<p> Bengaluru: Namma Metro’s Purple Line, which became fully operational in October, and a rise in return-to-office mandates have pushed up property prices and rentals around KR Puram and Whitefield in eastern Bengaluru. </p>.<p>Realtors have reported at least a 20% increase in rentals and an over 30% rise in property prices in six months.</p>.<p>“The demand has gone up significantly and as a result, the prices have also increased. After Covid, property prices were gradually increasing and metro connectivity offered a big boost. For instance, on Sarjapur Main Road, property prices were close to Rs 7,000 per square foot just six months ago. This has now gone up to Rs 11,000,” said Anurag from Prop Realtors.</p>.<p>Flats and villas by big developers are in demand but real estate agents say there are hardly any ready-to-move-in properties in these areas.</p>.Metro commuters' arbitrary parking poses headache for those residing near stations in Bengaluru.<p>“People now want to invest in projects by well-known developers. But they will have to invest, pre-book and wait,” said Lokesh Machappa, Managing Director of Dreams Realty. </p>.<p>Many tenants living close to the metro station said that landlords were demanding higher rents owing to the rise in demand. “Usually, owners increase the rent by 5 per cent-10 per cent annually. This year, they have demanded 20 per cent,” said Sandeep, a convenience store owner near Singayyanapalya metro station. </p>.<p>A landlord in the area said that people were ready to pay higher rents if the property was in a 2-km radius of the metro station.</p>.<p>“While the rent of every property around these areas has gone up, the percentage increase is decided by the proximity to metro stations. The closer the property, the higher the rent,” said Machappa.</p>.<p><strong>Unaffordable PGs</strong></p>.<p>Paying Guest (PG) accommodations are also making the most of the trend. A few have converted twin-sharing rooms to triple-sharing rooms while some have increased the rents drastically.</p>.<p>“It has been two years since I started staying in this PG. This year, the owners have doubled the rent,” said Gagan Shetty, an IT employee staying in a PG near Hope Farm metro station.</p>.<p>The locals also complained that the high demand has led to the construction of huge buildings that can be rented out as PG accommodations.</p>
<p> Bengaluru: Namma Metro’s Purple Line, which became fully operational in October, and a rise in return-to-office mandates have pushed up property prices and rentals around KR Puram and Whitefield in eastern Bengaluru. </p>.<p>Realtors have reported at least a 20% increase in rentals and an over 30% rise in property prices in six months.</p>.<p>“The demand has gone up significantly and as a result, the prices have also increased. After Covid, property prices were gradually increasing and metro connectivity offered a big boost. For instance, on Sarjapur Main Road, property prices were close to Rs 7,000 per square foot just six months ago. This has now gone up to Rs 11,000,” said Anurag from Prop Realtors.</p>.<p>Flats and villas by big developers are in demand but real estate agents say there are hardly any ready-to-move-in properties in these areas.</p>.Metro commuters' arbitrary parking poses headache for those residing near stations in Bengaluru.<p>“People now want to invest in projects by well-known developers. But they will have to invest, pre-book and wait,” said Lokesh Machappa, Managing Director of Dreams Realty. </p>.<p>Many tenants living close to the metro station said that landlords were demanding higher rents owing to the rise in demand. “Usually, owners increase the rent by 5 per cent-10 per cent annually. This year, they have demanded 20 per cent,” said Sandeep, a convenience store owner near Singayyanapalya metro station. </p>.<p>A landlord in the area said that people were ready to pay higher rents if the property was in a 2-km radius of the metro station.</p>.<p>“While the rent of every property around these areas has gone up, the percentage increase is decided by the proximity to metro stations. The closer the property, the higher the rent,” said Machappa.</p>.<p><strong>Unaffordable PGs</strong></p>.<p>Paying Guest (PG) accommodations are also making the most of the trend. A few have converted twin-sharing rooms to triple-sharing rooms while some have increased the rents drastically.</p>.<p>“It has been two years since I started staying in this PG. This year, the owners have doubled the rent,” said Gagan Shetty, an IT employee staying in a PG near Hope Farm metro station.</p>.<p>The locals also complained that the high demand has led to the construction of huge buildings that can be rented out as PG accommodations.</p>