The financial year 2014-15 saw some significant changes in the real estate market of Bangalore. The capital values across some of the popular sub-markets of Mumbai have seen good appreciation. However, the overall absorption rate for the Flats for Sale in Bangalore are recorded to be lower than the last year. Several new projects also came up in different parts of Bangalore.
Unlike East and Central Bangalore, North Bangalore has received much attention of the investors this year. The main reason behind popularity of this area as a residential and commercial destination is its proximity to international airport. IT parks are also coming up around the area which will further boost its commercial development. Karle IT Park and Embassy Manyata Tech Park are the two most famous Special Economic Zones in North Bangalore. The location is also a hub of fundamental research institutes and colleges that match international standards in their curriculum and training techniques. Over 500 reputed organizations including BHEL, HMT and Hindustan Times have their offices here.
Click Here for Current Property Price Trends in North Bangalore
As reported by the Price Trends graphs of Investors Clinic, the average property price for North Bangalore was Rs 4,155 at the end of August 2015. During the same time period last year, the prices were Rs 4,017 per sq ft. The prices came down drastically to reach Rs 3,290 per sq ft in November ‘14 and then started picking up again. It stayed stable from Jan to March and then fell down again. The graph started picking up pace again in June and reached the above mentioned figure.
It is obvious that the property rates would not be as good as South Bangalore because of the posh and elite residential areas. Bellary Road, Nagavara, Thanisandra, Jakkur and other IT parks stand as the perfect destinations for property investment. The residential property market of North Bangalore is pretty stable as of now and it is a good time to invest your money. Mysore Road is a good option for end use purpose as it is affordable as well as its livability score is also good.
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