North goes North, South goes South in Bengaluru real estate

Bengaluru: Planning to invest in residential property in startup town of Bengaluru? A residential investment advisory report has some advice to offer. Thanisandra in north and Panathur-Varthur in east are two areas identified to grow in terms of real estate and see a price appreciation in the next five years.

According to the report by global property consultancy firm Knight Frank, despite the presence of IT/ITeS companies, South Bengaluru will witness slackened price growth due to severe traffic congestion, lack of substantial incremental employment opportunities and poor infrastructural development.

Thanisandra, in the north, currently priced at Rs 4,800 per sqft is expected to touch an average price of Rs 7,450 per sqft by 2020.

Optimum employment opportunities, enhanced physical infrastructure, easy access to social infrastructure, the upcoming Metro Rail node at Nagawara and the scheduled Peripheral Ring Road project are factors that will drive the price up in Thanisandra, the report says.

Panathur-Varthur, located in the east and has a current average price of Rs 4,350 per sqft, is also expected to touch an average price of Rs 7,000 per sqft by 2020.

The report highlights its proximity to two major employments hubs in the city – Whitefield and Outer Ring Road stretch, the upcoming connectivity of the Metro Rail at Kundanahalli and the PRR project to add to the area’s investment potential.

Panathur-Varthur region in Bengaluru ranks fourth nation-wide for expected price appreciation at 61 per over the next five years.