By any chance, have you invested in a property at Bellandur? If so, you reasons to rejoice. Bellandur is reported to be the place where maximum price rise of properties has occurred which is by 7 per cent compared to the quarter ending July 2014. As per the PropIndex (July-September 2014), the price of Bellandur properties have increased the most compared to a drop of 2 per cent in the last quarter ending June 2014. The experts feel that this has happened due to the increase in demand for housing in this area. Let us find out the reasons.
Proximity to IT Parks, a Primary Reason
Bellandur is just about 6.5 km away from silk board with a distance of 14.6 km from M.G. Road which is about 35 minutes’ drive. Bellandur is about 15 to 18 km away from Electronic City which is situated in the South and is about half an hours’ drive through Hosur road. Whitefield and ITPL are located in the East which is about 12 to 15 km away which also takes the same time through Outer Ring Road. Apart from this, companies like IBM, AOL, Cisco, Intel, AT&T, Wipro, SAP Labs and many SEZs are either on their way to set up their operations or are already operational which is at a walkable distance from Bellandur. The market watchers opine that IT workers prefer their work place to be near their homes. In that respect Bellandur is attractive to them which is helping the price to rise and today the price of properties here ranges from Rs. 70 lakhs to a crore of Rupees or above. The Bellandur market is targeted at the upper middle class segment with few apartments in the range of Rs. 40 to 60 lakhs for the midlevel professionals.
Communication Advantages and Connectivity:
As enumerated earlier, it is about 6.5 km away from Central Silk Board and 14.5 km away from M.G. Road with ORR running across. Bellandur is privileged with frequent bus services and other modes of public transport. The inauguration of the new flyover has made it well connected to the South and East Bangalore and has made the plying of traffic more easy reducing the travelling time.
The preference of people to reside in Bellandur has increased the social infrastructure with middle and mostly high officials of the IT industry to settle there. This has helped in making the area a pool of high end talents with the emerging educational institutions, malls, supermarkets that are seen sprawling in the area.
A Preferred Location:
Bellandur Lake being one of the largest lakes of Bangalore was used for recreational purposes like swimming and other leisure activities by the inhabitants. The water was also used for agriculture. Thus properties overlooking the lake had the advantage of Preferred Location Charges (PLC). But now the lake has lost its charm due to sewage problems, pollution and drainage issues. However BDA has announced plans for renovation of the lake.
Prices Are Competitive:
Located at a distance of 20 minutes’ drive from Koramangala and with its own locational advantages and all the infrastructure in place Bellandur’s prices are lesser than that of Koramangala. In contrast, the price of a sq. ft. in Bellandur is Rs. 5, 000 to Rs. 9,000 compared to Koramangala which has prices about Rs. 6, 000 to Rs. 10, 000 per sq. ft.
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