Affordable Housing Gives Thrust To Bangalore Realty Market

According to a recent survey report by a renowned real estate firm, it has been revealed that the realty market of the IT city Bangalore got a major push due to development of more affordable housing projects in current times. This has overall given a thrust to the property market thereby making the city an affordable housing hub.

Due to the presence of world-class infrastructure, better connectivity, renowned MNCs and IT companies, many professionals have flocked towards this city to have better career prospects. With increase in working population, the demand for residential units has also improved to much extent.

In terms of living index, recently Bangalore has also ranked as the 5th cheapest global city with much better cost of living index. Apart from that, the state govt has also launched many policies related to affordable housing which has helped developers to develop more such projects and home buyers to invest in such project. There are various areas in the city where a prospective homebuyer can purchase a 2 BHK or a 3 BHK residential unit, equipped with decent amenities and that too at budget-friendly prices.

Some of the areas which are witnessing huge demand in this segment include Chandapura, Sarjapur Road, Kanakapura Road, Malur-Hoskote and Electronic City. The average property price in these areas is much lower as compared to areas in Delhi-NCR or Mumbai.

For instance, one can easily get a 2 BHK unit in Bangalore at a price of Rs 950 sq. ft., on the other hand, a 3 BHK can be availed at an attractive price of 1, 200 sq. ft.

Some of the popular projects in this category include Pride Green Meadows, Aryan Golden Arena, Pashmina Lagoon Residences, Sowparnika Unnathi etc.