North Bangalore's real estate market has been booming ever since the Bangalore International Airport (BIA) was built in the area in 2008. Since then, this market has developed and expanded at a consistent rate.
The real estate prestige park ridge industry in North Bangalore is booming, with new commercial buildings, expanding infrastructure, and a slew of new residential projects. The Hebbal Flyover, the Outer Ring Road (ORR), and the new highway over Bellary Road have all improved transportation in the area, attracting the attention of developers and investors.
Flyovers connect the Outer Ring Road and Bellary Road on NH-7, giving Hebbal a reputation for ease of access. Buses from Vayu Vajra, BMTC, and the soon-to-be-operating Bangalore Metro Rail service all converge in this neighborhood.
Major improvements to infrastructure and connectivity, as well as the establishment of numerous businesses, sparked a real estate boom there. The Gottigere-Nagavara line is planned to be extended through Hebbal and Yelahanka as part of the second phase of Bangalore Metro. Consequently, this is improving the local housing market.
Yelahanka is another area that has been highlighted in the current report. Yelahanka's proximity to the airport, at just 29 kilometers away, has boosted real estate prices in the area and made it feasible to invest in homes there. Five or six years ago, the neighborhood saw the beginning of several residential developments that are now finished or nearing completion.
Yelahanka, which was formerly a quiet suburb, is now a hive of commercial and residential activity. The northern ring of Greater Bangalore, Yelahanka is only 14 kilometers from the heart of Bangalore. The intersections of Hospital Main Road, BB Road, Major Sandeep Unnikrishnan Road, and the 16th 'B' Cross Road in New Town have developed into some of the most important commercial thoroughfares in the city. Because of the high concentration of military personnel in the area, Yelahanka is also considered to be less dangerous than other districts of Bangalore.
Many areas in northern Bangalore's neighborhoods have produced profitable results in the past. It is expected that the real estate market in Northern Bangalore would rise as a result of the expansion of the information technology (IT) and business process outsourcing (BPO) sectors and the anticipated development of the city's infrastructure.
Why Apartments For Sale in JP Nagar Are Popular
If you're looking for a place to call home in Bangalore, you should consider JP Nagar. You may find it in the city's southeastern neighborhood. Locational neighbors include Banashankari, Jayanagar, and BTM Layout. Since it was designed to expand existing neighborhoods like Banashankari and Jayanagar, this place is considered a planned development. Two thousand five hundred acres across nine distinct stages describe the size of this location.
The Outer Ring Road is an important thoroughfare in Bangalore (ORR). JP Nagar is a part of the Outer Ring Road. This route provides convenient access to the rest of the city's major thoroughfares. The Kanakapura Main Road and the Bannerghatta Main Road are two of the other main thoroughfares that have passed through this mini market. Highway 7 and the NICE Ring Road are only two of the many major thoroughfares that are easily accessible from this area.
This mini-market is situated 47 kilometers from Kempegowda International Airport. Even though there is no plan to build a metro station here, residents of the nearby Kanakapura neighborhood would benefit greatly from having access to the system.
It costs approximately INR 4200 per square foot to purchase an apartment in JP Nagar. In India, the average apartment price per square foot was INR 3,600 a year ago. Over the past year, home prices in this area have increased by around 17%. Over the past four years, we have seen a wide range of prices in this area. The average price per square foot was INR 2900 four years ago.
The 2 BHK layout is the most sought-after among JP Nagar's apartment listings. If you can't find a 4 BHK apartment in JP Nagar, then the 3 BHK options are the next best thing. Property seekers in this niche sector often have a price range of 40–50 million Indian rupees (INR). The INR 30–40 lakh range is the second most sought-after price bracket. Apartments between 1000 and 1250 square feet in size are the most popular choice among local renters. Next follows the 1251-1500 square foot range. Customers in this area are willing to pay more than INR 2000 per square foot for apartments. The next price bracket begins at INR 3001 and ends at INR 3500 per square foot.
In addition to being a major center for residential property, the micro market is also a major center for commercial property. There are a restricted number of plots available. Because of its closeness to major IT centers like Electronics City, Whitefield, and Marathahalli, this micro-market has seen an increase in commercial real estate interest. For the same reason, it has become popular within the IT community. Aside from locals, non-resident Indians (NRIs) are a potential market for 3 BHK apartments in JP Nagar. Among Bangalore's many neighborhoods, this one has long been known as one of the best for finding a comfortable home.