Reasons Why Rajarajeshwari Nagar In Bengaluru Is An Upcoming Real Estate Market
Strategically located along the busy Mysore Road, RR Nagar is close to the southern part of Bengaluru. The Halagevaderahalli Lake, beautiful landscapes and the famous temple of RR Nagar make this a comfortable locality. Moreover, many IT companies are coming up in Bengaluru. This leads to rising demand for apartments in Rajarajeshwari Nagar.
PropGuide lists some of the factors that make Rajarajeshwari Nagar in Bengaluru an upcoming real estate market.
IT Companies
Many IT companies have been coming up in this locality. Global Village Tech Park is located at a distance of 4 kilometres from RR Nagar. It houses well-known software companies such as Larsen & Toubro and Falcon Tyres, Infosys, Wipro, MindTree, Magnasoft Consulting India Ltd, Sonata Software and Texas Instruments. This has led to rising demand for apartments in Rajarajeshwari Nagar.
Good Transportation Facilities
Rajarajeshwari Nagar is strategically located at a distance of four kilometres from the Bangalore–Mysore Infrastructure Corridor (BMIC) , also known as NICE Road. This road makes commuting easier, between two main cities such as Bengaluru and Mysore. Itamadu main road boosts connectivity in this area. The locality is close to Kempegowda International Airport, and is at a distance of 8 km from the railway station. Jnanabharati railway station and Kengeri railway stations are close to Rajarajeshwari Nagar. Moreover, metro rail is coming up. The proposed four-lane road construction towards National Highway (NH-7) and National Highway (NH-4) will make the case even better. This has led to an increased demand for apartments in Rajarajeshwari Nagar.
An Investment Option with Good Returns
Rajarajeshwari Nagar turns out to be a great option, and is witnessing a rise in property prices. In January 2016, average property prices in Rajarajeshwari Nagar were Rs 3, 902 per square foot. Prices rose to Rs 4, 021 per square foot in August 2016. In the past 41 months, property prices saw a rise of 16.2 per cent. Good returns on investment attract investors to Rajarajeshwari Nagar. As a result, the demand for apartments and plots in Rajarajeshwari Nagar is rising.
Real Estate in Rajarajeshwari Nagar
Rajarajeshwari Nagar is attracting more and more working professionals from Bengaluru and Mysore. Some of the developers in Rajarajeshwari Nagar are Vajra Constructions, Pyramid Developers, MSK Shelters, MAX Properties, and Dreamz Infra. There are around 25 ongoing projects in Rajarajeshwari Nagar. Nine projects will be offered for possession by 2014. The average price in Rajarajeshwari Nagar is Rs 3,659 per sq ft. The lowest price in Rajarajeshwari Nagar is Rs 3,394 per sq ft, and the highest price is Rs 3,925 per sq ft. The total number of projects in Rajarajeshwari Nagar are 117.