Why you Should Invest in Apartments in Rajarajeshwari Nagar

Rajarajeshwari Nagar is a micro market which is located in the south western part of Bangalore city. The locality which is also referred to as RR Nagar, lies in close proximity to areas such as Banashankari, Rajaji Nagar, Kengeri, Uttarahalli, and Bommanahalli. The area gets its name from a temple that was built in this locality during the 1960s. Besides this temple another landmark for this locality is the Bangalore University which is within a throwing distance from this micro market.

The area lies in close proximity to Mysore.. The area is also well connected to most parts of Bangalore and Mysore through major connectors such as Mysore Road, NICE Road, Uttarahalli Road, and the Outer Ring Road. Hence buyers from Bangalore and Mysore prefer to purchase a property in Rajarajeshwarinagar.

Here is a comparison of prices for flats in the three localities of Rajarajeshwarinagar, Kengeri and Banashankari. Apartments in Rajarajeshwari Nagar are presently priced at INR 3500 per square feet on average. In Banashankari the average asking price for flats stands at INR 6600 per square feet on average. In Kengeri the going rate for this property type is at INR 3400 per sq ft on average. Going by the pricing flats in Banashankari are the most expensive while those in Kengeri are the least expensive. Apartments in Rajarajeshwari Nagar are placed in the middle of these two localities in terms of pricing.

Villas in Banashankari are the most expensive among these three localities. This property type is priced at INR 16900 per square feet on average. Kengeri comes in second at INR 6000 per sq ft on average. Villas in RR Nagar are the least expensive at INR 5800 per sq ft on average.

A property in Rajarajeshwari Nagar which is a 3 BHK apartment is popular among property seekers. 2 BHKs come in second as far as buyer preference is concerned in this micro market. Flats which are sized between 1001 and 1250 square feet are most sought after among buyers here. This is followed by the 1251 to 1500 sq ft range. Buyers want to spend anywhere between INR 30 to 40 lakhs on flats here. This is followed by the INR 40 to 50 lakhs range. Per square feet buyers are willing to spend INR 3001 to 3500 on properties here. This is followed by the INR 2501 to 3000 per sq ft range.

There is great demand for plots in this micro market. Plots here can be priced anywhere between INR 4300 to 5800 per square feet on average. The rental rates for apartments here stands at INR 16 per square feet. Independent homes can fetch a rent of INR 14 per sq ft. Besides being a hub for residential properties, the area is also a commercial real estate hub. Office spaces here can fetch a rent of INR 32 per sq ft. With improvements in infrastructure such as metro rail connectivity the going rate for properties here is set to only increase further.

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