In our series of posts regarding the sub-markets of Bangalore real estate, we have already covered North, South, East Bangalore and the entire city in general. One segment that still remains uncovered and deserves a proper analysis is West Bangalore. The western part of the city is comprised of popular residential localities like Tumkur Road, Malleswaram, Yeshwantpur and the entire industrial area of Rajajinagar.
West Bangalore and the area surrounding is known for having the most high-density population in the city. Being the traditional industrial hub of Bangalore, this area is still dominated by warehouses and large scale industries. The commercial development around the area is predominantly in the form of small public sector units, small scale industries, warehouse businesses, government offices and research institutes. There are no major commercial buildings or office spaces and the location also lacks the MNC culture that is otherwise present in other sub-markets like North and South Bangalore.
Click Here for Current Property Price Trends in West Bangalore
As per the price trends reports of Investors Clinic, the average property price for West Bangalore was reckoned at Rs 3,786 per sq ft at the end of August 2015. Unlike other micro markets where the prices remained quite steady, this locality went through many ups and downs. During Sept 2014, the prices were recorded at Rs 4,149 per sq ft which drastically came down to Rs 3,416 per sq ft in October. Then, prices remained steady for only a short time period then again came down during June 15.
Reputed builders like Prestige, Sobha, Garrison, Kensington have launched their projects in locations in and around West Bangalore. Keeping in mind the financial status of the dwellers who work in industrial areas, developers also offer affordable housing options in varied configurations. Peenya Industrial Area houses the industrial setups of many top grade companies like Parle G, Volvo Construction Equipment and ABB Limited.
The location holds immense potential for real estate investment. The Peripheral Ring Road (PRR) connects the neighborhood to major parts of the city and reduces travel time for commuters. The proximity to international airport will also be enhanced after the upgradation of this road. The locality holds good from short to medium term investment perspective especially in the affordable to mid-segment units. Ultra-luxury homes should not be a preferable choice. The area between Tumkur City and West Bangalore will be developed into Smart City which will further boost its potential for real estate growth.
Read More About………Property Price Trends in North Bangalore