South Bangalore is rapidly emerging as a prime real estate hotspot, with demand, capital appreciation, and rental growth soaring beyond expectations.
With a remarkable 15.1% year-on-year (YoY) increase in demand, South Bangalore is setting the pace for the city, far surpassing Bangalore’s overall market growth of 3.41%, shared Magicbricks, India’s leading real estate portal.
The portal further shared that South Bangalore’s real estate market has seen an impressive capital appreciation rate of 23.5% YoY, outpacing Bangalore's average of 20.9%. Property rates in South Bangalore have surged by 14% in just nine months, climbing from Rs 7,177 per square foot in January-March (JFM) 2024 to Rs 8,205 per square foot in July-September (JAS) 2024.
This surge reflects the market's dynamism, with property prices continuing to rise, making it a prime location for buyers to invest before prices increase further.
The portal further observed that South Bangalore remains a strong market for 2 and 3 BHK homes, which are highly sought after by families and professionals alike. The average price for a 2 BHK unit is ?7,595 per square foot, with prices ranging from Rs 69.2 lakh to Rs 82.7 lakh, depending on unit size. For a 3 BHK home, the price averages Rs 9,970 per square foot, with a price range of Rs 1.48 crore to Rs 1.9 crore.
Kanakapura Road stands out as a premium locality with property prices around Rs 9,380 per square foot, providing a serene environment surrounded by nature and cultural heritage. JP Nagar and Bannerghatta Road present more affordable options, with prices at ?8,350 and ?7,300 per square foot, respectively, making them ideal for families looking for developed infrastructure and easy access to essential services. Electronic City, priced at ?5,950 per square foot, remains an attractive option for investors and first-time buyers due to its proximity to major IT and industrial hubs.
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