Different Price Brackets for a 2 BHK Property in Bangalore

While the other cities in India have submitted themselves to extortionate prices, and the real estate there is witnessing a slump, property in Bangalore is going all fit and fine. The realty growth, in the city, is going steadily upwards. The market is predicted to be fruitful for both the end-users as well as investors, who are eying on long-term investments in this electronic city. The prices, as per current scenario, are seeing good appreciation, that will pave the way for assured returns. A few localities where prices have escalated in the quarter Jul-Sept are Bannerghatta Road, C.V. Raman, Cokes Town, Frazer Town, Hebbal, Hosur Road, JP Nagar, K R Puram, Kalyan Nagar, Kasturi Nagar, Mathekere, and Old Airport Road.

The residential properties in Bangalore cater to all the segments of society;be it budget buyers or elite segment of the society, the city has something for everyone. Some of the localities that have seen an upsurge in rates in the localities like Thanisandra Road, Hennur Road, Bannerghatta Road, Marathalli, and Whitefield and areas around ORR(Outer Ring Road). Some of the major developers like Zuari, Infraworld India, and GR Construction have floated new projects in the city.

As far as the prices are concerned, there are a plethora of options available. For a 2 BHK house below 10 lac range, the localities like Whitefield, Munnekalolu, and Atibelle are the best options. For higher range, i.e. from 10 lacs and 20 lacs, a buyer can look for localities like Whitefield, Atibele, Electronic City, Begur Road, Hosur Road, Bannerghatta Road, Off Magadi Road, Mysore Road, Vidharanyapuram, Bera Kai, Silk Road, Vidyamagar can be the good choices. For those who are on the look out for Bangalore property for higher rates, the residential properties in Hebbal, HSR Layout, Koeramangla, Jayanagar, Banaswadi, RT Nagar, Yelahanka, ISRO Layout, and Horamvu are the most sought-after options. In most of these areas, the rates for a 2 BHK can go as high as 1 crore or above.

Though the overall situation is fine, yet there are several areas in Bangalore where price rates have depreciated in the current quarter. A few examples of such localities are Begur Road, Gottigere, Hoodi Village, Jalhalli, Koramnagla, Thanisandra, Silk Board, and areas around off Tumkur Road. The buyers have made good use of the opportunity, and this has led to an appreciation in the demand in these areas. This can be seen in the increase in the number of sales.

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Bangalore Properties: Price Trends for a Single Room House for Rent

There is no dearth of demand for rental house in Bangalore, thanks to the efficient infrastructure, fair commutation facilities, and a well-established IT sector. The northern, southern and eastern parts of the city have a plethora of single-room rental properties. In terms of prices, there are too many options, though the rates are almost the same in different regions.

A house for rent in Bangalore in the city center is available between the range 4k-12k. The most preferred localities in this part are Frazer Town, Cox Town, and Indiranagar. While the monthly rentals in the later two are somewhere around 3-4k. In Frazer Town, an 800 sq. ft. ,single-room BHK can be hired at around 12-15k, along with a deposit of one lakh. Then we come to West Chennai,where the tenants would be able to get hold of affordable properties. The rates in localities like Vijay Nagar, Basaveshwaranagar, Madalpalya, RPC Layout lie between 5k and 8k, though the lesser prices too in these areas are also available.

The real estate Bangalore in West, North, and South has flourished well in terms of rental properties. The eastern region, where there are fully-developed localities like C.V. Raman, Marathahalli, GM Palaya, Doddanakunte, and KR Puram, the rental rates for a 1 BHK varies anywhere between 5k and 13k. A 600 sq. ft. ,single-room flat at Kundanahalli can cost you around 12-13k. The low-cost localities are Rammurthi, AECS, Whitefield, Old Airport Road, and Kodihalli.

Major localities of South including Jayanagar, Koramangla, Giri Nagar, Padmanabha, BTM Layoiut, Atibele, JP Nagar, and Electronic City. In this particular region , the demand for a house for rent in Bangalore is pretty high: most of the areas have a strong foothold over IT and industrial sector. Depending upon a particular locality, the range can go anywhere between 4k and 15k, though these values are flexible.

IT Industry: The Driving Force behind Bangalore Real Estate

Ever took part in property discussions? And if they are centered around Bangalore, it is almost impossible that people won't talk about IT industry. Isn't it? If I am not exaggerating, Bangalore property and IT are connected so closely and are so interwoven that the growth of one directly effects the other. More the information technology proliferates, more positively it helps the realty market there. The vice versa is also true. Being awarded as top 8 technology clusters in the world, the city rides high on the software market. The demand for properties of all types in the many localities of the city is more or less comes from the professional class working in software industry.
South Bangalore needs a special mention in the context we are talking about. IT has burgeoned here on a grand scale. Look at Koramangla, one of the major hubs for IT/ITeS based companies. Software giants like Infosys, Siemens, Zenith, and Wipro have centers here. The demand for flats Bangalore, in this particular locality, comes from the software and technology professionals. As majority of this community prefers to settle around their office premises, the price rates for residential spaces are high here. A 2 BHK flat can cost you anywhere between 35k and 1.5 crores.

