix of environmental protection mechanisms, production units, and administrative services residential areas with premium infrastructure.
Bengaluru Aerospace Park
BAP is in the process of being launched as premium aerospace hub, based adjoining Bengaluru International Airport in North Bangalore. It will be a 985 acres facility reachable by some top national highways. NH7, NH 4 and NH 207, it is also expected to contain 252 acres of SEZ in its boundaries.
5 most likeable places to invest in North Bangalore for high rental returns –
The new monorail development and a high speed rail network plus the Bangalore metro is expected to increase the connectivity of Hebbal with other regions. The area encompasses various companies and provides easy reach through flyovers that connects ORR (Outer Ring Road) and NH-7. Property cost range is between Rs 5814 to Rs 7000 per sq.ft.
The area being very close to the Airport, three projected IT parks and an anticipated 4 lane highway, turns it into a very beneficial option for investment. The region houses educational institutions, health care centers etc. The cost per sq ft in Devanahalli from Jan to March 2014 was Rs 3375 – 4113.
It is one of the most important residential hubs for premium to luxury housing. The area has significant colleges. Because of the immediacy with IT parks, the area is observing continuous demand of housing. The property range in Yelahanka differs from Rs 4637 to Rs 5000 sq ft.
The projected Information Technology Investment Region (ITIR), Aerospace Park and Planned Peripheral Ring Road are making the residential areas in Doddabalapur Road a favored place. The property cost varies from Rs 3749 to Rs 4500 sq ft.
It is directly linked with the Airport and has enthused large returns from past few months. Because of the availability of the luxury estates, it demands a high price. Being a few minutes’ away from the city’s center and close to the Airport is expected to give better returns in coming years. The property prices are Rs 22,903 to Rs 30,000 sq yard.
North Bangalore is one of the most prime locations in the area. However, before you invest in a property there, make sure the developer is giving you a value for your money and a promise of high returns.