Bengaluru is amongst the most well-known cities in the world. Thanks to the thriving Information Technology (IT) industry, people cutting across all ages, gender, and cultures have adopted Bengaluru as their home.
It is common to see young IT professionals start their careers and then choose to settle here along with their families as they climb up the professional ladder. It is not just the IT industry, but a host of other industries such as the Fast Moving Consumer Goods (FMCG), Food & Beverage, Hospitality, and Small & Medium Enterprises (SME) that have made Bengaluru a hub today. Moreover, it is also one of the most preferred destinations for start-up companies in India.
With the city seeing such fascinating growth in terms of the number of young adult population embracing Bengaluru as their base and their increasing purchasing power, the real estate market here has been on overdrive. While there is demand for commercial spaces, more significantly, the demand for personal living space is also growing.
During the pandemic, the Bengaluru real estate market remained stable even as the real estate market slowed down in other major cities of India. One reason for this was the decision by the local authorities to slash the amount of stamp duty on property purchases by 2 to 3% depending on the purchase price. It encouraged people to continue investing in properties and has been helping to put the real estate market back on a growth trajectory post-pandemic.
More and more working professionals with stable jobs are opting to buy personal living space in Bengaluru. The options include an apartment or even a small house if your budget permits. Your preferred location will primarily depend on how much time you are willing to commute to and from your workplace.
Property prices and Bengaluru geography
North Bengaluru currently has the highest demand for properties as compared to other parts of the city. This is primarily due to its proximity to the Kempegowda International Airport and the outer ring road. It is also closer to the industrial zones that house some major IT hubs. The prices of properties here have seen the highest peaks in recent times.
West Bengaluru is traditionally an industrial hub with warehousing and heavy industrial activities. Due to the lower land value in this part of the city, it is considered a good starting point for those who wish to own their own house in Bengaluru.
East Bengaluru has long been considered ideal for affordable residential developments, and several major property developers have recently shown interest in investing here.
South Bengaluru is the most well-known part of the city and houses both the old and the new Bengaluru. It comprises upscale neighbourhoods and is a thriving and affluent residential market.
What is the best housing option for young professionals?
For working professionals in a growing city like Bengaluru, apartments present the most viable personal space to own. One reason is safety & security; most apartments have security measures to ensure a safe environment.
Safety is important if you are an IT professional working in international time zones. Most of these apartment societies are covered by CCTV security cameras. Secondly, most apartment complexes have a maintenance crew managing minor services of your unit. You don’t have to take a day off to look for plumbers, electricians, and other services.
Most apartment complexes have thriving grocery and essential services centres in proximity. It is particularly useful now when many prefer to work from home. The proximity of groceries and other essentials ensures basic grocery shopping is hassle-free and convenient.
Once you have decided which part of the city you would like to reside in, the obvious next step would be to find the right kind of apartment.
You have the following options:
- 1 BHK with one standard bedroom with a hall, a bathroom, and a kitchen. The overall area is approximately 500 sq ft.
- 2 BHK comprising two bedrooms with attached bathrooms, a hall, and a kitchen. The approximate area is around 1000 sq ft.
- 3 BHK is a big unit mostly with 2 large bedrooms with attached bathrooms; an independent bedroom, usually smaller as compared to the other bedrooms; a hall; and a kitchen with a work area. The overall space will be around 1500 square feet.
- 4 BHK are available for those who are comfortable spending big. Amenities include 4 large bedrooms with attached bathrooms, 2-3 balconies, hall, kitchen, smaller common bathroom, and so on.
- Duplex apartment houses are available for the high-end strata; there is only one apartment per floor. Developers also offer tailor-made two-floor apartments as per your convenience and budget.
Five apartment complexes to bookmark
Having understood the types of apartments, it is time you take a look at some of the best yet affordable places in Bengaluru today.
Here is a list of five such apartments:
1. Sobha Royal Crest, Banashankari
Built over six acres in Banashankari, the Sobha Royal Crest will house 329 Vaastu-compliant apartments (3 BHK & 4 BHK). It has easy access to top schools, hospitals, and malls and offers a good view of the city. You can expect possession by 2028.
Landscaped garden, classy pool, sports zones, gym and jogging track, party-house and clubhouse for residents. It will be a gated community with sufficient power back-up along with a maintenance and security crew.
2. Puravankara Tivoli Hills IV, Devanahalli
Puravankara Group is one of the foremost real estate developers in India, with close to 400 completed and ongoing projects in about a dozen major cities of India.
They have projects in India, Srilanka and the Middle East. The Puravankara Tivoli Hills IV, situated in Devanahalli, occupies an overall land area of about 12 acres. It will house 251 apartment units.
Special sports complex with tennis, basketball and badminton courts, and a swimming pool, clubhouse for house and common parties, jogging track, gym, as well as rainwater harvesting & sewage treatment plants. There will be a well-planned power-back structure along with maintenance staff.
3. Sovereign Silicon City, Horamavu
Situated along the outer ring road (ORR) in north Bengaluru’s Horamavu, it enjoys the vicinity of the International Tech Park & Manyata Tech Park. The Sovereign Silicon City will house 1000 units of 2 BHK apartments on 9.5 acres of land.
Clubhouse for small gatherings, a jogging track and gym for healthy living, a swimming pool and badminton court for the sports freaks, elevators and convenient car parking, rainwater harvesting plant, sewage treatment plant, and power back-up.
4. SV Prime, Whitefield
Whitefield in north Bengaluru has emerged as a high-demand location, especially for IT professionals. It is home to some of the most reputed IT giants such as Wipro, MindTree, TCS, Accenture & IBM Global Services. It also houses some of the best Malls in Bengaluru. The SV Prime in Whitefield will comprise over 250 apartments, including 2 & 3 BHKs.
Common WiFi, clubhouse, gym, jogging track, swimming pool, car parking, sewage treatment plant, rainwater harvesting plant, and a dedicated crew of maintenance staff. Expect possession to begin in 2025.
5. Lucky Greens, RR Nagar
The Rajarajeshwari Nagar (RR Nagar), along the Mysore road, is home to the Global Village Tech Park, which houses some of the top IT companies such as Accenture, Mphasis, and NTT Data Services. The area offers proximity to some of the most reputed educational institutions as well as healthcare facilities. Lucky Greens in RR Nagar offers 10 ready-to-move 2,3 BHK apartments.
Well-maintained garden, car parking, power back-up, a common clubhouse, CCTV surveillance, swimming pool, gym, sewage treatment & rainwater harvesting plants, and a team of maintenance staff.
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