The Price Variation of Three-room Flats for Rent in the City of Bangalore

The residential properties in Bangalore are still undervalued if compared to other tier -I cities in India. Though the city excels in IT sector and has a good demand for residential and commercial properties, the city's realty prices are still not competitive enough. Bangalore is basically a buyer-driven city rather than that investor-driven. The rental rates too have not increased over years. Let's see what a 3 BHK flat costs in different localities of this electronic city.

Three-room flats for rent in Bangalore in the northern localities generally fall in 15k-60k price bracket. The starting prices at Hebbal, HBR Layout, Sanjay Nagar, and Yelahanka mostly stand at around 15-18k. AT RMV, Banaswadi, Jakkur, the starting prices are a bit higher: they are centered around 20k per month. RT Nagar, RMV, and Yelahanka have flats that can cost you somewhere near 40-80K. Let's compare it with South Bangalore locations. As southern part mainly comprises of IT-driven colonies, the demand for properties, and their rate are higher. At HSR Layout, you can find a 3 BHK in a broad range of 22k-1lakh.

Koramanagla is another plush locality of South Bangalore that carries high prices. A three-room flats here comes in 24-70k bracket. Other prime localities like JP Nagar, Bannerghatta Road, Kanakapura Road, Jayanagar, Electronic City, and BTM carry high price segments. At Banaswadi, BTM Layout, Jayanagar, the upper limit is usually centered around 40k.

Prices of real estate in Bangalore in central part are highest if compared to other areas. The rate for 3 BHK residential properties here starts from around 30k. A few of such localities are Ulsoor, St. John Road, Richmond Road, Benson Town, Frazer Town, Vasanthnagar. At Richmond Road, Levelle Road, Cubbon Road, Queens Road, and Commercial Street, you will find three-room flats at the starting rate of 40-50k. Higher rates are prevalent in Cambridge Layout, Cunningham Road, MG Road, Coles Road, Aga Abbas Ali Road, and Palace Road: for a 3 BHK, expect the prices up to 90k to 1 lac per month.

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The Highest Private Equity Investment to Boost Bangalore Real Estate

Within the first three quarters, i.e. Q1-Q3, 2013, the city of Bangalore has earned name for being the city with largest amount of Privet Equity(PE) investment. The real estate properties as pricey has Rs. 2000 crore were leased in the city during this time-period. The research form Cushman & Wakefield has declared that the entrepreneurs' interest in putting the commercial properties on lease was the subject of major interest. The rate at which PE got a raise in Jan-Sep quarter was a whopping 79%, as compared to the corresponding quarter in 2012.

Realestate in Bangalore has made a tremendous growth with IT sector as the biggest supporting factor. The presence of global as well as national software giants have attributed a lot to the take the realty market to the next level. The demand for residential properties in the city, as a result, pushed all the way up. Add to this is the congenial environment for manufacturing and business units, the flocking of expatriates in large numbers every year, and a high potential to burgeon as a reality hub, especially in South India.

According to the Managing Director, Cushman and Wakefield(South Asia), Mr. Sanjay Dutt, the relatively pared down prices for properties make Bangalore one of the most attractive destination, both for buyers as well as investors. Developers like Sobha Developers and Prestige Estates have invested massively in the city projects. Recently, Qatar Investment Authority has plunged into city's realty market. It has invested Rs. 1800 crore for a project of a reputed developer known as RMZ.

While the investment deals got a shot in the arm, a negative scenario has also come to the light. The city slipped in its rank from 19 last year to 20 this year in terms of top investment destinations. This negativity did have an impact on residential properties in Bangalore. The drop in ranking can be contributed to the cumulative effect of factors like slumped Indian economy, high inflationary rates, unhealthy politics, and insecurity for future. In spite of all this, the city is still ranks among the top 25 list of favorable investment places.

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Prices for 2 BHK Flats for Rent across Different Localities of Bangalore

Bangalore is sitting over a pile of unused or vacant properties. More than a lakh properties get leased every year in the Electronic City. In light of the fact that Indian economy is under an economic crisis, with rates of commodities gone through the roof, it is hard to expect that these inventories will see a good number of tenants. But the reality is something else. As they city's low and middle income groups thrive largely on rental properties, the demand for these remains on the higher side of the graph. To allure the tenants, the developers too have come out various plans like free-rental periods and cut rates. Presently, the propensity among the tenants is for small-sized residential properties.
Let us consider rental rates for 2 BHK realestate Bangalore properties in city center. The hot localities like Indira Nagar, Benson Town, and Sarjapur Road offer the starting rental rates in 12-18k range. The higher rental rates can be expected in Frazer Town, Cook Town, and Cunningham Road: the monthly rental in these localities start anywhere in 20-25k range. Some of the other localities where tenants will find high rentals include Langford Town, Brunton Road, Jayamahal and Coles Road. Queen Road and Levelle Road have high-end properties with rent ranging between 30-45k bracket.

