A majority of the people in Bangalore are eager to invest in apartments in Hosur Road for multiple reasons: better value appreciation, better resale value, and good means of transport to important locations of Bangalore.
Price details and appreciation
The price range of apartments in Hosur Road varies from Rs. 2800 to Rs. 6800 per sq ft according to the range of amenities provided. The capital value appreciation of these properties is expected to be around 10% per annum.
Hosur Road extension can be divided into five segments to explore the development potential in the real estate sector.
1. The Koramangala Industrial Area
This sector has already reached the point of saturation. There is great potential for rentals from the residential as well commercial properties constructed in this segment
2. Portions of BTM Layout
The segments located in and around the Silk Board provide a certain scope for development. The modification work done in the Panyam Cement Factory has released retrieved about 24 acres of land for future development. The upcoming of several software offices in this area in the recent times have led to a boom in the residential property market.
3. Bommanahalli and Bommasandra
The areas in their periphery offer a moderate scope for real estate development. The conversion of old industrial units present in these locations has improved the land availability to a larger extent.
4. Electronics City
The areas around the Electronics City have attained great importance. It is a significant area which has contributed to the boom in the IT sector in the city. The Chandapura-Anekal-Attibele belt is witnessing a rise in housing complexes in the affordable mid-range segment. The IT sector and Bangalore’s Electronic City have the potential for generating employment for about 5 lakh professionals. This will have a positive impact on commercial and residential real estate demand in this locality. Several new apartments are being constructed at Hosa Road (Jail Road) initiated by brands like Sobha, Godrej, Prestige, and GM Infinity.
For people employed in the Electronic City, this is the sector that is providing the residential requirements at present. It is slowly marching towards self-sufficiency and the potential for planned realty development is very high.