Bangalore East: High Demand For Premium Homes

Bangalore east was known for its plush colonial-style bungalows in the established neighbourhoods of Fraser Town, Cox Town, Cooke Town and Indiranagar, all the way up to the sparsely-populated Whitefield. With the expansion of the city to include several new areas, the east belt has seen an uptake in luxury housing options, mainly owning to the spread of IT in the region. Proximity to workplaces, easy access and high disposable incomes has led to a rise in demand for villas, row houses and apartments in the premium bracket of over Rs 1.50 crores here.

Satish B N, Executive Director – South, Knight Frank India, elaborates on the emergence of luxury options in the east. “Essentially, luxury housing in the east took off in the form of mid-segment villa projects which were patronised by top executives working in IT/ITeS companies around Whitefield. The fast-paced growth of the IT/ITeS sector in the subsequent years led to increased demand for high-end luxury apartments and villas.”

Alexander Moore, Chief Executive Officer – India, LJ Hooker, says, “The first luxury options were apartments, which first appeared in the east in areas such as Whitefield, Bellandur, Harlur Road and Marathahalli. This was due to the development of the hi-tech zones here. This created high income employment in greater numbers and the effect was a demand for quality housing nearby. Villas and row house developments came up predominantly in Whitefiled as well as Sarjapur Road.”

Areas witnessing traction

Research by Knight Frank identifies localities in the east with options in the ticket size of Rs 1.50 crores and above – Indiranagar, CV Raman Nagar, Domlur Road, Old Airport Road, Brookefields, Whitefield Road, Hoodi, KR Puram, Marathahalli, Panathur Road, Varthur Road and the Outer Ring Road belt (ORR).

Satish says, “Proximity to the ORR coupled with the availability of large graded office space has transformed Bangalore east into a self-sustaining IT/ITeS hub with support infrastructure like malls, hospitals and reputed educational institutions. Growth of high-end residential markets in this zone has primarily been in Whitefield, Hoodi, Old Airport Road, KR Puram and Marathahalli.”

The buyer profile has also changed significantly in the last 10 years. “On an average, the age of the typical high-end homebuyer has come down from the 40s to the mid-30s. A large number of highend homebuyers now belong to the IT industry, rather than having their own businesses,” he adds.

Why these locations?

High-end options have emerged in these areas owing to several factors such as good connectivity to the international airport, physical infrastructure and proximity to prime locations, presence of workplaces in the vicinity, easy access to various retail and entertainment options, stable demand etc. Satish points out, “Indiranagar and Domlur are preferred high-end locations due to established neighbourhoods and proximity to the Central Business District, while locations like ITPL Main Road, Varthur Road and Brookefields are preferred due to their proximity to the Exports Promotion Industrial Park (EPIP) zone. Also, widening of parts of the Old Madras Road has enhanced connectivity, reducing the commuting time to the IT hub of Whitefield considerably, thereby increasing the demand for the location.”

Moore adds, ‘The high-income earning density is concentrated around these hitech zones -Whitefiled (ITPL) and Sarjapur Road (ORR IT cluster). Better social infrastructure and civic amenities, connectivity and access, and spacious living options are some of the advantages of these premium neighbourhoods. The appreciation potential is 12-15 percent and the rental potential can range anywhere between Rs 40,000 to Rs 1.50 lakhs per month.”

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Five Most Preferred Locations in Bangalore for Real Estate Investment

Bangalore: As per 2014 survey Bangalore, being as an IT capital of the country witnessing a robust increase in real-estate. The city is considered the almost all preferred location for investment. Over the decades, the metropolitan city is witnessing a huge progress in IT/ITes sector. Presently, Bangalore has been a hothouse of household and commercial properties and also received many appraisals from the mass media. More people from other nations and countries moving into the city for job opportunities and this is one of the major reasons for real-estate growing that differentiates the location from other metropolitan cities in India.

The investments in Bangalore may truly be a profitable way to cash because the city delivers beneficial conditions for living and earning. Real estate buying requires lots of concerns to be thought about and the location becomes biggest concern. The majority of admired suburbs for Real-estate investment in Bangalore are Marathalli, Whitefield, Electronic city, Sarjapur Road and Bannerghatta Road.

Marathalli:

As per the research Marathalli continues to be rated as the top real estate rich area. This exactly situated in the East zone of Bangalore. Slowly, Marathalli has turned in to busiest vicinity that satisfies the residential needs of people working with MNC Organizations at Sarjapur, Bellandur and Whitefield. This suburb is positioned on the outskirts of Bangalore city with propinquity to Hal Airport, Electronic city, Sarjapur and Whitefield. This area is well structured and has made it 1 of the primary destinations for property investment. This renders the best connectivity in and around the city; this becomes the reason for its viability in topping the listing of best preferred locations for real-estate investment. The name itself explains that, Halli means a village in Kannada and Marut is a fighter Aircraft.
 
WhiteField:
 

Presently, Whitefield located in east Bangalore retained as a top spot among buyers in Bangalore city. This area is followed by Marathalli, Sarjapur Road, Mahedevapura and varthur Road with significant improvement from the last year. Improved connectivity and mushrooming of High schools, Malls, High class hotels, Theatres near Whitefield made this as an attractive suburb. Proximity to IT Hubs, Technical parks and MNC Companies, improved connectivity due to flyovers, Outer ring Road and broader roads have ensured that Whitefield continues to top the list of preferred vicinities in Bangalore city for Real-estate investment.
 


Electronic city: 

Electronic city bagged the 3rd rank as a preferred location for real-estate investment from last quarter. In silicon city, Electronic city is one of the biggest IT Park in India. Being as Panchayat Town, Electronic city offering world class infrastructure with biggest multinational organizations like Wipro, HCL, TCS, Infosys, IBM, Biocon and many. The area is one of the economical vicinities in Bangalore providing a large array within the Rs 50 to 60 Lakh range. The presence of metro, Shopping malls, Hospitals, Educational institutions have pushed this area as a top on the investment radar.

Bannerghatta Road:

In south Bangalore, Bannerghatta Road is another popular residential hotspot which is centrally located and is one of the remarkable vicinities. The first quarter of the year witnessed this area as a prime location for many buyers and investors. This vigorous mix of buyers and investors is supplied to depict the stable progress in this locality.

South Bangalore witnessed the commencement of the IT Hubs; it has been a preferred commercial and Residential locality and continues to extract focus from occupiers. With the Outer Ring Road connectivity, Hosur Road Express way, Upcoming metro lines, intended widening of arterial roads the south zone has expanded advance towards peripheries’. These all features ensured availability of land benefits.

Sarjapur Road: 

Sarjapur ORR come up as a preferred office destination, a signal free corridor initiative is an additional advantage for this location. This location is mainly favored due to the presence of good commercial infrastructure and residential micro markets in the vicinity. This area came into prominence due to several factors like proximity to central business districts, Physical and social infrastructure, availability of large land parcels, connectivity to the airport and many other. This area provides better transport links in and around Bangalore location, in addition to the growth and development of IT parks. The largest price listed under the commercial and household real-estate segment. The affordability in prices is attracting potential investors to invest in these localities.