Demand For 1bhk Units In Marathahalli And Kundalahalli

By Author: Gaurav Verma
Total Articles: 15
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Demand for 1 BHK apartments is increasing in the city of Bangalore. With steep prices in the central localities of Bangalore, the attention is shifted to newer destinations. The IT professionals usually prefer the smaller sized apartments near their workplaces. Everyone is aware about the city being the IT center of India. Whitefield, ITPL and Sarjapur are the locations with concentration of IT organizations. Localities near these are being developed and the two areas that have risen to prominence are Marathahalli and Kundalahalli.

Marathahalli and Kundalahalli

Marathahalli and Kundalahalli are two growing residential hubs in India. These localities are near the IT workplaces and as such witness considerable demand from the IT professionals. The demand for 1bhk apartments in Bangalore is more in these localities. Both of these residential hubs are adjacent to each other.

Demand for 1BHk Apartments

One of the executives from a Bangalore based realty firm explained the rising demand for smaller sized residential property. The single professional working in IT companies and earning less ...
... than Rs 50,000 per month find it a smart option to buy a 1 bhk apartment rather than living on rent. Rentals are more in Bangalore as compared to paying monthly installments. Property prices in these localities for 1 bhk flat in Marathahalli and Kundalahalli is somewhere between at Rs 16-18 lakh in the resale market. The 1bhk property covers an area of 600 to 700 square feet.

Rented1 bhk is not available in Bangalore. Few units are available and the rent is Rs 10,000- 12,000 per month. Rental values for 2 bhk apartments in Bangalore is Rs 18,000-25,000 per month and customers opting for 3 bhk on rent will have to shell Rs 30,000-40,000 per month

Who are the Buyers?

The buyers are mostly from professionals working in companies JP Morgan, ITPL and other located in Sarjapur Road to Whitefield stretch. Property agents in Marathahalli and Kundalahalli say that enquires for 1bhk units is more for these areas.

Advantages of Buying Properties in Marathahalli and Kundalahalli

Most of the buyers prefer the localities because of excellent connectivity. Marathahalli and Kundalahalli offers developed infrastructural facilities. Both these localities have hospitals, schools, shopping centers and banks. The localities are linked to in East Bangalore through Old Airport Road, Outer Ring Road and Marathahalli Bridge.

The Demand is more for 1bhk units is more. However, contrary to the increase in demand, no new launches are happening in these localities. The new planned projects coming in these areas have 2bhk and 3 bhk units. The property prices prevailing Rs 3,000-4,500 per sq ft for residential units here.

Why are property developers not catering to the demand?

The property developers are not planning new launches with 1 bhk as the land cost is very high. Rs 3,000-5,000 per sq ft are the present land prices. For a buyer who likes to invest in 1bhk has a budget of Rs 20-23 lakh. This sale price of property is not profitable for real estate developers.

One of the city based property developers said that in majority of cases, many prefer the 2BHK priced at Rs 23-26 lakh. In this price range, the units are available is 650 to 750 sq ft.

Shipra Sinha writes on behalf of 99acres.com, which is an online portal dedicated to meet every aspect of the consumers needs in the real estate industry. It covers information about all Real Estate property types including apartments for sale in Bangalore, studio apartment for sale, houses for buy/sell & Rent for different Property locations like Mumbai Property and Goa Properties etc.