Luxury Real Estate Growing in Hebbal

Hebbal once considered as a far flung area in north Bangalore is slowly emerging as a hub for luxury real estate in the city suburb. Hebbal Lake offers a scenic view for these luxury apartments and villas in Hebbal. There is an estimated 2000 residential units in this area alone. What is an interesting factor is that all these housing units are all have premium pricing. All villas and apartments in Hebbal are priced on an average of INR 1 to 2.5 crore range. One might wonder, why individuals would invest in properties with such premium pricing in the city suburbs that too.

"In the Hebbal micro-market, availability is low in the Rs 60- to Rs 90-lakh segment, and the new products being launched are in the higher price segment of above Rs 1 crore," says Karun Varma, MD of Jones Lang LaSalle India said to Times of India. This is because the area is one of the most developed areas in terms of social and physical infrastructure in suburban Bangalore. A point to be noted is that, these areas show that the property owners are mostly second home owners. The ones who already have a property in the city, are looking to invest in Hebbal for reasonable residential returns and also in terms of future and relocating to much more peaceful and less crowded area. The Bangalore city as much is very crowded today and commute has also become a mammoth task for daily office goers. The residents who need a respite once they retire have considered to invest in villas in Hebbal.

In Hebbal you can see major developments in 2 important sections. Firstly in and around the Manyata Embassy Business Park and secondly on the Bellary Road starting from the Hebbal Lake. Many hub this stretch as the new MG Road of suburban Bangalore. The home buyers have also seen to be investing in this suburban area with confidence is because of the steadfastness of builders. Most projects are ahead of their schedule sticking to their delivery timeline. Social infrastructure in the area is also top notch with good schools, colleges, hospitals and entertainment units in Hebbal. Hebbal skyline is sure to see some luxury townships and uber luxury residences.

"There is a shortage of high-end space within the city limits, and here you have a destination that's 15 to 20 minutes away from the city center and has land available," adds Jitendra Virwani, CMD, Embassy Group to TOI. The average price of villas and apartments in Hebbal today are in the range of INR 6000 to 8000 per square feet. Close proximity to the airport is another reason for such rampant development in Hebbal. The market is well balanced, and home owners and investors both strike a happy balance in this particular micro market. Not only the residents of Bangalore, but the ones from other metros like Mumbai and Kolkata have seen investing in this part of Bangalore. This is definitely a good time to invest in Hebbal.

Ranjitha is a freelance writer and blogger, following the Houses for sale in Bangalore and real estate sector closely for many years.