Silver lining in Bengaluru residential market; Panathur?Varthur & Thanisandra to see price appreciation of 61% & 55% respectively by 2020: Knight Frank Report
Proximity to major employment hubsto push price appreciation in Panathur?Varthur and Thanisandra regions Bengaluru, December 16, 2015:?Knight Frank India today launched the second edition of its?Residential Investment Advisory Report 2016?for the Bengaluru market. This report identifies the top investment destinations in Bengaluru for the next five years (till 2020) and also reviews the performance of the previously recommended destinations. Key takeaways
- Thanisandra, in the north, is currently priced at `4,800 per sqft and is expected to touch an average price of `7,450 per sqft by 2020.
- Panathur?Varthur, located in the east,has a current average price of `4,350 per sqft and is expected to touch an average price of `7,000 per sqft by 2020.
- Despite the presence of IT/ITeS companies, South Bengaluru, comprising areas such asKoramangala, Bannerghatta Road, Sarjapur Road and others, will witness slackened price growth due to severe traffic congestion,a lack of substantial incremental employment opportunities and poor infrastructure development.
- The industrial tag in the past and the launch of relatively higher-priced residential projects in select micro-markets presently are impacting the price momentum in West Bengaluru. While metro connectivity towards Mysore Road is expected to boost the region?s growth potential, it will require a larger quantum of incremental employment opportunities and social infrastructure before it can be considered an investment destination in the five-year horizon.
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