* Approximately 64% of the available residential properties are ready-to-move-in (RM), while the remaining 36% are under construction (UC). In line with the supply, the demand for RM properties is also high, at 72%.
* The demand for properties priced between INR 75 lakh and 1 crore is the highest (28%), followed by the demand for properties in the INR 50-75 lakh price range (24%).
* Yelahanka (30%), Thanisandra(23%), Hennur (19%) and Jakkur (18%) emerged as top choices, based on customer demand for properties in North Bengaluru
North Bengaluru's Airport Road Corridor, which includes the micro markets of Yelahanka (30%), Thanisandra (23%), Hennur (19%) and Jakkur (18%), is witnessing a surge in residential investments, with a clear preference for 3BHK houses (52% of the demand) reports Magicbricks Research.
Titled “Investment Advisory Report: Airport Corridor, North Bengaluru” the report observes that between January and March (Q1’ 2023), residential property rates along the corridor increased 9.8% YoY surpassing the city's average growth of 9.3%, alluding to promising returns on investments. It further indicates that the demand for properties priced between INR 75 lakh and 1 crore is the highest (28%), followed by the demand for properties in the INR 50-75 lakh price range (24%).
The report also reveals that 2 BHK units have the highest availability (45% of the total supply), closely followed by 3 BHK units (42%). The supply of residential properties in the Airport Corridor recorded a substantial year-on-year growth of 20%, outpacing the overall supply growth in Bengaluru, which stood at 6.5%.
Siddhart Goel, Research and Editorial Head at Magicbricks, shared, The Airport Road Corridor in North Bengaluru has gained strong investor sentiment due to its proximity to the Kempegowda International Airport, one of India's busiest airports. Enhanced infrastructure and increasing employment and business opportunities in this corridor have further bolstered interest, with real estate developers launching integrated townships in the area. This corridor shows clear signs of future growth and development, indicating potential property value appreciation and long-term benefits for end-users and investors in terms of capital appreciation and rental yields.”
The report also observes that Thanisandra has the highest rental demand (31%) in the area, due to its proximity to the Manyata Embassy Business Park, Karle Town Center SEZ, and the ORR. Yelahanka (29%) ranks second in rental demand, followed by Hennur (17%).
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