Hebbal - The New Residential Real Estate Destination
One of the most important realty destinations of north Bangalore Hebbal has truly come to the forefront of real estate in the past few years. There has been a many new projects in Hebbal mostly restricted to residential projects. These housing units again include apartments and flats for sale in Hebbal centered on the scenic Hebbal Lake. One might think that considering the distance to central Bangalore and various other factors, pricing in Hebbal will be reasonable and affordable. But that is not the case. Many builders have identified Hebbal as one of the key luxury real estate markets in North Bangalore with many units priced anywhere between, INR 1 crore to INR 2.5 crore. "In the Hebbal micro-market, availability is low in the Rs 60- to Rs 90-lakh segment, and the new products being launched are in the higher price segment of above Rs 1 crore," says Karun Varma, MD (Bangalore & Kochi), Jones Lang LaSalle India. Hebbal will emerge as a high end premium residential address in suburban Bangalore.
Builders are looking to concentrate in developing townships and bigger residential apartment projects with all facilities within the campus considering the fact that the area is still quite far flung from central Bangalore and the aim of the builder will be to avoid commute to CBDs (Central Business Districts) as much as possible. J C Sharma of Sobha Developers says, "This stretch will be the new M G Road of Bangalore." Jitendra Virwani of Embassy Group adds, "Hebbal is where the new Bangalore is going to be. Hence, the demand.‚¬
Bellary Road is key to many infrastructure projects in Hebbal. Physical and social infrastructure like schools and colleges and healthcare facilities will be centered on this particular road. The area with all the new projects coming there will be the center of social activity in Hebbal. But many might ask, why would home buyers with a high spend power choose to buy a home at Hebbal. "Basically, you are targeting the second-home buyer who can't afford to buy on Palace Road or in Sadashivanagar or in any of the other central locations," says Cherag Ramakrishnan of Equinox Realty.
Many investors in Bangalore are looking to buy second homes in the suburban areas. Projects in scenic areas of Hebbal are in much demand. Gated communities in these areas have a good luxury value in suburban Bangalore. There is also a shortage of high end properties in the city, due to several factors are availability of space. Luxury properties come with a very huge price tag in the city and are not affordable by many home buyers. Real estate biggies like Godrej Properties have already have new projects in Hebbal and its localities like Bellary Highway near Hebbal Flyover. These projects are priced at an average of INR 2 crore. The average prices of flats for sale in Hebbal today are anywhere between, INR 5000 to 8000 per square feet. A lot of influx of investment has been seen from investors from Delhi and Mumbai in Hebbal. The builders and end users have both shown key interest in high end projects in this region.
Builders are looking to concentrate in developing townships and bigger residential apartment projects with all facilities within the campus considering the fact that the area is still quite far flung from central Bangalore and the aim of the builder will be to avoid commute to CBDs (Central Business Districts) as much as possible. J C Sharma of Sobha Developers says, "This stretch will be the new M G Road of Bangalore." Jitendra Virwani of Embassy Group adds, "Hebbal is where the new Bangalore is going to be. Hence, the demand.‚¬
Bellary Road is key to many infrastructure projects in Hebbal. Physical and social infrastructure like schools and colleges and healthcare facilities will be centered on this particular road. The area with all the new projects coming there will be the center of social activity in Hebbal. But many might ask, why would home buyers with a high spend power choose to buy a home at Hebbal. "Basically, you are targeting the second-home buyer who can't afford to buy on Palace Road or in Sadashivanagar or in any of the other central locations," says Cherag Ramakrishnan of Equinox Realty.
Many investors in Bangalore are looking to buy second homes in the suburban areas. Projects in scenic areas of Hebbal are in much demand. Gated communities in these areas have a good luxury value in suburban Bangalore. There is also a shortage of high end properties in the city, due to several factors are availability of space. Luxury properties come with a very huge price tag in the city and are not affordable by many home buyers. Real estate biggies like Godrej Properties have already have new projects in Hebbal and its localities like Bellary Highway near Hebbal Flyover. These projects are priced at an average of INR 2 crore. The average prices of flats for sale in Hebbal today are anywhere between, INR 5000 to 8000 per square feet. A lot of influx of investment has been seen from investors from Delhi and Mumbai in Hebbal. The builders and end users have both shown key interest in high end projects in this region.
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