We have talked about the software boom and its effects on property
prices. If the software industry fuelled the real estate boom
in Bangalore, quality constructions have helped maintain prices when
other cities are witnessing a decline. Given that real estate prices
in the Garden City will continue to be driven by the information
technology sector, there are two major issues that could hinder future
growth:
The perennial shortage of power
The bad condition of roads
Over the years, these two factors have reduced the city's popularity
across the world. Despite this, Bangalore has been ranked as the
sixth most popular IT destination, globally. With corporate Karnataka
and the government joining hands to set these short comings right,
it looks like boom time is just around the corner for the Bangalore
realtor.
Rentals for commercial space ranges between Rs 5 and Rs 15
per square foot in Jayanagar, as the area has developed into a busy
business centre, thanks to the spurt in commercial activity. For
the peace loving, retiring residents, Jayanagar is still the place
to be, as it is largely self-contained and comes with good educational
institutions like the National College and the Rashtriya Vidyalaya
High School for Girls.
An ideal residential area, Banshankari boasts of some good
schools and is a 20-minute drive away from the city-centre,
this locality provides a wide range of choices for the real estate
investor too. Flats are available from Rs 10 to Rs 20lakh
depending upon the size and add-ons.
Yelahanka, situated about 20 kms from MG Road, has
a varied rate in the locality itself between a very cheap Rs
565 to an up-market Rs 16,000 per square foot.
Here is a chart stating which area has what residential rates and
rentals:
Areas
Residential Rates
Rental
Banshankari
850-1500
1500-8000
Jayanagar
1250-1600
2000-12000
Indira Nagar
1300-1700
1750-10000
Basavangudi
1200-1600
2000-10000
Yelahanka
550-1600
500-5000
Rentals are indicative for flats of one to three bedrooms prevailing
in
December 2000.
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