Plots in real estate terms mean that there are parcels of land which are meant for non-agricultural purposes such as residential, commercial or industrial. If there is a plot meant for agricultural purpose, then first of all the land use purpose for the particular plot in question has to be converted to residential, commercial or industrial use. If this is not done then it is illegal to sell the plot for non-agricultural purposes. So if the sale price of a plot is below market rate then it is likely to be an illegal plot for sale.
Rapid migration; high growth in IT/ITES hubs; constant infrastructure up-gradation; pleasant and equitable climate; and environment have been the decisive reasons for the exponential expansion in Bangalore’s real estate. This is a macro level picture portraying the overall causative factors for the city’s evolving realty market.
However, a closer look at the key micro-market behavior would reveal the decisive factors that would go into investment decision-making. The three key micro-markets taken into consideration are Hennur Road, Kanakapura Road and Thanisandra plots in bangalore.
Hennur Road has emerged as an attractive investment destination in North Bangalore for the following reasons:
• Connectivity to KIA
• Expansive real estate development
• Affordable values
• Proximity to popular localities such as Kalyan Nagar, Banaswadi, Hebbal and HBR Layout.
There has been a growth in the average capital growth of four per cent in past two years and buyers are prospecting in this locality. As the locality is still in the developmental phase, developers are offering multiple housing opportunities across different budget categories. Although there are many under-construction projects, buyer prefers to go in for ready-to-move ones or those nearing completion.
Till about a few years back, Kanakapura Road was a sleepy suburb of Bangalore. Lately it has become as one of the top investment destination for home buyers. The reason being it is well-connected to Jayanagar, J P Nagar and Banashankari. There is more than enough supply of residential projects by reputed developers overall budget categories, making it suitable for buyers from all walks of life.
Thanisandra is located in north Bangalore. It was a tourist hub and is now a residential market for the following reasons:
• Smooth connectivity with Bellary Road, Hennur Road, Old Madras Road, Whitefield and the Central Business District
• Scheduled PRR and Metro Rail projects plots for sale in bangalore.