Ample new land supply, along with affordable property prices, high consumer demand and a wide range of options across segments has upped the ante of few micro markets in South and East Bengaluru in 2015. As per CommonFloor annual report titled Bangalore Real Estate in 2015, both these regions together witnessed 70 per cent of the new apartment supply this year.

While South Bengaluru topped in the affordable category with 40 per cent supply, East Bengaluru saw maximum supply in middle and luxury categories with 37 and 34 per cent respectively. Thus, it would be advisable for one to put money in these two regions. The leading markets here would be:

Electronic City

Touted as one of the major IT hubs in Bengaluru, Electronic City has seen major real estate development over the last few years. The area has emerged as the buyers’ paradise this year based on the its ranking on several parameters such as price range, availability of properties in various segments, BHK configurations and rental trends.

The area boasts of good connectivity via the expressway and is also easily accessible to the NICE corridor. In one of the major deals seen in 2015, Infosys plans to develop a campus at Electronic City at an investment of about Rs 216 crore. Moreover, with a retail mall expected to start operations soon, the area will effectively become self-sustained.
Additionally, Electronic City Phase 1 is the leading market that saw highest gross rental yield (of five per cent) in 2015.

Begur Road

Begur Road recorded maximum apartment unit launches in the affordable segment. The stretch provides excellent connectivity to the surrounding areas. Not only does it connect several areas, but is also easily accessible and connected to some major roads in the City such as NICE corridor, Hosur Road, Banner-ghatta Road and Jigani Road.

Capital values in Begur Road fall in the price brackets of Rs 3,500-Rs 4,000 per sq ft. Apartments dominate the property spectrum here. Interestingly, at present, the Begur Road market is dominated by affordable and mid-segment properties with 50 per cent share each.

Kanakapura Road

Much of the development in Kanakapura Road can be attributed to infrastructure developments such as NICE Road, which has enhanced connectivity to Electronic  City, Bannerghatta Road and Mysore Road. Moreover, being a busy stretch, the upcoming metro will be the USP.

Further, from the NICE Road interchange up to Kanakapura, Kanakapura Road will be widened into a 150-ft, four-lane road, which again will improve the traffic situation and enhance the liveability quotient of the area.

Average capital values fall in the price range of Rs 4,500-Rs 5,300 per sq ft. Apartments dominate property spectrum of Kanakapura Road, followed by plots and villas with 17 per cent and six per cent respectively. Maximum properties in Kanakapura Road are in the mid-segment with 57 per cent, followed by affordable with 29 per cent and luxury with 14 per cent.

Panathur

Panathur emerged as the new hotspot in 2015 due to its proximity to the IT hubs of Whitefield and ORR and ample land availability. Average capital values fall in the price range of Rs 3,800-Rs 5,500 per sq ft. Interestingly, at present, Panathur’s market is dominated by affordable and mid-segment properties with 50 per cent share each.

Bannerghatta Road

Bannerghatta Road also featured in the list of top markets for maximum new launches. Average capital values fall in the price range of Rs 4,800-Rs 5,500 per sq ft. Apartments in affordable segment dominate the property spectrum here, followed by mid-segment with 35 per cent. Good connectivity and affordable property prices will continue to drive these markets in 2016 as well.

(The author is co-founder, CommonFloor & head, CommonFloor Groups)

(*All figures as per results of CommonFloor research)