Flats Under 3 Crore for sale in Pragathi Nagar Basapura, Basapura, Bangalore

• Bangalore, prominently known as the Silicon Valley of India, has a huge IT corridor.
• The rising number of IT companies is leading to a huge influx of working professionals from all over the country.
• Bangalore presents diverse housing options, ranging from independent houses to apartments, open plots, and villas.
• Compared to Mumbai, Bangalore offers relatively affordable housing options and a lower cost of living.
• Bangalore is an unsaturated residential and commercial market with an array of spacious inventories.
• The residential demand is high in Bangalore due to the increasing commercial infrastructure.

• Bangalore is pioneering in residential launches and sales following Mumbai.
• Bangalore residential market displayed resilience with maximum sales of inventories.
• It ranked fourth in terms of property sales in 2024 among the top 7 cities in India.
• Premium and luxury properties are more in demand among homebuyers.
• Homebuyers are also willing to rent a spacious residence in the premium gated community.
• The demand for the affordable housing segment is gradually decreasing in prime areas of Bangalore.
• Developers in Bangalore are also responding to the increased demand for premium properties with new launches.
• Bangalore witnessed a price appreciation between 10% - 12% in a year.
• The under-construction properties in Bangalore are earning more price appreciation than the ready projects.
• Bangalore has exceptional projects by esteemed builders like Brigade Group, Sobha, Bhartiya City Group, Godrej Properties, Provident Housing, Sumadhura Group, Sowparnika Group, Prestige Group, Purvankara, etc.
• The ₹ 1 Crore - ₹ 2 Crores housing segments reinstated its dominance in the Bangalore market.

• South Bangalore continues to lead the residential market with the highest sales.
• North Bangalore followed South zone in the maximum sales of inventories.
• Meanwhile, East Bangalore witnessed the highest capital appreciation at 11%.
• South Zone is also leading owing to its proximity to the prominent commercial places.
• The stronger housing demand from the high-net-worth individuals has been the driving force for the price appreciation in Central Bangalore.
• Whitefield, Electronic City, Koramangala, Sarjapur Road, and Thanisandra Road are the prominent localities with the presence of IT hubs and startups.

a) Rising Localities In Bangalore For Property Investment 

• The properties in Whitefield, Electronic City, Old Airport Road, Bellandur, and Indira Nagar saw a remarkable price growth last year.
• In South Bangalore, Yelahanka, Baglur, Koramangala, and Thanisandra Road have witnessed a high number of property launches.
• The IT infrastructure and emerging multinational companies in South Bangalore are appealing to homebuyers.
• Devanahalli, Hebbal, and Bellary Road are emerging as the prime investment destinations in the North with their proximity to the Kempegowda International Airport. 
  
   

b) Best Affordable Localities In Bangalore For Rental Properties

• Several micro-markets in Bangalore attract a huge number of tenants due to its IT hubs and manufacturing base.
• Apart from the prime areas, homebuyers also prefer outskirt regions like Hoskote, Budigere Cross, Hebbal, Hennur, and Kanakapur.
• These peripheral regions offer affordable rental options along with excellent connectivity.
• The varying rental values of these affordable localities in Bangalore are as mentioned below:

• The property prices in Bangalore have been on an upward trajectory since the last few years.
• The emerging startups and IT hubs are accelerating the capital values in core areas of Bangalore.
• The property prices in Bangalore grew by 12% with resilient demand for premium properties.
• The properties priced above ₹ 1 Crore are mostly preferred by homebuyers.
• The preferences of homebuyers are shifting towards high-ticket housing options for larger layouts and better amenities.
• The consistent demand for the properties in Central Bangalore and peripheral regions of completed metro phases has led to price appreciation.
• The rental growth of 10% in Bangalore reflects the growing demand for rental properties among working professionals.
• The Eastern and Northern regions in Bangalore experienced the highest rental growth of 19% and 18%, respectively.

• The prices in Bangalore for under-construction properties and completed properties rose by 25% and 19%, respectively, on a yearly basis.
• The properties in East Bangalore are priced between ₹ 7,000 - ₹ 15,000 per sq. ft.
• The properties in South Bangalore are priced between ₹ 6,500 - ₹ 15,100 per sq. ft.
• The North Bangalore properties are priced between ₹ 7,000 - ₹ 13,400 per sq. ft.
• The Central Zone presents properties ranging between ₹ 9,200 - ₹ 30,000 per sq. ft.

• Bangalore has a rapidly developing transport infrastructure.
• The Outer Ring Road is a major connectivity source across various localities in Bangalore.
• The operational Green and Purple Lines of Namma Metro have made commuting easy to workplaces.
• The upcoming Yellow metro line will also ease the traffic congestion and simplify the travelling experience.
• Bangalore has an excellent railway network with Yeshwanthpur and Bangalore Cantonment being a few of the major railway stations.
• Kempegowda International Airport is the vital source of connectivity for the high-net-worth individuals and the working class.
• The airport has accelerated the property demand in North Bangalore.
• Apart from this, Bangalore Metropolitan Transport Corporation buses are an affordable and extensive connectivity option in the city.

