PropTiger Data Labs: Bengaluru's Hottest Localities In HY 2015 [Infographic]

(H) Layout is a recently developed suburb. Its strategic location, with proximity to commercial areas of Electronic City, Sarjapur and Whitefield in Bengaluru, drives up the demand for residential real estate here. According to PropTiger.com's Bengaluru Residential Micro Markets Snapshot, released earlier this week by its Data Labs division, HSR Layout is the hottest locality in Bengaluru owing to steep demand, affordable real estate prices and lower levels of inventory overhang when compared to other localities on the same parameters. The suburb has an inventory overhang of 12 months, weighted average absorption price of Rs 4,771 per sq ft, and a livability score of 89.3 on a scale of 100.

Here are other highlights on the major localities, which made the cut to top 15 in the report: 

• Real estate prices are the lowest in Kengeri (weighted average absorption price of Rs 3,415 per sq ft), Bommanahalli (Rs 3,857 per sq ft), and HSR Layout (Rs 4,771 per sq ft). Real estate prices are the highest in Sadashivanagar (Rs 25,000 per sq ft), Vasanth Nagar (Rs 24,500 per sq ft), and Fraser Town (Rs 10,606 per sq ft). 
• In this quarter, unsold inventory is the lowest in JP Nagar Phase 5. Other localities where unsold inventory is low are Uttarahalli (7 months) and Kannur (8 months). Unsold inventory is the highest in Vasanth Nagar (21 months), Bomanahalli (20 months) and Konanakunte (19 months). Unsold inventory in localities surveyed are typically higher than 10. 

• The most livable locality is Nagar (A livability score of 93.5 on a scale of 100), though residential property prices in Nagar (Rs 9,413 per sq ft) are lower than in Sadashivanagar (92.8) , the most expensive locality surveyed (Rs 25,000 per sq ft). However, Sadashivanagar is the second most livable in the list. In livability, Malleshwaram (92.5) comes next, where the weighted average absorption price is Rs 8,500 per sq ft.
• The least livable localities are Kannur (Livability score: 72.3, Weighted average absorption price: Rs 5,381 per sq ft), and Kengeri (Livability score: 77.9, Weighted average absorption price: Rs 3,415 per sq ft).

In the study conducted by PropTiger Data Labs, Bengaluru's micro markets were ranked on the basis of weighted average of three parameters: livability score, inventory overhang and absorption/supply ratio. While calculating the weighted average, each of these parameters were multiplied by a factor that reflects its correlation with the health of the micro market.

Livability score is on a scale of 100, based on the weighted average evaluation of the social infrastructure in a locality. Inventory overhang is the number of months it will take for the unsold units to be sold off at the current rate of absorption. Absorption to launch ratio is the sales in the first half of the calendar year 2015 as a percentage of the number of units launched.