The Soaring Rental Apartment Culture In Bangalore
If we talk about the fastest developing and flourishing city of India, then probably Bangalore would be the first name. It is receiving a much higher momentum in terms of growth, whether in infrastructure, career growth or real-estate. The Top Notch real estate investors and MNC’s are investing their money in the city. In today’s time, all leading corporate houses have marked their presence and this has made the biggest revolution in the Bangalore as more and more people are looking forward to move there.
With the expansion of business and jobs, the demand for residential, commercial and retail buildings is escalating day by day. Along with that a rise in the number of tenants has also been noticed. In the city, one can find tremendous options from the dozens of the projects and apartments in Bangalore. All these projects offers world class amenities for a classy lifestyle with beautifully designed landscapes, open spaces, security, easy access to transport mediums and many more other luxuries. Today, Bangalore has switched into a cosmopolitan city with a population of approx… 6.5 million. It is witnessing an exceptional growth in IT field, KPO, BPO which is inevitably leading towards a boom in real-estate sector too.
Best Area for Renting Apartments in Bangalore
If you are a student or a working professional who is looking to buy or rent an apartment then you can choose a perfect place to stay from the various available options. Some of the outstanding areas for apartment’s sale/rent/buy in Bangalore include Whitefield, Sarjapur, Ulsoor, Singasandra, Hebbal and more. As per the real-estate pandit’s, the demand for rental properties is increasing tremendously due to mushrooming IT hubs and industrialisation. Bangalore’s real-estate market is getting a good growth with 9% appreciation in rental values. You can get more details here, http://www.99acres.com/articles/bangalore-insite-report-jan-mar-2016.html
The demand for 2 BHK and 3 BHK is comparatively on a higher side than 1 BHK due to more open space. The average price range for 2 BHK is 12000-18000 per month, whereas 16000-25000 for 3 BHK.
The top 3 areas where a remarkable demand of rented apartments has been observed are as follows:
Ulsoor
Ulsoor is one of the oldest areas in the city which has a very good transport network and other social amenities. The prevailing rental values in the area are:
| Type of Flat | Monthly Rent (In Rs) |
| 1 BHK | 7000-13000 |
| 2 BHK | 18000-20500 |
| 3 BHK | 34000-45500 |
Cv Raman Nagar
CV Raman Nagar is situated at the eastern side of the city in the close vicinity to the areas such as Indiranagar, Kaggadasapura. Various tech parks like cognizant, Bagmane Tech Park are also attracting lots of professionals in this area. It is the largest residential area in Bangalore, which is situated at a distance of 26 Km from the international airport.
| Type of Flat | Monthly Rent (In Rs) |
| 1 BHK | 9000-10600 |
| 2 BHK | 14000-16000 |
| 3 BHK | 18000-24000 |
Kundlu Gate
Kundlu gate is located in the central part of the city which is surrounded by various attractive natural parks and gardens. Again, Kundlu Gate area has various tech parks, due to which it is another hot spot for working people.
| Type of Flat | Monthly Rent (In Rs) |
| 1 BHK | 6000-7500 |
| 2 BHK | 12000-15500 |
| 3 BHK | 17000-25000 |
Source: 99acres
So, getting a rented flat, villa or apartment in Bangalore is now easy with the advent in new projects which are listed online with the online property websites such as 99acres.com. Certainly, the improved infrastructure, easy proximity to railway station and airport, more career options and good weather has made Bangalore a good option to invest money in the city.