• Along with esteemed IT hubs and companies, Bangalore is a home to some notable educational institutions.
• Manipal University, Azim Premji University, Bangalore University, Amity University, National Law School of India are the prestigious educational landmarks.
• Fortis Hospital, Manipal Hospitals, Aster CMI Hospital, and Omega Multispeciality Hospital are the advanced medical institutes in Bangalore.
• It offers an array of shopping outlets like Esteem Mall, Lulu Mall, The Galleria Mall, Phoenix Mall of Asia, etc.
• Manyata Tech Park, Bharatiya Centre of Information Technology, Bagmane IT Park, International Tech Park, and Fortune Submit Business Park are the major commercial hubs.
• There are many recreational spaces in Bangalore, including Lalbagh Botanical Garden, Bengaluru Palace, ISKCON Temple, Jawaharlal Nehru Planetarium, ASC Golf Course, etc.

• To decongest the traffic on the existing Outer Ring Road, there is a plan for the Peripheral Ring Road in Bangalore.
• The work of Bangalore Mysore elevated corridor is on swift progress, which will enhance connectivity between these two cities.
• The upcoming Yellow, Blue, and Pink Lines of Namma Metro will be beneficial for the working class to commute to their workplaces conveniently.
• There are several upcoming startups and IT companies in the emerging micro markets of Bangalore.
• The upcoming Satellite Town Ring Road will reduce the traffic hurdles incoming to Bangalore.
• Also, there is a proposal for a 4-lane expressway between Bangalore and Chennai to seamlessly connect the two states.

• Micro markets on the outskirts, such as Whitefield and Devanahalli, will see a surge in demand and price growth.
• Yelahanka, Bagalur, and Thanisandra are a few of the prime locations to invest in North Bangalore.
• The presence of the airport and emerging commercial hubs is an advantage of North Bangalore.
• Panathur Main Road is an emerging locality, having proximity to major IT hubs in Bangalore.
• Sarjapur Road is also one of the preferred destinations for investments due to its closeness with the Outer Ring Road and commercial hubs like Electronic City, Koramangala, CBD.

• With the presence of Kempegowda International Airport, the increasing number of offices in North Bangalore will drive the residential demand in this region.
• The demand for upscale residential options will continue to grow due to the evolving demand from high-net-worth individuals and entrepreneurs.
• Homebuyers are also shifting their preferences from the affordable properties to the premium and luxury segments.
• The demand for properties under ₹ 50 Lakhs will continue to decline in Bangalore.
• The demand for premium properties on the outskirts of Bangalore will increase due to their affordability and expansive layouts.
• Post completion of the ongoing metro lines and the Peripheral Ring Road, the properties in Sarjapur Road, Yelahanka, Hosur, Kanakapura Road, and nearby areas will witness a huge price appreciation.
• The property rates of luxury properties will increase by 3% - 4% due to significant demand and project completions.

• Which are the posh areas in Bangalore?
  Sadashivnagar, Koramangala, Whitefield, Indiranagar, Electronic City, HSR Layout, and Banashankari are some of the posh localities in Bangalore. They have well-laid infrastructure, civic facilities, excellent connectivity options, and remarkable commercial opportunities. Sadashivnagar is known to house celebrities and famous personalities. 
   
• What is the average salary required to reside in Bangalore?
  The average salary required to reside in Bangalore could be between ₹ 40,000 - ₹ 1,20,000 per month for general homebuyers. The required salary completely depends on your lifestyle choices, location, project type, family members, etc. For students and young professionals, it is better to opt for a PG accommodation than renting a property. 
   
• Is it best to invest in Bangalore now?
  Investing in Bangalore now will assure you of a lucrative return on investment and a good rental yield. The average property rates in Bangalore are assumed to grow by 8% by the year end. The rapidly growing infrastructure and extensive commercial corridor have made the city a thriving destination for residential investment. The Bangalore market still offers housing options at relatively lower rates than other markets. These housing segments will experience exponential price appreciation by 2030. 
   
• Which are the growing areas of Bangalore for property investment?
  There are numerous emerging hotspots for residential investment in Bangalore. Sarjapur Road, Devanahalli, Yelahanka, Bellandur, KR Puram, Thanisandra, Yeshwanthpur, Hebbal, Panathur, etc. The areas are flourishing with ongoing infrastructure developments and have proximity to the key commercial hubs and IT parks. 
   
• Which is better for working professionals in Bangalore, PG or rented flats?
  The newly migrated working professionals should consider staying in PG accommodations. PG is always an affordable option rather than renting an entire apartment. The rental properties near the IT hubs are costlier than on the outskirts. Thus, if someone is looking for a residence with excellent connectivity and nearby workplaces, then opting for a PG accommodation is the feasible option.