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A Satellite with Affordable Apartments in Bangalor
A Satellite with Affordable Apartments in Bangalor

A buyer hunting for affordable apartments in Bangalore may wish to glance at the locality of Kengeri in the city. This region of Bangalore is gaining traction as an attractive locality for flats in Bangalore which are priced between 40 to 50 lakhs. Kengeri is on Mysore Road and was developed under the care of the Bangalore Development Authority nearly thirty years ago and had been a popular industrial hub. However today it has gained prominence as a hub of affordable apartments in Bangalore. Kengeri is a satellite of Bangalore.

Two reasons for Kengeri to rise in prominence as a destination for budget homebuyers is the regions close proximity to important educational hubs and number of important residential localities. The widening of the road leading to Mysore and proximity to important industries has also increased the suitability of Kengeri as a real estate destination. In addition the proposed metro link connecting Kengeri to other regions of Bangalore too has led to an increase in its suitability as a location at which to buy a home.

Those who purchase at projects in Bangalore at Kengeri tend to be end users and are often employed at IT companies or work in the various industrial units nearby. The market for luxury apartments in Bangalore is virtually nonexistent at Kengeri as most builders in Bangalore have constructed homes for budget home buyers at the locality. There is also a significant demand for apartments in Bangalore at Kengeri by students to rent. Rental charges at the locality tend to be quite affordable and a 1 BHK flat in Bangalore at Kengeri can be rented for as little as five or six thousand rupees a month.

The price of apartments in Bangalore at Kengeri has appreciated from a little more than 1,500 rupees per square foot 5 years ago to slightly below 3,500 square foot today. Such healthy appreciation points to a very robust real estate market in Bangalore at the satellite township of Kengeri. Those who bought property at Kengeri 5 years ago have more than doubled their equity and furthermore the rise in price of real estate at the locality has been a steep ascent and not a sudden spike in price which can be indicative of an anomaly in a real estate market and not reflect a genuine increase in value.  

Pertaining to factors such as connectivity, Kengeri enjoys excellent connectivity via the Mysore Road and has its own railway station to boot. The already good connectivity Kengeri enjoys with surrounding regions is enhanced by regular bus service from a local bus terminal which connects the locality with Bangalore as well as with other cities across the state.

As Kengeri is at a relatively nascent stage of development as a residential center it is one of the most affordable localities in Bangalore. Flats in Bangalore that are located at Kengeri are well within the means of middle income families and come with an EMI plan which is quite attractive, should the need for financing be needed. Such a locality is another example of a trend where cities expand outward as the price of property in Bangalore and other city centers becomes too expensive to make purchasing a home there a viable option for many.   At a nascent stage a locality such as Kengeri may be a good option at which to purchase a home even for some speculators who wish to see a significant increase in the value of their real estate portfolio over the next four to five years.