Bommanahalli is now a very well-known suburb of the city of Bangalore. The suburb has managed to carve a niche for itself and is now a preferred destination for the young IT professionals looking for a well-furnished home. A flat in Bommanahalli is a valued investment looking at the future prospects of the area.
The suburban town of Bommanahalli grew quietly and gradually. As the city of Bangalore was witnessing unprecedented infra growth, the development started pouring into the suburbs and the adjoining areas, making them to grow and prosper as well.
The setting up of IT campuses across the city has changed the face of the Bangalore and also its suburbs. This real estate development made the city into an international professional hub and a city full of professionals. The suburban areas contributed to a great extent, as the city did not have so much space for setting up humongous campuses and hence the outskirts of a city were preferred. Today owning a flat in Bommanahalli is both a commercially and logically wise investment.
Benefit of the Location
Bommanahalli enjoys a good strategic location and proximity to profitable areas in Bangalore. Lying near the IT hub and Electronic City, with HSR Layout nearby make it a real estate hub. Also, the properties constructed here are new and the young professionals are attracted to new constructions in newly designed gated societies and apartments. A flat in Bommanahalli is very much prized for them and with kind of constructions and amenities and facilities available, professionals like to live here.
Looking at the area and the proximate colonies, the property prices are maintaining a good growth trajectory for a new locality. Since the quality of constructions is good and a variety of options available for the buyer, buyers and renters are spoilt for choice in Bommanahalli.
The current prices for buying a flat in the area range between Rs 4500 per square feet to Rs 7700 per square feet (April to July 2013 estimates). The prices vary according to the size, location, society, amenities, facilities and proximity to commercial roads for a particular property. Also, the builder reputation plays a big part in deciding the prices of a house.
Real Estate Trends
The real estate growth trends for the locality look bright and are witnessing real climb at the moment despite the slowdown in the Economy. The demand for houses is present and is making the property prices to go up. The growth has been phenomenal in the case of certain properties and it been around double or triple (April to July 2013 figures).
Since not everyone can buy a house, the rented accommodations too are raking in the moolah and clocking good growth figures of around 50 to 60 per cent per quarter. This is majorly because of the popularity of the locality and the incessant demand for houses in Bommanahalli.
Experts believe that this growth is real and is likely to continue for some time. As the demand and supply gap remains and more and more professionals keep entering the market, the demand for houses in Bommanahalli is likely to go up further pushing the prices and rentals up.
The suburban town of the Bangalore city has made a mark for itself and investing in the same is a wise proposition by every angle. The prices are down at the moment, (as compared to the profile of the area), and an investment made today in a 3 bhk flat in Bommanahalli will be worth crores in next three to five years.
Anupam is one blogger to watch out for. He regularly writes on the trends and scenario of the Indian real estate market. His latest article on the properties in bangalore for sale throws light on the current scenario in the neighborhood.