Where Do The Traditionally Rich Bangaloreans Live?
The demand for luxury housing in Bengaluru, known as India's Silicon Valley, has been rising consistently. On the supply side, the market is full of enthusiastic developers who are always busy making new plans for launching new premium projects for the who's who of the city. However, emerging areas of the city have yet to get the attention of those who form a part of the city's billionaire club (names includes NR Narayana Murthy, K Dinesh, SD Shibulal, GM Rao, Nandan Nilekani, et.) For them, old is gold.
Sadashiva Nagar
Average price: Rs 25,500 per sqft
Smaller units in this locality are rare and property prices could range between Rs 3 crore to Rs 18 crore, depending on the size. There are mostly 3 or 4BHK units, data available with PropTiger.com show. On an average, you would need to shell out Rs 6.50 crore for a 3BHK unit and Rs 9.50 crore for a 4BHK unit.
Some of the well-known names who lived here include Basappa Danappa Jatti, former vice-president of India, Maharajkumari Meenakshi Devi Avaru, daughter of the last ruling Maharaja of Mysore and Raghavendra Rajkumar, Kannada actor and producer.
Project availability: There are over 20 ready-to-move projects in Sadashiva Nagar.
Rentals: Rs 40,000-Rs 2 lakh per month, depending on the amenities, size of the unit, age of the building, etc.
Malleswaram
Average price: Rs 12,200 per sqft
Like Sadashiva Nagar, Malleswaram, too, is picked by those looking at spacious living and, therefore, 3 and 4BHK units move in the market for as much as Rs 2.50-4.20 crore on an average. However, with branded developer projects coming into the area, the price could be higher, too.
Nobel laureate CV Raman, scientist Krishnaswamy Kasturirangan, badminton champion Prakash Padukone, noted Carnatic musician Doraiswamy Iyengar have all had homes in Malleswaram.
Project availability: There are over 60 ready-to-move homes in this location.
Rentals: Rs 5,000- Rs 2.50 lakh. Smaller units may be available on shared-basis.
Indiranagar
Average price: Rs 11,500 per sqft
Among the rich, well-heeled working professionals, Indira Nagar is quite a favourite. Because of its proximity to retail and entertainment establishment, the locality is quite popular among the young rich. For a 2BHK unit, you may have to reserve a budget of Rs 1.20 crore, while a 3BHK can cost you up to Rs 3 crore. A 4BHK unit can command as much as Rs 6.84 crore.
People who have lived here includes cricketer Rahul Dravid.
Project availability: Over 100 projects are ready to move in.
Rentals: Rs 8,000- Rs 3.50 lakh per month.
Jayanagar
Average price: Rs 11,200 per sqft
A plot of land at Jayanagar would cost you close to Rs 4.50 crore while a 2BHK unit can be worth Rs 1.50 crore. For a 3BHK unit, you may need to spend as much as Rs 2.30 crore. A 4BHK unit may cost you as much as Rs 3.75 crore. Prices may vary further depending on the differences in size, the exact location,etc.
People who live here include Narayana Murthy, K Dinesh, SD Shibulal, GM Rao, and N S Raghavan.
Project availability: Over 55 projects are in ready-to-move stage. See them here.
Rentals: Rs 7,500- Rs 1.50 lakh per month.
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