Submitted by: Ramya Anbu

Magadi is a small town in Karnataka. It was the hometown of Kempe Gowda who found the quaint city Bangalore. Once a jungle region, featured in novels Magadi is now becoming a fast developing locality after all the wildlife around the area got encroached and destroyed. Magadi is getting to become a part of Bangalore that is just 25kms away. Historic background of Magadi runs back to when Kempegowda made this place the capital of all his territories. The once calm suburb is evolving into an industrial area. With all the IT companies in close proximity and the connectivity in terms of roadways, railways and public transportation being great this place is becoming the idea of investment in recent times.

The Outer Ring Road (ORR) and NICE road connects Magadi road to all the other major localities. Mysore road connects this suburb all the way to MG road and Bypanahalli. Namma Metro is another project that is looking to turn up the face value of this locality. Such great connectivity will naturally invite people over. Developers also find this locality very attractive because the land available at affordable cost is making their deals very conducive. Currently with the number of IT companies on a steady rise the popular localities within the city are starting to become unaffordable and maxed out, new home seekers in the market are moving towards the city limits and other peripheral areas to find homes of their choice.

The industrial employees who work in the nearby locality find this area very attractive because of its proximity to all the industrial areas and the commute to other suburbs around Bangalore city. This locality offers a future scope for retail outlets, malls and top hospitals to come here in the future. Currently the selling price of apartment for sale in Magadi road is approximately around Rs.5270 per sqft. Analyst say that in the next two to three years the property prices are set to increase and a remarkable appreciation is expected. Not just apartments for sale in Magadi road are famous, but people who come around the area are also interested in looking for rental property in Magadi road.

Currently a rental property in Magadi road rents for approximately Rs.8970, but with further infrastructural development and a real estate boom in the next couple of years we can expect the rental market to rent for anywhere around Rs.10,000 to Rs.12,000. This market opens up a lot of opportunity for new home-buyers. If they were to consider the potential of this place and look forward to development in another 5 years their investment would yield good returns. Once Namma Metro gets completed and starts functioning in full swing, we can expect the connectivity for public transportation and other commuters to ease. With each increasing development in this area the property prices look to go through a steady rise. Within the next 5 years we can expect Magadi to become a market like Electronic city or Marathahalli.

About the Author: I am writing for

Indiaproperty.com

. IndiaProperty is India’s No.1 property portal. Indiaproperty best source for all your property search and queries .

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1962822&ca=Automotive}