Newspatrolling.com News cum Content Syndication Portal Online
Bengaluru, 8th November 2024 : South Bangalore is rapidly emerging as a prime real estate hotspot, with demand, capital appreciation, and rental growth soaring beyond expectations.
With a remarkable 15.1% year-on-year (YoY) increase in demand, South Bangalore is setting the pace for the city, far surpassing Bangalore’s overall market growth of 3.41%, shared Magicbricks, India’s leading real estate portal.
The portal further shared that South Bangalore’s real estate market has seen an impressive capital appreciation rate of 23.5% YoY, outpacing Bangalore’s average of 20.9%. Property rates in South Bangalore have surged by 14% in just nine months, climbing from ₹7,177 per square foot in January-March (JFM) 2024 to ₹8,205 per square foot in July-September (JAS) 2024.
This surge reflects the market’s dynamism, with property prices continuing to rise, making it a prime location for buyers to invest before prices increase further.
The portal further observed that South Bangalore remains a strong market for 2 and 3 BHK homes, which are highly sought after by families and professionals alike. The average price for a 2 BHK unit is ₹7,595 per square foot, with prices ranging from ₹69.2 lakh to ₹82.7 lakh, depending on unit size. For a 3 BHK home, the price averages ₹9,970 per square foot, with a price range of ₹1.48 crore to ₹1.9 crore.
Kanakapura Road stands out as a premium locality with property prices around ₹9,380 per square foot, providing a serene environment surrounded by nature and cultural heritage. JP Nagar and Bannerghatta Road present more affordable options, with prices at ₹8,350 and ₹7,300 per square foot, respectively, making them ideal for families looking for developed infrastructure and easy access to essential services. Electronic City, priced at ₹5,950 per square foot, remains an attractive option for investors and first-time buyers due to its proximity to major IT and industrial hubs.
