Livability A Question Even As Property Prices Pick Up In Bellandur

Bellandur is among the popular residential markets in Bengaluru with some of the reputed real estate players in the country building here. Residential real estate in Bellandur has also been fairly stable and competes with other prominent markets such as Whitefield, KR Puram and Thanisandra. Last year, demand in terms of searches conducted by prospective homebuyers accounted for seven per cent of the overall demand in the Bengaluru residential market, data by PropTiger.com indicated.

However, the Bellandur Lake and its present condition is a clear case of Bengaluru’s struggle with waste management. The problem has already gone out of hand as the lake spills toxic foam and while the National Green Tribunal (NGT) has taken cognizance and ordered polluting industries in the vicinity to shut down, for the property market to thrive, not enough has been done to ensure livability.

Here is all you need to know about the area:

Steady price appreciation

The price trends are healthy. If we look at capital values in April 2013, prices were at Rs 4,835 per square foot (sq ft) . By March 2017, values have escalated to Rs 5,640 per sqft. February 2018 saw prices jump to Rs 5,900 per sq ft on an average. Given the popularity of this location, which is along the Outer Ring Road (ORR) , further price appreciation is on cards for properties in this area.

Projects mix

Owing to its popularity, real estate developers have forayed into the market with projects fitting everybody's bill. If you are looking for affordable projects, you can find them in the price range of Rs 15 lakh to Rs 40 lakh, mostly 1 and 2BHK units. If you are looking at new projects, many projects will be ready for possession between December 2018 and May 2020.

In the luxury housing segment, some of the reputed players have come up with projects priced between Rs 1.5- 7 crore, mostly 3,4 and 5BHK units. Some of the high-end projects boast amenities such as clubhouses, multipurpose rooms, swimming pools, gymnasiums, children’s playground, round the clock security,  modular kitchens, furnishing, shopping malls and salon services within the society.

Choose from a range of residential developments in Bellandur.

Close to work

With numerous business districts in the vicinity, Bellandur manages to garner almost 84 per cent end-user interest and 16 per cent investor interest as per a latest study by PropTiger. Working professionals throng to this place and many in the lookout to be in the vicinity of their workspaces opt for rental options in the area. Some of the big names operating out of the area include Sonata Software, MindTree, Texas Instrument, Magnasoft Consulting India Ltd, Textron, Mphasis, Crompton Greaves and NTT Data. Besides, connectivity to areas such as KR Puram and Whitefield makes Bellandur promising.

Rental returns

If you are keen on Bellandur as an investor, rental returns are attractive and it makes sense to invest here. Properties on rent command anywhere between Rs 12,000-Rs 2.8 lakh per month. Apartments, independent houses, villas are in abundance. View the entire list here.

The size range of these homes vary between 900-4,500 sq ft.

A word of caution

While the locality does promise you healthy appreciation, pollution around the Bellandur Lake is a pressing problem. While the Bangalore Developmental Authority (BDA) has been involved in de-weeding the lake, other aspects are also being looked into. However, this will be time taking. Harvesters are being procured, industries emitting harmful chemicals are being moved out while government bodies are considering ways to check the inflow of untreated waste from Ejipura, Agara, Challaghatta and Iblur drain.

The Bellandur Lake has been known to spill toxic foam every now and then. Last year, the NGT had directed 76 polluting industries near the lake to shut down. Recently, the NGT had also sought a status report from the Karnataka government on reviving the lakes – Bellandur, Agara and Varthur – all of which are polluted. However, the green body is not happy with the government’s report and has formed a Commission comprising of a senior advocate, experts from IISc and officials from civic agencies Central Pollution Control Board and Bangalore Development Authority to inspect and work on a strategy to revive these. The inspection will be carried out on April 14 and 15 while the NGT Bench will hear the report on the same on May 11, 2018.