Wants are now becoming needs, spending powers are increasing and an unstable market isn’t really having an effect on the real estate market. As a result, people - even those who have hitherto been disinterested in real estate development - are increasingly developing an interest in buying a property. Bangalore is a cosmopolitan city and is home is a multitude of cultures and people. This has created a pretty interesting eco-system in the city, with people looking to acquire a property on merit, rather than something in an area where the residents are from your home-town or the like. An important observation noted is that in most major cities buying a 1 BHK (Bedroom, Hall and Kitchen) or 1 RK (Room and kitchen) is practical and usual. However, in Bangalore it isn’t. A hopeful home-owner will almost always opt to buy a 2 BHK (if not 3). Even though there are a number of nuclear families in Bangalore, people here choose to buy a 2 BHK and keep the other room for guests, visiting relatives, or parents. Besides, 1 BHKs in the best areas usually are priced around 20 lakhs less than a 3 BHK. Somehow, a psychological effect with regard to the idea of “adding another 20 lakhs to get a 2 BHK” gets factored. For most Bangaloreans looking to buy a house, the budget and the locality matters the most. So what are these localities? If budget homes are what Bangaloreans are looking for, what localities should one look at to find them? We list down some of the best localities in Bangalore to buy a budget home in the silicon city.
Devanahalli: Apart from being known as the birthplace of Tipu Sultan, Devanahalli didn’t really have too much going in its favour. That was until the international airport was built there. Now, despite being 40 kilometres north from Bangalore, Devanahalli is one of the biggest draws for real estate investment. Apart from its proximity to the KIAL (Kempegowda International Airport), the area is growing into a hub for the city’s IT industry. Hotels have gauged the potential and have sprung up as a result in the area. Devanahalli is also witnessing the development of the upcoming Financial City - a 1000 crore financial district where a number of banks have already acquired plots. The government is planning to connect the airport via the Metro - a piece of news that can spell hysteria if realised. For potential home-owners a 1 BHK in the area ranges between 30-35 lakhs, while 2 BHKs are priced between 45-55 lakhs.
BTM Layout: Here’s a bit of trivia - BTM stands for Byrasandra, Taverekere and Madivala. Of course, that is all not the area is known for, it’s proximity to Bommanahalli, Koramangala, JP Nagar and Banashankari makes it a highly preferred choice for those looking to buy a home in Bangalore. BTM is well-populated with schools, colleges, restaurants, and due to its proximity to major areas, options for entertainment (like malls and movie halls) are plenty. Connectivity is great too with buses plying to the area often from the two major bus-stands in the city. These factors render BTM a little on the expensive side, with 2 BHKs ranging from 55-75 lakhs. However, if you look well enough, you are likely to find new builders with lesser ad spends who may have properties going for between 35-50 lakhs.
Jayanagar: This has for long been one of the most popular places in Bangalore. It is often referred to as a place that has undergone changes as a result of modernisation, and yet has retained some of the charm of the Bangalore of yore. As for the area, it has almost everything - educational institutes, malls, theatres, restaurants, hospitals, major bus-stops, et al. Commuting is easy too, as a number buses ply to the area, and even auto drivers don’t mind travelling to “4th block” - the hub of the area. Here too, the prices are on the higher side. You’ll even find some places being priced at over a crore. However, if you look well enough, you are bound to come across 2 BHKs priced between 45-60 lakhs.
Malleshwaram: Located barely 4 kilometres from Majestic, connectivity is not a problem. To add to that, the Metro has made things much smoother than before. That apart, Malleshwaram has always been an extremely desirable area to live in with its houses, locality, connectivity, and entertainment options. The area can be actually split into two zones - east and west. The western part of Malleshwaram is a bit too high priced (90L-1.5 crore) whereas east has more budget options. Within the eastern part, prices further differ based on sizes. You can get a 2 BHK between 50-60 lakhs in east Malleshwaram.
Marathahalli: If Bangalore is the IT capital of India, you could call Marathahalli the IT “capital” of Bangalore! It sports a number of IT companies and with surrounding areas such as Whitefield and ITPL, thousands of Bangaloreans work in the area. There are a number of malls on the ring road, apart from movie plexes, restaurants and more. Traffic has been a bane for a number of commuters and hence, it makes sense to find a place within the area, to cut down on spending large amounts of time in traffic. Marathahalli also includes areas such as Doddanekkundi and Karthik Nagar, which is why the prices of houses are diverse. You will find 2 BHKs between 35-40 lakhs in one of the inner zones in one of these areas. And you will also find houses priced at 60 lakhs in some of the areas that are close to the ring road. However, a budget of 50 lakhs is likely to get you a good house, close to the ring road. If you’re lucky, a bus stop might be within walking distance to save you the trouble of driving yourself, or hauling a cab or auto.
Careers, families, lives - they’ve all been built in Bangalore. It’s time for homes. Go for it if you have the desire and financial freedom.