Bangalore is probably one of the most important places that have been swept away by the real estate storm. The rate at which the industry is growing is a perfect example of the same. Being the IT destination of India, people migrating to Bangalore every year for work is huge and the city being a multicultural place accommodates anyone who wants to make it their home. Therefore, the urge to make Bangalore an ultimate place to settle down is developed in every youngster's mind that comes to work here. However, this has many pros and cons as well.
Real estate builders have properly understood the increasing need for dwellings in Bangalore and are coming up with many small and big projects that can match the requirements of people from every stratum and also become one of their best investments. With the heart of the city getting more and more crowded, it has started expanding to the outskirts and many places that once were not developed have now become a part of the Bangalore city. This has in turn brought changes in the real estate sector as well.
People have started preferring to live outside the hustle and bustle of the city but in a distance accessible to the major areas as well. This is the scenario where places like Devanahalli come into picture. Incorporating the second-largest airport in India, Devanahalli is a place that also has many other phenomenal developments to boast about. Science Park, Aerospace Park and an Rs 10-billion Financial City are a few of them. Devanahalli lies near upcoming largest IT region in the country, BIAL Investment Region.
Apart from this, it is only at an approximate distance of 40km from the city and therefore connectivity to the major business and IT hubs, commercial streets, malls, etc is very convenient. This has in turn shot up the demand for homes in Devanahalli and has resulted in a major real estate growth for the area.
The infrastructure of the area has also undergone many developments in last few years. NH7 that connects places like Hebbal to Devanahalli has been well planned and expanded to six lanes. The BMTC bus network has also been expanded so that the area is connected to various places of the city.
For those who are looking for plots near international airport Bangalore in gated communities are available. One can choose according to his/ her wish and financial state.
In comparison to nearby areas like Yelahanka, properties in Devanahalli are being priced at competitive rates as of now and are less to that of nearby areas. However, it can increase once the infrastructure is completely set and expanded. This is one of the main reasons why, at present even an average family is also opting to buy villas, as they give a feeling of living in an independent house and is also a good investment option.
Setting up of the satellite township in Devanahalli will solve all the civic issues in this area and therefore the price is bound to increase. It would be the best option to invest in residential and villa plots now itself so that later if the buyer plans to sell the house it will fetch him/her huge returns. The rates for properties in the area are expected to increase in the coming years and price appreciation has been calculated as 2%-3% over the last year. And the current property rates range from Rs 3,700-5,603 per sq ft.
Buying a home is always a crucial decision in terms of the locality, interests of the person buying it, finances, etc. Therefore, buying it accordingly is the best suitable way out.