Looking For Property In East Bengaluru? Head To Panathur-Varthur
If you are looking at investment options in East Bengaluru, here is a real estate guide for you. First, the eastern and northern zones in the city are expected to see better growth as compared to West Bengaluru and South Bengaluru. Second, lower property prices are expected to pull in prospective home buyers. A potential investment destination, Panathur to Varthur is an established real estate market that you may wish to put your money in.
Here's why we think this could be a good bet.
Consider an investment in areas close to this stretch. Whitefield, for instance, is an attractive option for many but the average price is Rs 5,000 per sqft. Bellandur is another great option but here again the prices are soaring at about Rs 5,700 per sq ft on an average. Marathahalli is higher and makes it a costly real estate market with prices standing at Rs 5,800 per sqft. While Sarjapur gives you the benefit of affordable properties, the demand for properties has led to an increase in price and is at Rs 4,000 per sqft. Depending on the amenities and exact location of a unit, prices may vary further in these areas. Now, if you want to stay close to these locations, shift your attention to the Panathur-Varthur belt.
Let's look at the advantage on a comparative basis. Here's what you would be paying if you are looking at a 2BHK, 3BHK or a 4BHK apartment. (Refer graph)
Locality | 1BHK | 2BHK | 3BHK | 4BHK |
Rs 35 lakh | Rs 50 lakh | Rs 90 lakh | Rs 2.80 crore | |
Rs 31 lakh | Rs 50 lakh | Rs 86 lakh | Rs 5 crore | |
Rs 31 lakh | Rs 62 lakh | Rs 1.12 crore | Rs 1.95 crore | |
Rs 27 lakh | Rs 42 lakh | Rs 80 lakh | Rs 1.80 crore | |
Rs 30 lakh | Rs 45 lakh | Rs 67 lakh | Rs 2.26 crore |
When compared to Sarjapur Road, Varthur might look expensive. However, given the development cycle each of them is in, the latter might be a better pick.
Does Panathur-Varthur ensure a comfortable stay?
Panathur-Varthur is accessible through both Marathahalli, ORR and Whitefield. This also makes sure that IT/ITes employees placed anywhere in the vicinity have the advantage of living close to their office spaces. The area boasts some of the popular tech parks such as Prestige Ozone, International Tech Park HUL Research Centre, RMZ Ecoworld, Pritech IT Park, Cessna Business Park and Embassy Tech Village within an area of 10 kms. Besides, retail chains, entertainment as well as educational hubs and a string of medical outlets make the locality self-sufficient. However, the international airport lies about 50 km from this stretch but Bangaloreans are living with it. The fact that this stretch opens up as an employment avenue for over three lakh working professionals is proof enough that the locality has potential that makes it almost an investor's paradise. Besides, the Metro rail connectivity from Baiyyappanahalli to Whitefield has already progressed. Therefore, Kundanahalli would be the nearest to Panathur. Also, expect the East-West corridor to connect the eastern part of Bengaluru to the western part.
In future, the Peripheral Ring Road project may give you some more reason to be happy but only after 2020.
But, there are certain concerns, too.
The Varthur Lake has caused immense trouble in the recent times. Garbage dumping led to frothing and foaming in the lake in May 2017.
Despite the flaw, Varthur clocked in over 30 per cent price growth in the last two-and-a-half years. The demand for residential space is expected to grow with more and more getting concentrated in the region.