Another area that rides high on IT industry is Whitefield. Laced with excellent infrastructure and superb connectivity, this locality of Bangalore real estate has seen several technology parks sprung up in and around it. ITBP(International Business Tech Park) houses several information technology giants. Companies like Accenture, TESCO, Wipro, Dell, Sapient, Sap Labs, IBM , and Intel found their stronghold in this locality.
Spread on a land of more than 300 acres, Electronic City, is studded with top-class infrastructure and has gained popularity as one of the largest electronic industrial parks in India. The place houses more than 180 software companies and boasts of having the longest national highway of the country. It is responsible for deriving a major portion of demand for residential properties in Bangalore. Companies like C-Dot, HP, GE, iGate Global, Tech Mahindra have their establishments in the Electronic city. Surprisingly, the rate of apartments is not very high here. A 2 BHK apartment can cost you anywhere around 35-45lacs.

Bangalore Real Estate sees a Dip after Revision in Guidance Values

The year 2011 saw a rise in guidance values of Bangalore properties and in order to keep them in sync with the sharply rising market values, they have again been raised this August. The values have been raised in almost all the districts of Karnataka and almost all of them have seen an appreciation of about 25%. The boom in population and large influx of people from the other states made the authorities increase the value of Bangalore real estate. In Bangalore alone, the guideline value has been increased by 40-45%.

It would be mandatory for an owner to state the guidance value of his property at the set value or higher than that. Those who refuse and declare the lesser value, shall be issued notice by the district registrar, who would then decide the correct value. This would bring more transparency to Bangalore real estate. As the values this year have been set more closer to market values, the revenue earned by the government in terms of stamp duty and registration fee is expected to bring more profits.

The change in the values is expected to garner huge revenues for the Karnataka government. A collection in crores from the registration fee and the stamp duty has already been made. In the months to come, more revenues are in the offing. The revenue has also been levied on properties like villas and apartments. The new rates came into effect on August 12 and since then the interest of buyers in apartments for sale in Bangalore has seen a dip. Such was the impact of the news that the registrations reached almost a zero level in areas like Kanakapura and Devnahalli. And just when the news of new rules was made public, a huge rush was seen for registration of properties. Before the guideline vales could come into effect, objections were requested from several sources, including the State government.

Makaan.com, the fastest growing property portal in India, lists residential properties in Bangalore for sell, rent and buy. The spaces like single rooms, apartments, bungalows, villas, offices, and shops are made available from eminent developers, agents, and owners. Get your properties listed, place ads for them, or specify your exact requirements. Be part of the forums and get advice on property matters. Get fine-tuned results by choosing properties based on different criteria like price, location, age and type.

What are the Options to buy a Property in Bangalore West?

If it is a house in Bangalore that you have been looking for, I am sure most of the suggestions to you must have come in favor of localities like Kanakpura Road, Electronic City, Whitefield, or Hebbal. Isn't it? Make a search over net and you will see that it is either the southern/northern or the central regions that are mostly highlighted. The price rates in the localities covered under these regions are quiet high. For budget buyers, property in West Bangalore can be a good option. In fact, the western region offers residential properties that cater to almost all the income groups. Let's elaborate a little and know about what is in store for a buyer here.

Before we talk about the specific localities, let's see what is the ongoing price/sq. ft(psf rate) for the entire West Bangalore region. This August, the psf rate is calculated as Rs. 3140/-. In 2012, in the same month, this value was recorded at Rs. 2861/ sq. ft. This appreciation shows that the property in Bangalore West has boosted over last one year.

Next come the prices for individual localities. The price rates for a 2 BHK in localities like Jalahalli, Nagarabhavi, Bidadi, Tumkur Road, Vidyaranga, Sunkadakatte, Govindraj Nagar, and Peenya, the rates vary within the range of 25-33 lacs. Though the region still has to see a lot in terms of industrialization, there are several areas that have progressed at a good pace. Kengeri, for example, is a well-known satellite town of the Western Bangalore Real Estate market. It has good connectivity to its nearby localities. Namma Metro Corridor is proposed to be extended up to here; this will further help people to commute to and from here. The other highlights of Kengeri include its closeness to Outer Ring Road and the presence of a Global Village Park.

Malleswaram is another gem for residential properties in Bangalore in the western region. A popular choice for affluent and upper-middle segment buyers, the locality has the strategical advantage of being close to World Trade Center. Another elite area is Rajajinagar. The property prices here are quiet high, as compared to the other localities. A 2 BHK flat, with an approximate 1000 sq. ft area, can cost you as high as 1 crore, though cheaper options are also available. The proposed Yeshwantpur-Rajajinagar-Malleswaram Corridor is going to further alleviate the property prices here. At Magadi and Ring Road too, the prices are high, though they also offer several budget options.

