Buying a Home in Bangalore by next Six Months will Make you Lucrative

Bangalore has witnessed two remarkable market movements in Bangalore's real estate market during the 1st quarter of 2015, which include an increase in the handover of residential units as well as a rise in new project launches.

In the first quarter of 2014, the newly launched units were 11,170. Now, in 1Q 2015, the total number of new launches in 13,400 units. On the other end, the net absorption rate increased to 8,310 units in the 1Q 2015 when compared to last year's count of 7,210 units. Therefore, the total sales have been increasing 15% year over year (y-o-y).

The capital appreciation of the properties in Bangalore has increased remarkably. The major areas that witnessed higher property appreciation include Kanakapura Road (3.4%), Whitefield (3.7%) and Hosur Road (4.3%). In recent times, the areas that are observing an enormous range of residential project developments include Bannerghatta road in the south, Kanakapura Road, Hosur Road, Whitefield (West), and JP Nagar. Particularly, Whitefield grasps more attention owing to increased investors and lot of end-user activity. And, all the other areas that are mentioned above are popular only among the home buyers.

The areas like Kanakapura Road and JP Nagar are witnessing a great residential demand due to the upcoming metro line project. As a result of increased residential demand, the property prices in Whitefield have reached Rs 8,100/sq ft. However, the areas like Sarjapur and Hosur Road remain as the best destination for buying budget homes with prices below Rs.5000/ sq ft.

The demand is catching up in the areas of North Bangalore, as they have an advantage of close proximity to the airport. Besides, the development of special economic zones (SEZs) and IT parks has certainly increased the residential demand. Thus, North Bangalore is witnessing more number of new housing project launches. Especially, Hebbal is the areas that attract more home buyers due to its IT parks. Also, the demand is high in the areas like Jakkur, Thanisandara, Nagavara and Bellary Road, as they are located close to Airport.

However, the high price factor in North makes the home buyers to prefer eastern and souther areas of Bangalore. According to the sources, the price of residential property in Bellary Road is now at Rs 5,777/sq ft.

Being a major junction of the city, Yeshwantpur and Rajaji Nagar witnessing launches of more high-end and luxury-segment projects. The price of the properties located in these areas is ranging from 70 lakhs to 15 crores.

Alongside, Sadashivnagar is the another posh area that is located in the heart of the city. Advice for the Property Investors If you are a home seeker who is looking to buy a property in Bangalore by six months from now on, it's the best time to invest. As Bangalore's residential real estate market is very stable at the moment, the property investors can earn good ROI for short-term as well as medium-term investments.

Mysore Road will be an ideal choice for the home buyers who prefer budget homes. The price range of the properties here is ranging from Rs 3,050/sq ft-4,500/sq ft. The property investors who look for villa type residential projects in Bangalore can choose Whitefield as the good option.