The Great Debate: North Bangalore vs. South Bangalore Real-Estate
Being a Bangalore kid, I have seen the city’s evolution into a blooming metro town. I have been a witness to the metamorphosis from Kannadiga dominated city with cinema houses and dosa joints everywhere to a centre of cosmopolitan culture dotted with malls and showrooms.
The city has seen average age of its population going down from 60 to 30 years and the city is now home to the maximum number of IT professionals in any Indian city. Such changes have changed the lifestyle of people which has resulted in modification of people’s preferences while looking for real estate.
North Vs South : The Great Divide
North Bangalore area has emerged as the focal point of most high end industries especially the ones close to Bellary and Hebbal road. This rise in infrastructure is due to the development of international airport and several other ongoing infrastructure projects. In contrast to this, South Bangalore is already a developed area with established infrastructure and real estate investments in South Bangalore have shown a steady appreciation.
Such a huge divide between both the locations may confuse you when you plan a real estate investment. I have been approached by a number of friends and family members for advice on real estate investments where they seek my opinion on both the areas. They are usually divided between North and South because while North promises them a quick increase in value, the South offers them an opportunity to remain close to the existing infrastructure such as schools and hospitals.
To ease you out of the predicament of making a choice, here are few important factors to bear in mind while figuring out what is right for you:
1. Scope for Infrastructure and Related Developments
If you are the kind of person who cannot stay away from the thriving heart of the city, remain in South Bangalore which is home to several Fortune 500 companies. Besides this, government has also sanctioned number of SEZs to be developed in 2015 including Varthur, Whitefield, Electronic City and Begur making it a heaven for investors.
However if you wish to stay in a developing zone, North Bangalore should be your choice. The Kempegowda international airport and the six lane expressway have raised the value of real estate by huge margins here. Such developments have attracted a number of organizations to set up their offices in North.
2. Appreciation Trends
While there is no denial that a lot of us want to have our homes located at posh locations, we are also concerned about the correctness of our investments. North Bangalore has shown appreciation rates of nearly 20 to 30 percent. Yehalanka-Dodaballapur road has witnessed high demand of villas and apartments in gated communities. South Bangalore has witnessed an appreciation of 15 percent. Consider the hike in prices over the past few years while arriving at the decision.
3. Proximity to Offices, Educational Institutions, Malls and Hospitals.
Go for South Bangalore by all means if you trust only the old and established. Development in South Bangalore is nearing saturation however tearing down old buildings to create new ones is certainly taking place at a number of locations.
North Bangalore has a lot to catch up to. It is all set to be the New Bangalore. Presently it is a diamond in the rough with a number of esteemed projects underway. Settle in North Bangalore if you can bear the pitfalls of staying in a developing location.
4. Property Prices:
In the end, it is always the price that acts as the deciding factor. North Bangalore offers you villas and row houses at 4,800 to 9,000 Rs psf while you can expect to pay anything close to 8,500 Rs psf for such a property in South Bangalore. Apartments are cheaper in South Bangalore at 2,100 to 6,300 Rs psf when compared to North Bangalore where you will have to shell out between 3,800 to 11,500 Rs psf.
With the growth of the city, the divide between both the parts of the city continues to grow making it a herculean task to decide on investing in either of them. It is wise to avoid going with a single person’s perspective while arriving at a decision. List the pros and cons of each location and conclude your investments wisely.
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