Inam Ansari
Bengaluru: IT city Bengaluru is seeing an upward trajectory in investments in premium plotted properties and real estate with people preferring to purchase premium plots to get their dream villas. Bengaluru has always seen a steady rise in the number of people settling down. The trend in metros is people go for apartments. However, people now prefer villas, villaments and gated communities. “From a geographical point of view, in the Bengaluru market, North Bengaluru (around Devanahalli) and East Bengaluru (Sarjapur Road) have witnessed maximum demand, with more than 10,000 plots from Tier-1 organised developers sold in the last 3 years alone,” explains Sunil Pareek, Executive Director at Assetz Property Group. Earlier, these were large tracts of farmland or had unorganised plotted developments, but now the areas are emerging as an IT hotspot with hardware, electronics, and aerospace hubs and new-age assembly lines such as Foxconn, Sunil Pareek said. He said that the proximity to Bengaluru International Airport and the upcoming Metro corridor is also adding to the investment demand in North Bengaluru. Being among the top players in the city, Assetz Property Group is set to launch multiple new plotted developments in North Bengaluru and off-Sarjapur Road over the next six months. With capital values experiencing a steady annual growth of about 10 to 20 per cent in this specific region, a compelling incentive emerges for potential buyers, says Sunil Pareek. He said that the demand is so high that it may take some time for quality supply to catch up. “Faster sales and premiums due to better brand and project offerings are making the return on investment in plotted projects highly attractive from an IRR (internal rate of return) metric,” he ...
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