Bannerghatta Road Overview
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The demand for residential and commercial premises in Bannerghatta Road has been on the upswing since the last six to seven years. This has been primarily due to the influx of people who have migrated to the city for work and find the close proximit...y to a growing number of IT and BPO companies in and around the region to be a great benefit. Though the roads in this locality are narrow with high traffic adding to the woe, this problem will also subside, once the on-going Namma Metro line becomes operational. In addition to this, the proposal to widen roads and build more flyovers and underpasses was also recently announced by the Bruhat Bangalore Mahanagara Palika. All these infrastructural developments are further expected to spike demand for property and hike real estate rates. The demand for residential spaces in Bangalore has increased in the last five years with the demand for properties by Indian-based NRIs increasing by over 25%. This locality will definitely see significant growth and ROI, and investors are likely to enjoy between 10 to 12% returns.
Average apartment prices in this locality range from Rs. 3500/- to 6000/- per sq. ft. Average land prices are Rs. 15000/- per sq. ft. Major builders in this area include: Prestige Group, Brigade Group, Mantri Developers, Radiant Group, Innovative Infra projects, Reddy Structures Pvt Ltd, Valmark Group. The growth rate in this area is 10%.
Stamp Duty is 5%, Registration Fees are calculated at 1%
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