Have A Budget Of Rs 40-80 Lakh? Invest In These Areas In Bengaluru
Bengaluru, also known as the Silicon Valley of India, offers a range of homes for investors as well as home-seekers across price ranges. Unlike other cities of similar size and growth, Pune in Maharashtra for example, the Karnataka capital offers homes at lower ranges, mainly due to rapid emergence of new townships and expansion of the city limits.Here are a few areas to scout for a property, if your budget lies between Rs 40-80 lakh. You need not compromise on the size of the home within this budget in Bengaluru, as you will find a good supply of 2BHK homes in your range.
Haralur RoadKnown as the hottest area of Bengaluru east, Haralur Road is known for its new developments. About eight km from the famous Electronic city, this area is known for its international schools such as Cambridge International Education Schools and Vibgyor High. Though it has a number of villa and luxury projects, Haralur Road also has many options for budget residence. Splendid Elite, for example, is a high-rise project that has 2BHK apartments in Haralur Road at Rs 45 lakh and 3BHK at Rs 55 lakh. Prestige Ferns Residency is yet another project that has large 2BHKs apartments for Rs 68 lakhs and smaller 3BHKs for Rs 66 lakh.
OMBR layoutClose to Banaswadi in Bengaluru's northeast, OMBR is gaining in prominence for its location as well as new developments. Many high-rises have come up in this area due to its proximity with the city's information technology (IT) hubs. The expansion of the Outer Ring Road has brought it closer to the city, and turned this old residential location into a preferred one. The area, too, has options for buyers, looking for bigger homes for less. Falcon Royal Homes, for example, has a project with 2BHK and 3BHK apartment in OMBR layout that cost between Rs 57 lakh and Rs 65 lakh. Vijaya Enclave, too, has 2BHKs for Rs 63 lakh, approximately. Sree Reddy Royal is another building that has 2BHK and 3BHK apartments that cost between Rs 62 lakh and Rs 72 lakh.
K R PuramAlso called Krishnarajapuram, this is an old region that has many recent and new real estate developments. The legacy buildings and areas, however, did not allow property prices to appreciate to unaffordable levels. K R Puram has high-livability index, being a well-known market area. The area and the developments are designed for middle-class home buyers. It has numerous projects such as Sree Padam Nivas, M V B Rachna, Venkat Windsor East, Prakruti Enclave and Dwaraka Trinity Residency, with 2BHK and 3BHK apartments, ranging from Rs 32 lakh to Rs 58 lakh. The area also has a huge supply of ready for possession property in K R Puram, along with a number of second-hand properties that are up for sale.
Bannerghatta RoadThis posh locality has addresses for many IT companies as well as educational institutions, including Indian Institute of Management (IIM) -Bangalore. Bengaluru's famous national park is also close by this area. The state highway area also stands to benefit from the increased connectivity after Phase-II of the metro is constructed. There are many affordable residential projects in Bannerghatta Road. 2BHK and 3BHK flats in Suvrith Soprano range between Rs 31 lakh to Rs 43 lakh. Sumukha Sankalpa is another project that has homes that cost between Rs 40 lakh to Rs 48 lakh. MBR Scrapple and D S Max Saanjh, too, have homes that are priced in this range.
(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)