Flats for rent in Bangalore in North carries some prominent localities that tenants mostly seek. The rents in this region is mostly affordable with rates as low as 7k. R.T. Nagar Yelahanka, Hebbal, Dollar's Colony, Thanisandra, and HMT Layout carry the monthly rentals between 7-25k. At Hebbal, however, two-room leased properties can cost up to 35k/month. Towards East, the affordable colonies for the tenants of 2 BHK apartments include names like Marathahalli, Whitefield, Banaswadi, CV Raman, Mahadevpura, Kundanhalli, and KR Puram: rentals in 8-12k range in most of these prominent localities. However, at Indira Nagar, AECS Layout, Whitefield, and Marathahalli, the upper limit can reach up to 25-45k.
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Real Estate Bangalore's Price Variations for a 2 BHK House for Rent

Every single year, Bangalore, the Electronic City, witnesses the leasing of about 1 lakh properties. At present, akin to other metros of India, this city is sitting on a pile of unused inventories; as the demand remains high, these inventories are expected to get used up in a few months. Currently, the slump of economy and high prices have plagued Indian's real estate. In spite of such a dim scenario, city's prospects seem to be good. The developers here are coming up with offers like rent-free months and cash discounts. Another trend that has been noticed here is increasing propensity of tenants for small ticket sizes.

Let us consider rental rates for 2 BHK real estate Bangalore properties in city center. The hot localities like Indira Nagar, Benson Town, and Sarjapur Road offer the starting rental rates in 12-18k range. The higher rental rates can be expected in Frazer Town, Cook Town, and Cunningham Road: the monthly rental in these localities start anywhere in 20-25k range. Some of the other localities where tenants will find high rentals include Langford Town, Brunton Road, Jayamahal and Coles Road. Queen Road and Levelle Road have high-end properties with rent ranging between 30-45k bracket.

 

House for rent in Bangalore in North carries some prominent localities that tenants mostly seek. The rents in this region is mostly affordable with rates as low as 7k. R.T. Nagar Yelahanka, Hebbal, Dollar's Colony, Thanisandra, and HMT Layout carry the monthly rentals between 7-25k. At Hebbal, however, two-room leased properties can cost up to 35k/month. Towards East, the affordable colonies for the tenants of 2 BHK apartments include names like Marathahalli, Whitefield, Banaswadi, CV Raman, Mahadevpura, Kundanhalli, and KR Puram: rentals in 8-12k range in most of these prominent localities. However, at Indira Nagar, AECS Layout, Whitefield, and Marathahalli, the upper limit can reach up to 25-45k.

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Bangalore Real Estate: Rates of Two Room Flats for Rent in Different Localities

The rental flats in Bangalore remain high on demand, irrespective of where the price trends are heading towards. A majority of population lives on such houses, thereby forming a large proportion. The steady influx of expatriates into the city also calls for the availability of rental properties. Presence of physical infrastructure, dominance in software market, and availability of employment opportunities are a few reasons why they flock to this city. To cater to their demand for housing, rental rooms come handy and affordable too. Let's have a look at the rental rates of 2 BHK properties available in city.

Flats for rent in Bangalore in the central region offers quiet a fewoptions for tenants. In micro-markets like Benson Town, Frazer Town, Cook town, Coles Road, Jayamahal, Majestic, and Ulsoor, the rental rates are available in the range 20-30k per month. Higher rates of rental properties can be expected in Vasanth Nagar, MG Road, Indira Nagar, Cunnigham Road, and Langford Town. I

 

Towards the eastern side, most of the two-room real estate in Bangalore are available in the rental range of 15-22k. The areas include Whitefield, Sarjapur Road, Kundanahalli, Hoodi Village, Marthahalli, Doddanakunte, Murugeshpalya, and Kasturi Nagar. The cheaper rental properties, in this particular region, can be expected at Mahadevpura, Varayanapura, Narayanapura and Sarjapur Road. A tenant can look for rental localities in North Bangalore with plentiful options at his hand. The rates for a 2 BHK varies between 6k-25k per month. The budget flats for rent can be expected at Doddabommasandra, RT Nagar, and Ganganagar: the rentals as low as 6k are available in these areas.

Talking of south, the rates here generally vary between 8k and 27k. Localities like Electronic City, BTM Layout, JP Nagar, and Bannerghata offer flexible options: variable rates are available in these areas, thus catering to the demand of all types of tenants. Koramangla, Jayanagar, HSR Layout are some of the costliest micro-markets that forms part of South Bangalore. And finally, we talk about the West Bangalore. At localities like Ullal, Basaveshwara Nagar, Nagarbhavi, Rajrajeshwaeri Nagar, RPC Layout, and Kengeri, the 2 BHK flats within the range 12-15k can be hired on rent.

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In Bangalore, Flats for Sale Garnering Attention of Investors and Property Buyers

As far as property investment is concerned, Bangalore stands out as one of the most preferable options by NRIs. Laced with good infrastrural facility, execellent connectivity to nearby states, and the considerable progress made by its micro-markets have rendered the city quiet dependable for investors. Plenteous of its localities have emerged as powerful micro-markets, thus giving the real estate a nice boost. Then, there is an 'all-powerful' IT market that has remained a major factor in augumenting city's realty progress. A majority of software giants have floated eminent projects here, thus awarding the city one of the most sought-after destinations for property buyers.

