Land is one of the best options if you want to put money into real estate. Land is a valued asset, with demand greater than supply. It would also appreciate over time and produce greater returns. Furthermore, land gives you the freedom to do whatever you want with it in terms of development. You can choose to build any type of property you desire on the plot. Land investment also has lower initial expenditures than investing in developed properties. These are a few factors that make land an attractive investment.
Bangalore is the best option if you want to invest in land in Karnataka. This blog takes you through the advantages of buying plots in Bangalore as well as the best localities to buy plots in Bangalore.
Bangalore’s Real Estate Market
Bangalore, the capital city of Karnataka, is also known as the “Silicon Valley of India” because of its growing IT sector. It is also one of the most developed cosmopolitan cities in the country, giving the best of both a calm, culturally rich and contemporary life. The city has many young people travelling from all over the country for jobs since Bangalore is also home to several successful companies.
If you are considering buying land in Bangalore, now is the time. A variety of causes are fueling the Bangalore real estate boom. The city is a significant IT and business outsourcing centre, which has resulted in an influx of well-paid professionals. As a result, the demand for housing has outpaced the supply. Investors are also coming to Bangalore, drawn by the city’s brisk economic growth. Property prices are bound to climb as more money pours into the city.
The city’s IT sector and newly established industries are expanding rapidly, and businesses are hiring aggressively, creating a surplus of work opportunities. It resulted in strong demand for commercial and residential real estate. With so much recruiting happening, the city requires more residential space to accommodate the influx of people. Commercial real estate needs to fulfil the growing demand for offices and other space required for IT businesses and newly established industries.
Top 5 Localities to Invest in Plots in Bangalore
Here is a list of five promising areas to help investors make informed decisions:
1. Hebbal
According to experts, Hebbal, falling in the city’s northern part, represents an outstanding long-term investment potential. Property values are rising due to its proximity to the Kempegowda International Airport, connectivity via the Outer Ring Road (ORR), and quicker access to the Central Business District. The average locality price in Hebbal is Rs. 9897/sq.ft.
The proposed Aerotropolis, IT, and Aerospace parks will benefit real estate in Hebbal and North Bengaluru immediately. Road extension projects and the development of large-scale townships, such as Hiranandani Glen Gate, Brigade Laguna, Brigade Triumph, among others, are driving the real estate potential in Hebbal.
2. Sarjapur Road
Sarjapur Road in the southeast is another popular property investment location. Sarjapur Road is on the radar of IT companies looking to set up establishments. As a result, a sizable residential catchment area has developed around the neighbourhood, catering to IT professionals seeking affordable accommodation.
The central government has authorized the construction of a Peripheral Ring Road (PRR) that will connect Hosur Road to Tumkur Road through KR Puram, Bellary Road, and Sarjapur Road. This massive project would connect Bengaluru from north to south while reducing traffic congestion on Sarjapur Road.
3. Whitefield
Whitefield is still a well-known business and residential district in East Bengaluru. The average locality price in this area is Rs. 7231/sq.ft. In the area, there are both established IT companies and start-ups. Because Whitefield is on the route of Namma Metro Phase 2’s upcoming Purple Line, interest in homes in the neighbourhood has surged. South Western Railways has launched a morning train service from Majestic to Whitefield to ease traffic on the road.
4. Tumkur Road
Tumkur Road NH-4 is part of the West Bengaluru sub-market. The neighbourhood is well-known as an industrial hub, having a high concentration of heavy industrial and warehousing operations. Because the land values in this city region are cheaper, at an average price of Rs. 3100 per sq/ft., it is an excellent starting place for long-term investors. The development of the Peripheral Ring Road (PRR) would improve connectivity and reduce travel time to central areas of the city. The commute time from Tumkur Road to the airport should decrease once the PRR is operational.
5. BTM Layout
BTM Layout is close to prominent locations like Koramangala, Bannerghatta Road, and HSR Layout, and it offers a decent infrastructure and a variety of housing options. The neighbourhood has connectivity to the Bannerghatta Main Road, the Outer Ring Road, and the Hosur Road, and it offers affordable and mid-range housing options.
Metro stations such as Jayanagar, Rashtriya Vidyalaya Road, and Banashankari have improved BTM Layout’s connectivity to the rest of the city. The proposed R V Road Terminal-Bommasandra Line will also serve the region.
Conclusion to Best Localities for Plots in Bangalore
Land is one of the best options if you want to put money into real estate. Land is a valued asset, with demand greater than supply. It can also appreciate over time and produce greater returns. Furthermore, land allows you the freedom to do whatever you want with it in terms of development. You can choose to build any property you desire on the plot. Land investment also has lower initial expenditures than investing in developed properties. These are a few factors that make land an attractive investment.
Bangalore is the best option if you want to invest in land in Karnataka.
