In North Bangalore Airport Road separately makes way for an excellent real estate market in the city. As a lot of middle-income professionals come to settle in the city so the demand for affordable and mid-range properties in Bangalore experiences a hike in many parts of Bangalore. This section of middle income people has shown a keen interest to invest in locations like Nagwar, Sanjay Nagar, and Yelahanka, all along the road to the international Airport.
Price Hike- With the increasing demand, prices in and around these regions have also witnessed a hike in the last quarter. Data reflects an increase in property values on the Airport Road by 14 per cent in the last quarter of 2012. Prices in Nagwar, Sanjay Nagar and Yelahanka have risen by up to 20 per cent.
Demand- Due to large amount of demand for residential property from the IT industry, locations close to major IT hubs have witnessed the maximum growth in Bangalore Real Estate since a while now. Many IT companies opening and previous ones relocating to Devanahalli Town (15 kms from Airport Road), the trend has followed in areas along this stretch too. Presence of IT companies and the over all aspects of the location is the main reason behind a rise of demand in the residential sector along the Airport Road.
Booming of IT industries- Mass hiring by companies such as Infosys and Wipro from across the country is leading to a large market for 2 and 3BHK configurations. With majority of these buyers being young and coming from the middle income segment, 2BHK apartments receive maximum demand. Around 60 per cent of the buyers around Airport Road are going for 2BHK units with 3 and 4BHK getting a combined market of 40 per cent.
Offers reasonable property prices in Bangalore- Nagwar, Sanjay Nagar, and Yelahanka are preferred on account of their proximity to the airport. Being away from the main city limits, these localities offer affordable options to home buyers. For instance, Nagwar offers properties in the range of Rs 50- 70 lakhs. The average property price available on the Airport Road ranges from Rs 4,500-5,500 per sq ft. The Airport Road stretch also witnesses a healthy rental demand with values ranging between Rs 18,000 to 25,000 per month.
Infrastructure benefits- Other infrastructural developments such as planned SEZ’s and metro are also expected to make Airport Road an ideal investment destination. With the completion of the metro route and enhanced connectivity to the areas, an increment of almost 20-25 per cent is expected on Airport Road in the coming years. Looking at such optimistic reviews from the market, it is evident that Nagawara has good future prospects. It is ideal for both those who are looking for residential buying and also long term investors.
Courtesy :Real Estate News and Trends in India
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