Enhanced Metro connectivity and proximity to the airport is expected to impact property prices and home rents in North Bengaluru. Real estate experts favour buying a residential property over renting one in the northern parts of Bengaluru provided one has a certain corpus accumulated to pay upfront as the down payment. Experts anticipate an average property price appreciation of 10-15% annually over the next five years in this part of the IT capital.
“Residential properties are still relatively affordable there, which is why it is the right time to invest in North Bengaluru,” said Kiran Kumar, a Bengaluru-based real estate consultant. According to local brokers, 2 BHK units in Grade A projects are currently available in the ₹ 70 lakh - 1 crore bracket. Meanwhile a 3 BHK property costs between ₹ 1 - 1.
25 crore. Luxury properties are priced over ₹ 1.5 crore.
With substantial real estate supply expected to come into North Bengaluru in a few years, property prices will appreciate further, Kumar said. He anticipates home rents to easily shoot up by 20% in the next 2 years. Also Read: Green light for Phase 3 of Bengaluru Metro Rail Project likely to boost property prices by over 30%, say experts Some key reasons cited for the anticipated surge in property prices and home rents include upcoming metro connectivity, rising number of commercial real estate projects, proximity to the airport, and so on.
Phase 3 of the Bangalore Metro Rail Project, greenlighted earlier this yea.