In recent years, Bangalore, also called the silicon valley of India, has grown rapidly. The city’s lifestyle, demographics and job opportunities have attracted people from all over India. With this, the need for luxury apartments in good locations has also surged. Customers are not only viewing these homes as an asset, but also as a change that offers an enriched lifestyle.
Spurt in luxurious apartments in Bangalore
In the last few years, Bangalore’s real estate market has seen a surge in luxurious houses. These houses are primarily targeted towards high net worth individuals and therefore, real estate developers are focusing on high-end villas and row houses equipped with all the modern amenities.
Profitability is the main reason for developers to join the premium houses bandwagon. Prices of these homes range between Rs. 2 to 12 crores. The homes are not only large in terms of square feet area, but also have added benefits such as Wi-Fi, swimming pool, jogging track, badminton courts, sensor locks, etc.
Thanks to technological advances, developers are able to build customized villas having amenities of international standards. Bangalore’s real estate developers have reinvented their offerings from time to time, which have further fuelled the demand for high-end residential homes.
Region wise growth of premium apartments
A series of premium apartment projects ranging between Rs. 2 to 4 crores have been undertaken in the sub-markets of places like Hebbal. Developers have chosen the place because of its prime location, good connectivity and ongoing infrastructure development. Numerous luxury houses have come up in the area between Hebbal and Yelahanka. North Bangalore has all the potential to develop as the hub of premium residential homes.
In the south, Bannerghatta Road has seen a surge in premium villas and houses priced between Rs 1.5 to 4 crores. Localities like J P Nagar and Banashankari too have seen a surge in high-end residential villas.
Premium villas have come up in the east in places like Budigere Cross, Krishnarajapuram and Whitefield Road. The price ranges between Rs 2 to 4 crores. Proximity to the city’s airport and extensive bus connectivity has added tremendous value to these areas.
Several high-end residential projects have been launched in places like Yeshwantpur and Dr Rajkumar Road. Because of presence of several retail chains and hotels, demand for villas from these places have shot up dramatically.
As of now, there are many luxury home units in the city at various stages of planning and construction. Value of luxury homes in Bangalore is much higher as compared to other metros in India. The conducive real estate scenario in the city will further propel the demand of high quality housing in coming days.