Affordable Housing in Bangalore

In real estate segment, luxury housing, ultra-luxury housing, villas, villaments and condominiums are the new buzz words that are tempting buyers to buy property.  But, today in most of the metros, developers are seeking suburban areas to launch their residential projects, be it luxury or affordable housing. With the emergence of strong middle class segment post 2009, the real estate market has been witnessing the demand for affordable housing, reports Magicbricks.com.

 


1) Affordable housing scenario in suburban areas of Bangalore

 
The real estate market has been witnessing the demand for affordable housing and considering the fact, developers are also showing interest and coming up with affordable housing projects which include premium facilities of price range between 19 lakh to 40 lakh, particularly to attract this mid-sized section. Outskirts are developing at fast pace in the city. With improved infrastructure and well connected roads, these outskirts are offering good housing option for buyers. Suburban areas with strong industrial growth are a good option for affordable housing units because the employees of these industries are the major drivers for affordable housing markets.
2) Affordable housing scenario in North Bangalore:

 
The new international airport road and its surrounding stretches are picking up demand in affordable housing market. Some of the areas like Jalahalli, Peenya, Yelahanka, Sahakarnagar, BEML Circle, Devanahalli, and Doddaballapur road are likely to get affordable housing options within a price bracket of 20-25 lakhs. For North Bangalore zone, the potential locations for affordable housing options are Yehalanka-extended to Doddaballapur main road and the Hennur-Banaswadi road. In and around areas of Devanahalli upto Doddaballapur road are offering price quote of about 20 lakhs, these areas are 40km away from the city centre.  Future developments in the field of hardware, logistics and warehousing, textile, IT and non-IT SEZs are expected to drive the growth for affordable housing in these areas.
3) Affordable housing scenario in South Bangalore:

 
In south Bangalore, most of the affordable housing activity is centered on the Sarjapur main road-extended to Sarjaour village and the Sarjapur Outer Ring road. With the emergence of improved social infrastructure including malls and international schools, these areas are witnessing potential real estate growth both in luxury and affordable housing options.  Attibele area has emerged as one of the potential areas for affordable housing because of improved social infrastructure. Localities near Kanakapura Road, Bannerghatta Road, Hosur Road, Anekal, Jigani, Begur, and Electronics City offer better options to own budget apartments in the city, with a price range between 24 to 40 lakhs.
4) Affordable housing scenario in East Bangalore:

 
In the eastern side of Bangalore, Hoskote industrial belt on NH-207 stretch is rapidly emerging as an affordable housing belt. Beside this, Whitefield and Kadugudi areas are also witnessing growth in budget residential units as developers are showing interest on these locations to launch affordable housing projects.

 
5) Affordable housing scenario in West Bangalore:

 
The locations for affordable housing options towards the West Bangalore are Mysore Road, Rajarajeshwarinagar, Kengeri, and Magadi Road. New industries are setting up their base along the Tumkur road, which will further increase the demand for budget housing. Kempegowda Layout is one example for budget housing, which shelters both residential and commercial establishments.