Top Localities to Invest in Bangalore- KR Puram & Hebbal
According to recent reports Hebbal and KR Puram also known as Krishnarajapuram have emerged as the two top localities to invest in the city of Bangalore. The real estate industry here is slow moving and gives steady returns for investors as well as home buyers looking to make the extra buck with the rentals. Whitefield and Sarjapur and Outer Ring Road follow this list. Price appreciation in areas of Hebbal and property for sale in KR Puram is expected to go up by 91 % to 94 % in the next five years. Many Indian and international real estate consultancy firms have confirmed these numbers and named these two localities as an ideal investment opportunity for builders and individuals alike. Sarjapur, Outer Ring Road and Whitefield is expected to show a price appreciation of nearly 70 % in the next five years.
According to a recent survey where the micro markets in India were studied on the basis of some important parameters like development, infrastructure, office space, land availability, future office space developments and absorption levels pointed out that the city of Bangalore will have 44.5 million square feet of new office space. This is be potentially driven by industries like information technology and information technology enabled services, biotechnology, aerospace and engineering sectors. 60 percent of the office place is slated to be built in and around the north and eastern parts of the city like Hebbal and KR Puram. This is also said to improve the capital values as well as rental values of apartments in KR Puram and Hebbal.
KR Puram has seen a rapid increase in the number of real estate projects including commercial, office space and residential space. There has been a record 200 % growth in the locality of KR Puram alone. Hebbal on the other hand has shown a mind boggling 500 % growth in the number of units in the last decade (year 200o to 2012). "These two markets are sun-rise areas due to various reasons, the most important being connectivity to arterial roads and proximity to business clusters," said Prashanth Sambargi of Mars Realty. This surely implies that there is been a rapid increase in the number of apartments in KR Puram and Hebbal. This growth very well caters to the growing industries in and around the area. Property for sale in KR Puram and Hebbal today have become prices commodity because of this rapid development in the region.
Properties in Sarjapur & Outer Ring Road and Whitefield have shown a price appreciation of 100 % and 70 % respectively. This will surely bring many Bangalore localities under the radar. In the national sense also, Bangalore is turning out to be the top city for individual and builders to invest in. Things are definitely looking up with many companies considering Bangalore over the Silicon Valley of India, Hyderabad. But it is truly hard to judge the behavior of the real estate market in the city. But a common conclusion remains that peripheral Bangalore today is the heart of realty development.
