With its constant growth, Bangalore city is becoming a desirable destination for prospective homeowners and job seekers. The city’s real estate market is expanding and changing in unfathomable ways. It has one of the largest and fastest expanding populations, which is driving up housing demand. Bangalore’s flourishing IT sector, pleasing surroundings, and lively culture are the forces for the growth in its real estate market.
As we enter 2024, the city will continue to develop and adapt to the changing times—offering new avenues for smart stakeholders to invest in the Bangalore real estate market.
However, with a vast real estate market available, deciding where to spend your hard-earned money can take time and effort. In this blog post, we’ll examine the top 5 locations to invest in Bangalore to assist you in making sound financial decisions.
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Top 5 Places to Invest in Bangalore 2024
These are some of the best neighbourhoods in Bangalore:
Hebbal (Best Premium Market to Invest in Bangalore)
Hebbal is one of the most popular IT neighbourhoods in North Bangalore and is home to Kempegowda International Airport Bengaluru (BLR). The neighbourhood is located near Outer Ring Road and Bellary Road, which leads to Marathahalli and Yelahanka. It is also well-connected to the rest of the city. One of the highlights of the Hebbal locality is the Hebbal Lake located at the entrance of National Highway 7.
Property prices in this neighbourhood are rapidly growing, making it ideal for people seeking to cash in on the city’s growth. Interested parties will find a blend of high-rise buildings, multi-story residences, and low—to mid-rise apartment for sale in Hebbal. Hebbal houses several well-known developers’ ongoing and finished projects. Prominent projects include Siroya Environ, Godrej Woodsman Estate, Godrej Platinum, Embassy Lake Terraces, Prestige Misty Waters, and SNN Clermont.
The locality is close to several IT parks, such as Manyata Tech Park, a central employment hub in Bangalore. Also, Hebbal locality is a prominent retail hub with several shopping malls, including the Esteem Mall. These notable places have contributed significantly to employment growth.
Hebbal is a great location for several reasons, including excellent public transport, easy availability of cabs and autos, and markets within walking distance. It has several commuting transit points, including RT Nagar Bus Depot within 1.5 km and Hebbal railway station at 2.1 km. Additionally, there’s an upcoming metro line that residents are excited about, which connects Sarjapur to Hebbal.
Average Property Price (sq. ft)
- Villas: ₹ 4,267
- Apartment: ₹ 8,828
Whitefield (Tech parks, Shopping Hub, and Much More)
Whitefield, located at the eastern periphery, is well-known for its opulence housing complexes and for being home to India’s largest Indian International Tech Park.
The residential market in this neighbourhood has a good mix of completed and ongoing projects. Notable residential developments include DivyaSree, Brigade Cosmopolis, Republic of Whitefield, Prestige Lakeside Habitat, and Prestige Shantiniketan. Whitefield is a well-liked residential area for those employed in the nearby IT parks and along the Outer Ring Road (ORR) IT corridor.
This zone is not only a promising place to buy residential properties but also to rent, featuring over 1,000 flats, including fully furnished apartment for rent in Whitefield. Furthermore, this locality is a perfect choice for first-time home buyers.
Old Airport Road, Whitefield Main Road, Whitefield Railway Station, and SH-35 are the primary highways connecting the area to the rest of the city. Lastly, prominent technology parks in and around the area comprise Sigma Tech Park, GR Tech Park, EPIP Zone, etc.
Average Property Price (sq. ft)
- Villas: ₹ 7,117
- Apartment: ₹ 5,927
Yelahanka (Attractive Destination for Buyers)
Yelahanka, located in North Bangalore, is another rapidly developing neighbourhood with a rich history and a beautiful setting. It is positioned near the Manyata Tech Park, a significant employment hotspot.
The region is well-known for its defence institutions, including the BSF Campus, Air Force Station, and the CRPF Base.
The real estate market of Yelahanka has a decent mix of villa complexes and multi-story. Yelahanka and its adjacent areas have distinct residential projects that are in various development phases. These include NCC Urban Nagarjuna Aster Park, Godrej Avenues, Purva Venezia, and Unitech Heritage Estate.
This area has easy access to the airport and the IT corridor along the Outer Ring Road (ORR), making it an attractive investment destination to buy a flat in Yelahanka.
Average Property Price (sq. ft)
- Villas: ₹ 9,640
- Apartment: ₹ 8,300
Electronic City (Several Options to Buy and Rent)
Electronic City is a middle-class neighbourhood in southern Bangalore. This area is close to Kammasandra, Gollahalli, and Electronic City Phase 2.
Electronic City neighbourhood is a well-established residential area, filled with multi-story apartment and villa developments. It has over 900 houses for sale, and you may rent apartment in Electronic Cityfrom over 300 properties. Several notable projects, including Prestige Sunrise Park, GM Infinite E City Town, and Ajmera Infinity, are currently in various stages of development.
The area has excellent connections via Hosur Road, Heelalige Railway Station, Electronic City Flyover and NICE Ring Road. Furthermore, if you decide to go with this area, you are set to benefit from metro connectivity through the currently under-construction Line 3 (RV Road-Bommasandra) of Namma Metro Phase 2.
Average Property Price (sq. ft)
- Villas: ₹ 5,300
- Apartment: ₹ 4,300
Devanahalli (Rapidly Growing in Every Aspect)
Devanahalli is a growing neighbourhood with multi-story apartment and villa complexes. With the International Airport projected to strengthen job prospects, the region is transforming into a well-organized, open, green suburb. Brigade Orchards Parkside, Salarpuria Sattva Park Cubix, Ozone Urbana Aqua, and Hiranandani Cypress are just a few famous residential and commercial developments in Devanhalli.
One of the famous residential enclaves, Godrej Plots, highlights the best-planned development offerings. The proposal has huge plots with lavish features. Godrej Plots is in the heart of Devanahalli and has excellent connectivity.
This area is also seeing some of the major residential and commercial property developments, and as a result, the real estate market in this locality is in high demand. Hence, it is wise to buy apartment in Devanahalli, before all the residential spots are taken.
Average Property Price (sq. ft)
- Villas: ₹ 8,170
- Apartment: ₹ 7,150
Wrapping Up
Bangalore continues to offer promising investment opportunities. From the premium allure of Hebbal to the tech-centric atmosphere of Whitefield, the attractive destination of Yelahanka, the convenience of Electronic City, and the burgeoning potential of Devanahalli, there’s no shortage of options for investors.
So, before you invest in Bangalore’s real estate market, it is crucial to conduct thorough research, leverage market insights, and consider long-term prospects.
Exercise caution while making decisions and keep a close watch on new developments to take advantage of Bangalore’s real estate market’s wealth of options in 2024 and beyond.