There is no denying to the fact that a whopping number of flats for sale in Bangalore are, at present, unsold. This number is more than last year’s unused number of inventories. But, it is also true that the real estate is burgeoning there at good pace. The city is dwelled by a huge number of expatriates who have sophisticated tastes, and prefer luxurious living spaces. So, a good percentage of demand comes from the high-end sector of city. With the increase in preference for top-notch residential spaces, more builders are now focusing on projects that cater to the needs of the affluent class. Whitefield, Outer Ring Road (ORR), and CBD (Central Business District) are the micro-markets where demand for such properties is quiet high.

For mid-segment and budget real estate Bangalore, Electronic City, Kanakpura Road, and Mysore Road have emerged as the leaders in demand. The low-cost flats in Bangalorehave become the target of developers like Nitesh Estates and Ozone Group. The two main factors that are responsible for an increase in this demand are development of Peripheral Ring Road and the upcoming Metro Link. With the escalation in demand, the property rates too have appreciated. The forthcoming projects like an Aerospace SEZ, International Airport, and Devanhalli Business Park have exacerbated the demand in North Bangalore.

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Infrastructural Developments Intend to Raise the Sale of Flats in Bangalore

Pick any real estate newspaper or go through some real estate website. On all of these, you shall find one thing common: a column dedicated to price rates, and in most of the cases, the prices are skyrocketing. Be it Delhi, Chennai, Gurgaon, or Mumbai, the realty prices have crossed all the possible limits. But as far as Bangalore properties is concerned, the reverse is true, at least the present scanario says so. The supply-demand ratio, that is going awry in most of the cites, is in proportion in Bangalore, thanks to the good consumption rate. The realty market is performing so well that its contribution to the overall GDP of the state has surpassed all other sectors.

The way city's infrastructural developments are about to change the face of the city is worth applauding. And these top-notch projects have become the rational behind buying apartments in Bangalore. Bangalore International Airport, the premium project, caught the fancy of both buyers as well as investors. Several integrated townships have sprung up in the vicinity. When the project comes to its completion, the area shall see a splurge of commercial properties like shops, malls, restaurants, and hotels.

The 1000-km Mumbai-Bangalore Industrial Corridor carries huge expectations in terms of Bangalore real estate market. The corridor shall open new vistas for colossal land parcels and integrated townships. Some of the projects have already been floated in localities surrounding Tumkur Road. Another premium project in line is Brigade Gateway Project. Encompassing an area of 40 acres, the gateway shall provide Grade A residential properties, especially focused on providing lavish lifestyle. Flats in Bangalore in the Gateway project shall benefit by better roads, luxury apartments, and excellent infrastructure.

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Why buy Bangalore Flats at Tumkur Road?

When it comes to buying a residential property in Bangalore, Whitefield, Jayanagar, and Electronic City come as the obvious choices, especially for IT professionals. But with the high-end infrastructural developments taking place over Tumkur Road, the buyers have now another fish to fry. More and more Bangalore flats are now springing up in Tumkur area The apartments here come at affordable rates and have the strategic advantage of having excellent connectivity.

Over the years, some of the top-class developers including Sobha, Brigade, and Prestige have ventured into developing state-of-the-art luxury houses in this area. Sobha developers' projects like Aspire, Habitech, and Forest View have already grabbed the attention of some long-term investors. Till now, 15-20 residential projects have made their way over Tumkur road. With the proposed relocation of Peenya Industrial Area to this location has further escalated the demands for apartments in Bangalore.

The much-awaited Bangalore-Mumbai Industrial Corridor(BMIC) in this area is expected to see the metamorphosis of Tumkur's residential and commercial development. It shall boost the socio-economic demographic of the area. The buyers of Bangalore real estate are going to benefit by the upcoming large industrial units like Reliance and ITC. Another feather to the cap of the Tumkur's infrastructural development is 111 km-long Bangalore-Mysore Infrastructure Corridor. As it is brought into actualization, it will reinforce residential, commercial, and industrial development in the area on a very large scale.

The much-awaited Bangalore-Mumbai Industrial Corridor(BMIC) in this area is expected to see the metamorphosis of Tumkur's residential and commercial development. With the availability of affordable housing, more long-term users are expected to buy property here. Another shot in the arm for the residential projects is expected to come from the proposed Metro Rail initiative. This shall beef up the connectivity of the area to other localities. Another thrust shall come in the form of Peripheral Ring Road, a link connecting Tumkur and Hosur Roads. The link shall bring into picture the intelligent transportation for the residents of property in Bangalore.

The expectations at Tumkur are high, in terms of real estate development. People from upper -middle and middle-class segments are showing interest into buying property here. With the availability of affordable housing, more long-term users are expected to buy property here.

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