Why Buying A 3BHK in Bengaluru Is A Smart Decision

At 40, Vijay Singh was elated and anxious at the same time when his boss announced his promotion. Born and brought up in Delhi, Singh had joined an IT firm in Delhi more than 15 years ago and had worked his way up the corporate ladder. With the promotion, Singh had to relocate to Bangalore and take charge of his company's headquarters there. While he was excited about the promotion, the very idea of home hunting in a new city was daunting. He was mulling over renting an apartment close to his Bangalore office, but later chose to buy a 3BHK in Bangalore's IT hub instead of getting into a lease agreement.

A goose that lays golden eggs

Investing in property in Bangalore was an option Vijay Singh had not considered before, but with steadily appreciating property prices, Bangalore is an investment hub home buyers can not miss. While in Bangalore, buyers like Vijay benefit from living close to their workplaces. In the event of future relocation, leasing or renting out a new apartment in Bangalore is an attractive option with strong returns, as demand from IT professionals in the city remains strong. Singh, for instance, is now looking forward to moving to Bangalore, as he has zeroed in on a property to buy.

More jobs mean rising demand for residential plots

Bangalore real estate market is thriving. India's very own Silicon City, Bangalore, is an IT hub. It is home to several major IT companies like Wipro, Tata Consultancy Services and Google, among others. It has also seen a number of exciting startups like Flipkart setting up offices here. As a prime IT hub, Bangalore has provided high-paying jobs to a thriving young population and the numbers have been growing over the years. The steady increase in the rate of employment has led to a consistently strong demand for homes. While there is no dearth of options, getting the right place to stay here can be an uphill task. Bangalore real estate prices tend to rise.

Size does matter

Bangalore is known for its large apartments, which are usually in the same price range as other metro cities, but are considerably larger in size. If we take the average, a typical apartment in most of the major metros in the country has an area of 1,100-1,200 sq.ft.  Compared to that, the size of an average Bangalore apartment is 1,750 sq.ft., which makes it 45% larger than the national average. This average is by far the highest in India and is closely followed by the National Capital Region (NCR) of Delhi.

Big salaries and big apartments

Studies have revealed that nearly 36% of the people in Bangalore prefer a 3BHK over 1BHK or 2BHK apartments. Most of these home buyers are mid-segment IT professionals, who earn well enough to choose comfort and luxury over cramped spaces. Most people looking for homes in Bangalore are in the age group of 26-29 years and are IT professionals. People in this group are either married and have families or are planning to settle down soon.

Convenience matters

A 3BHK in Bangalore provides ample space, more privacy and is available at competitive rates. It is also a great buy for property dealers and investors, who can rent out these apartments easily. Many students get campus placements together and while moving to a new city, they plan to stay together and prefer renting out 3BHK apartments. Naturally, the best deals for 3BHK is available in the IT hub, especially in places like Sarjapur Road, Electronic City, Kanakapura Road, Bannerghatta Road and Whitefield – all the places offer great returns on 3BHK flats among the upcoming properties in Bangalore. These areas have excellent physical infrastructure and are also close to major offices.

Research before purchase

A 3BHK in Whitefield with an area of 2,155 sq. ft. costs about Rs. 1.21 crore at the rate of Rs 5,624 per sq. ft. Projects like Sumadhura Silver Ripples offer units in excess of 400. Prices are relatively cheaper in ITPL, where you can get a home close to your workplace for nearly Rs. 57.55 lakh. Even more affordable options are available in Electronic City and Manyata Tech Park. A 3BHK in Electronic City would cost around Rs. 36.54 lakh. Research well before you invest your money. Buying a 3BHK in Bangalore is a very wise investment decision.