Search and locate residential and commercial properties to buy, sell or rent over premier real estate portal, Makaan.com. Choose from lacs of properties as advertised by leading builders, agents, and owners. Search on the basis of criteria like location, price, age & type of property.

Rent House in Bangalore: Important Things to Consider

Planned houses, good infrastructure and employment opportunities make the Electronic City, Bangalore, a much preferred place for property searcher. And as far as buying a rent house in Bangalore is concerned, it is going fairly well. In fact, investment of such a kind is already contributing significantly to the real estate market and state's economy. But before you lease your investment property, there are certain things that you should bear in mind.

 Location is one of the important considerations while renting a property. While rent house in Bangalore are concerned, they reap profits in accordance to the location they are situated in. Choosing a good locality that offers innumerable amenities in the form of parking lots, rain harvesting, gyms, parks, and 24-hour security shall attract more tenants, and the quality-seeking ones, for that matter. Looking at how the city has accommodated a huge chunk of IT professionals (who are paid handsomely), it is evident that the demand for top-class rentals in good localities would be always there.

 Another important point to keep in mind while renting out is the connectivity. Choose a locality that is comfortably connected via the available means of transportation. Choosing a remote location as a rent house in Bangalore is not going to get you many tenants, with the possibility that it may remain vacant for a long time duration. Go for the places lying at a comfortable distance from metro or bus stations. You can take the examples of Bangalore flats in Bellary Road and Hebbal. After they got connected with metro, the demand for property got a decent hike there.

 Don't fool around your tenants with any fake documents of your invested property. With more people getting acquainted with the regulatory laws of real estate, you could end up getting caught in the legal turmoil. Then there is another factor: condition of your rental house or commercial space. The tenants out on a search for flats for rent in Bangalore are majority of those who are too occupied with their jobs and have have no time/money to spend on repair or remodeling. Before renting out, make sure that the structure is in fine condition and does not maintenance too frequently.

 And now the last point but not the least one. Decide a fair price for Bangalore real estate; it should not be set too high and must be in conformity with the existing rates. Exorbitant prices can leave your rentals vacant for long times. You may be prompted to lower the rates after a certain time, thus making a bad impression on the tenants.

 Makaan.com, India's fastest growing property website, lists residential and commercial spaces for buying and renting. The properties from renowned developers, land owners, and dealers are advertised here to be searched by the people having different requirements.

Owning a House in Bangalore:What Should You Keep in Mind?

The Silicon City Bangalore, known for its rapid growth rate of 10.3%, is a home to some of the super rich and millionaires. Having seen a tremendous boom in Information Technology (IT) and electronic goods since Independence, the city ranks among the top 10 entrepreneurial spots all around the globe. So, it is not hard to see why the place has become one of the most desired locations for investment in terms of real estate. Buying a house in such a city remains a distant dream for many. The buyers from upper strata in terms of per capita income can make their dream come true, provided they invest properly and keep a note of few things.

To buy a house in Bangalore, you need to have a decent knowledge of the preferred locality as well as the current market trends. It would, no doubt, be a huge investment on your part and you cannot take it as a piece of cake. Though enough information is available over net, you need to do go a step further by interacting with owners of houses already residing in that locality and by watching market trends over a period of time to get into the skin of the things.

Knowledge of how things work in real estate business in this city, or anywhere else, for that matter, is something that can help you immensely in buying flats in Bangalore. Go for the leading developers instead of local players in the market. The renowned builders are backed by trust, reputation and are better at getting you what you want. On contrast, you may end up being a victim of hoodwinking and compromised quality if you try saving money by choosing local dealers.

Being a little informed about property prices and their fluctuations over time can be rewarding. As the city has a lot to offer to those who are looking forward to luxury in terms of houses and villas in Bangalore, it is important to understand that a property price offered by one dealer may not be the best for you. They may try duping you by overcharging, so when looking for ads on flatsfor sale in Bangalore, try watching similar ads by other developers too.

Choose localities that provide best amenities are have good road & rail connectivities. Buying a house in the areas like Jayanagar, Indiranagar, JP Nagar, Sarjapur, Electronic City, Whitefield, Horamavu, Hennur road, Begur road, Hebbal, and Uttarahalli can be the best for you if you are keeping luxury as the top priority. Some of the prominent projects can be seen coming here in future, with plethora of houses rendering mod cons already developed. You may like to know that price per square feet has gone up by about 6% in past twelve months. The current psf value in July, 2013,is Rs. 3787 per sq. ft. The minimum price that you can expect of buying a housein Bangalore is around 5-6 lacs. And maximum can go in crores. Decide your budget and be very specific about what you are looking for.

For getting informed about the available flats for sale in Bangalore, visit the real estate portal Makaan.com, India's fastest growing property website.