The city of Bangalore has shown tremendous growth over the past few decades. Over the years, the city’s booming IT industry has transformed it from a haven for retirees 60+ to a dream destination for young professionals 22+. This IT revolution has changed every other aspect of the city, be it its infrastructure or connectivity. An industry that has gained maximum prominence due to the transformation of the city is real estate.
With the increasing number of young professionals migrating to the city each year and with better incomes, the demand for residential units in the city is increasing. However, people tend to get confused about choosing a house in growing North Bangalore or already established South Bangalore.
Bangalore is also home to the third highest number of High Net Worth (HNI) individuals and has more than 10,000 individual dollar millionaires who tend to buy real estate for investment purposes.
Although North Bangalore has gained tremendous momentum after the establishment of the Bangalore International Airport, the high price trends in the area make it increasingly inaccessible to the middle income group. Betting on future prospects, areas like Hebbal, Yelahanka and Doddaballapur Road are seeing the biggest price appreciation despite the fact that these localities lack quality infrastructure. However, the area’s proximity to a number of technology parks, which are home to some of the largest multinational companies operating from the city, is prompting a number of professionals to buy their homes here. The area is also very well connected to the big city by road and rail. The planned Peripheral Ring Road (PRR) is also expected to work in favor of residential areas here. Therefore, real estate players are betting big in this area and are building both apartment complexes and villas. While professionals go for apartments, HNIs, who tend to buy second homes, prefer luxury villas in North Bangalore.
South Bangalore, on the other hand, has already established infrastructure, especially in areas like JP Nagar, Jayanagar, Banashankari, etc. The ongoing Metro Rail Project is also expected to improve the infrastructure on Kanakapura Road. There are a greater number of affordable and mid-range apartments in South Bangalore for sale than in its northern counterpart. Additionally, its proximity to the city’s largest tech hub along the Outer Ring Road (ORR) makes it a preferred destination for the upper-middle class and middle-class working professionals.
The ongoing debate over North vs. South Bangalore does not appear to be resolved anytime soon. However, when buying a property, one must exercise their own reasoning and take into account all the pros and cons of both areas. While North Bangalore looks lucrative from an investment point of view due to its future prospects, South Bangalore promises to ensure a comfortable life thanks to its prosperous infrastructure.