February 2, 2014
Property prized in HSR Layout
The infrastructural development in the city of Bangalore can be majorly attributed to the rapid advance in the IT sector which led to massive developments. The overall picture of Bangalore has changed over the years and buying a house in a decent locality can cost quite an amount here. Over the years high profile areas like the HSR Layout, are experiencing an increased demand and buying a 3 bhk flat in HSR Layout is the aspiration of many.
The Hosur Sarjapur Road Layout is a host to lots of commercial activities and inter connects many posh areas of Bangalore. This suburban colony has established itself in the realty market and currently remains on high charts as far real estate investment goes. Adjoining two well-known residential areas like the Jaya Nagar and Koramangala, the HSR layout has become the first option for young professionals looking for a decent, well-furnished accommodation near their professional hubs or inter-connecting commercial areas.
Looking at the response that the area got from buyers and investors alike, the builders and banks made this a focus area leading to massive buying of 2/3 bhk flats in HSR Layout. The area is well connected to all the parts of the city and provides the buyer facilities available in a posh locality. The IT boom brought with itself key demand for houses near the commercial and professional hubs for the professionals and the property that developed here fulfilled that requirement.
The area was majorly developed as a residential hub with greenery and plush environment being an integral part of the same. The constructions that came up here were modern, well developed and apt for the new buyer. Each Sector has its own market, commercial hubs and good connectivity sources. Buying a 3bhk flat in any of the sectors in HSR Layout can be expensive and the prices vary as per property per se. The recent property prices range between Rs 3200 per square feet to Rs 5800 per square feet (January to June 2013 figures). All the seven sectors of HSR Layout have different USPs and significance. But buying property in anywhere here is a win-win situation.
Looking at the property trends one can see a bright future for this arterial suburb and road. Right from the word go the prices have been up and they may correct a bit but not likely to come down massively. The demand for houses is more than supply and hence, the prices are exorbitant and touching the sky. Growth trends beat various other cities across the country, and they range between 12 to 125 per cent on a quarterly basis. But these figures can be misleading too, as there is a lot of speculation in the market and prices are inflated in certain cases.
Though the growth is tremendous and the future seems bright, but realtors caution that before investing, it is always advised to consult a real estate expert. The market has reached the optimum growth level here and soon will be headed for correction, hence, may be its better to watch out rather put in money now or may be in case one finds a good deal at a reasonable price, invest money in. After all, a 3bhk flat in any of the sectors in HSR Layout can reap rich rewards and guarantee good returns. As we have seen in the past, the areas well-connected to commercial hubs, posh colonies, and professional hubs remain hot property always and forever; and HSR Layout fulfills all the criteria.
(The author has been tracking the real estate sector for eight years for leading television channels and print media.)