Bangalore is India’s IT capital, with plenty of room for infrastructural development. Bangalore’s real estate industry has been steadily growing over the last few years. Furthermore, government initiatives such as the RERA Act, which aims to benefit both builders, investors, and home buyers, have led stakeholders in Bangalore to recognise the importance of real estate. These features, together with the expansion of IT and infrastructure, transit lines, high-quality building, and market stability, have resulted in a few of the finest places to invest in Bangalore in 2022. Take a look at a few of them. According to some estimates, migrants make about half of Bengaluru’s population, with 64 percent coming from other regions of Karnataka and the rest from other parts of India. While a lot of your expenses will be determined by your own circumstances and lifestyle choices, we’ll look at some of the most common areas where people wind up spending money: property purchases, rent, education, daycare, gasoline bills, food, travel, transportation, utilities, and so on.
Bangalore: How much are you willing to spend for a home in the city?
Bengaluru has both affordable and luxurious neighbourhoods, and a quick look at Housing.com reveals that the city has over 50,000 projects for sale. The prices of these Bengaluru properties for sale range from Rs 1 lakh for residential plots to Rs 40 crores for huge, independent mansions or land parcels. According to current listings, 1BHK units start at Rs 8 lakhs and go up to Rs 13.50 crores, while 2BHK units start at Rs 10 lakhs and go up to Rs 13.50 crores. Luxurious apartments could cost up to Rs 30 crores.
Bangalore’s cost of living: How much does it cost to rent a home in Bangalore?
While 2BHK and 3BHK units are popular in the rental market, smaller flats like 1RK, 1BHK, and even larger units like 4BHKs are plentiful. The cost of renting a home in Bengaluru varies from Rs 7,000 to Rs 1 lakh per month, depending on the specific location, layout, and size of the property, as well as the amenities provided.
In Bangalore, how much do co-living houses cost?
If you’re a student or working professional seeking for co-living or paying guest lodgings in Bengaluru, click here to get a list of available possibilities. These properties have rents ranging from Rs 1,000 per bed to Rs 36,000 per room per unit. Prices vary according to the services provided, such as food, laundry, maintenance, and housekeeping, as well as the property’s location and age.
Average salary of Bangaloreans
As of May 2020, the average pay in Bengaluru is Rs 6,48,000 per year, according to Payscale. India’s IT powerhouse is one of the country’s highest-paying cities. According to the Randstad Insights Salary Trends Report 2019, the city also has the highest CTC for junior employees, at Rs 5.27 lakhs, and the highest CTC for mid-level employees, at Rs 16.47 lakhs. Senior personnel earned an annual salary of Rs 35.45 lakhs. In Bangalore, a good wage range is between Rs 50,000 and Rs 1 lakh per month.
Best places to invest in Bangalore:
Average property prices in Yelahanka: Rs 6,030 per sq ft
Average monthly rent in Yelahanka: Rs 15,880
After the establishment of the Kempegowda International Airport, this neighbourhood began to draw investors, and as a result, Yelahanka was named one of the finest areas to invest in Bangalore in 2018. This location was once solely a satellite town with numerous industrial units. After the airport opened, Yelhanka became a land of possibilities. Many IT companies have set up shop here, clearing the path for residential development. This market began to attract the interest of large developers due to its enormous expanses of land and strong connectivity via air, rail, and highways. With low land costs and a strong potential for price appreciation, the neighbourhood is continuously developing.
Average property prices in Whitefield: Rs 5,538 per sq ft
Average monthly rent in Whitefield: Rs 18,518
Whitefield is a well-established commercial district in Bangalore that is one of the best places to invest. Whitefield has become a hotbed for real estate investment thanks to the creation of huge IT parks. Several housing options are reasonably accessible to the middle class in Whitefield. This region will surely become a focus for real estate investment now that the purple line metro has been connected and train services have been introduced from Majestic to Whitefield.
Average property prices in Sarjapur Road: Rs 6,147 per sq ft
Average monthly rent in Sarjapur Road: Rs 21,358
Through Sarjapur Road, the Outer Ring Road connects Electronics City and HSR Layout. As the Outer Ring Road grows overwhelmed with IT companies, Sarjapur has emerged as a new commercial and residential hub. Sarjapur Road has experienced substantial expansion and is now one of the best residential areas for nearby businesses. The Outer Ring Road is projected to reduce traffic congestion on Sarjapur Road, which will lead to an increase in home prices. As a result, a plethora of new projects are on the horizon, all of which will likely raise prices.
Average property prices in Kanakapura Road: Rs 6,782 per sq ft
Average monthly rent in Kanakapura Road: Rs 18,255
Kanakapura Road has a special advantage because of its excellent access to the city’s key areas. The projected Peripheral Ring Road will connect it to important roadways such as Mysore Road, Tumkur Road, Hosur Road, and Old Madras Road. This has resulted in the development of new commercial and residential properties in the area. The presence of educational institutions, as well as the development of a metro rail line and road improvements, have elevated the area’s real estate prominence. Developments in this area could lead to a large price increase in the coming years.
Average property prices in Kengeri: Rs 5,451 per sq ft
Average monthly rent in Kengeri: Rs 13,998
Kengeri is a satellite township that has seen industrial expansion and is currently transforming into a thriving real estate investment hub. The abundance of infrastructure, amazing services, and excellent connections in this location are driving real estate expansion. It contains a diverse range of commercial and residential properties, all of which add to the area’s real estate profile. Pleasant Road, ORR, and Mysore Road are all within easy driving distance.
Average property prices in Bannerghatta Road: Rs 10,918 per sq ft
Average monthly rent in Bannerghatta Road: Rs 16,763
Bannerghatta Road emerges as one of the greatest places to invest in Bangalore real estate because of its proximity to BTM Layout and JP Nagar. It has good access to NICE Road and Mysore Road, as well as large accessible property lots. This neighbourhood is also one of the city’s oldest. As a result, well-established schools, colleges, hospitals, and other amenities may be found. It is a solid investment bet because of its interconnectedness, stable growth rate, and growing development.