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Bangalore Apartments to Rent – Five Things That the Owners Expect From the Tenant

It is ironical that people searching for Bangalore apartments to rent worry more about the expectations of their prospective landlords than the daunting search for a rental itself. However, landlords expecting their tenants to follow some rules is not harsh – after all, they are renting out their  property for someone else to live in. Summarized below are five things landlords expect from the average Bangalorean tenant –

Bangalore apartments to rent 224x300 Bangalore Apartments to Rent – Five Things That the Owners Expect From the Tenant

Bangalore apartments to rent

Timely payment of rent

This one is a no-brainer – the rent must be paid, and it must be paid on time. The very fact that landlords are renting out their property is that they need the money to either pay off the mortgage on the property or for other expenses. The bank or the grocery store is not going to care if the tenant pays the landlord or not; hence, it is the tenant’s obligation to pay the owner the rent in full and on time. No landlord on earth would tolerate late payment of rent, however nice and quiet their tenants are. 

Maintaining standards

The landlords who give out Bangalore apartments to rent have maintained and cleaned their property up to a certain standard. They expect their tenants to maintain the same standard, if not more. For instance, if the property has been kept clutter–free and the lawns have been mowed, the landlords expect the same from the tenant. Similarly, all furniture and fixtures (if the house is furnished) are for the tenant to use, but at the same time, he needs to maintain it, in the same way, as the landlord would care for his  property. 

Inspection, maintenance and damages

However known the tenant is to the landlord, the latter likes to have the property inspected regularly (having given prior notice). Inspections should not be taken as interference or insult, but is instead a two-way street wherein tenants can point out any maintenance issues and problems that need to be fixed. Inspections are a great way of avoiding damage and keeping the apartment in a good state. A tenant letting the landlord know about the repairs as soon as damage is discovered is a responsible one.

Living rules

There are certain rules that landlords expect tenants to follow during their tenancy. It goes without saying that they want no illegal activities on the premises. Apart from this, owners also expect tenants to follow decorum and be relatively quiet, hold no late night parties or revelry, and not disturb the neighbours in any way, as it reflects on the landlord.

Changes, alterations and renovations

Last but not the least, landlords giving out Bangalore apartments to rent would like their tenants to not make any changes, not even the minute ones, when it comes to the property. So there should be no changing of the locks, attaching any extra fixtures, changing the wallpaper or repainting the room walls and ceilings, making any renovations, additions or alterations of any kind. 

Keeping in mind, the above rules will help better the landlord-tenant relationship and save it from being a turbulent one.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Apartments Metro Station – How Has Metro Changed the Sale Trends of Apartments

When one talks about all the factors responsible for changing the sale trends of Bangalore apartments metro station proximity is  one of the biggest factors. The areas that house the functioning stretches of the Namma Metro have seen a rise in property prices of as much as 20% in the last two years and an increase in sale bookings of almost 15–20%.

Bangalore apartments metro station 300x214 Bangalore Apartments Metro Station – How Has Metro Changed the Sale Trends of Apartments

Bangalore apartments metro station

The three phases of the Namma Metro, the pre–construction, the under–construction and the post–construction phase, witnessed different impacts on the real estate in the Garden City. As many as 2% new launches were witnessed in the pre–construction phase, but the post construction phase increased property prices and sale trends of as much as 25–30% in the areas that are on and near both the Namma Metro routes (Green Line running North–South and the Purple Line running East–West).   

When it comes to the sale of Bangalore apartments metro station nearness has played a big role in the last 3–4 years. According to Centre of Environmental Planning and Technology (CEPT) study, the sale trends and prices for Bangalore apartments within a distance of 500 m of a metro station have witnessed an increase of as high as 11%. For instance, prices for multi-storey apartments in Jayanagar increased from INR 7,400/sq. feet on an average to INR 9,500–10,000/sq. feet after the completion of the metro station in October 2011. Similarly, prices in Indira Nagar (east end) increased from INR 5,700/sq. feet to INR 6,500/sq. feet and from INR 3,600/sq. feet to INR 5,000/sq. feet in Banashankari (south end). In fact, property prices increased even in peripheral suburban areas due to their relative closeness to the metro lines and stations.

The scenario changed with the announcement of the Phase II of the project. Phase II of the Namma Metro extends Phase I as well as involves the construction of the Red Line (North–South) and Yellow Line (City Centre–South East). Even though this phase has just been announced in January 2014, property prices and sale booking are already spiking in suburban areas such as Sarjapur Road and Electronics City (Yellow Line), and Yelahanka (Red Line). For instance, sale bookings in Sarjapur Road increased by almost 15% after the metro announcement and prices of apartments jumped from INR 4,300/sq. feet to INR 4,560/sq. feet. Yelahanka also witnessed similar trends; sale bookings jumped by 17%, and apartment prices jumped by 9% from INR 4,400/sq. feet to INR 4,800/sq. feet. 

When it comes to the impact on sales of Bangalore apartments metro station connectivity has indeed played a big role. Furthermore, the CEPT study also indicated that the gap between the property prices between the city centres and the peripheral areas will almost disappear once the Phase II of the Namma Metro also becomes completely operational. Hence, the well-timed conception and execution of the future metro stations and lines will catapult Bangalore’s real estate market to new heights.

Clearly, the Namma Metro project has changed the face of Bangalore.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Apartments for Rent – Problems That Student Tenants Face

Student tenants usually have a hard time getting Bangalore apartments for rent due to various reasons ranging from their inexperience to crafty, wily and wary landlords. A particularly vulnerable group, student tenants in Bangalore often face discrimination due to being inexperienced and away from families, genders and even disabilities. However, contrary to popular belief, students can  be quite a good group when it comes to tenancy. That is if you find the right ones.

Bangalore Apartments for Rent Bangalore Apartments for Rent – Problems That Student Tenants Face

Bangalore apartments for rent

Bangalore is one of the topmost student destinations in the world. Hence, there is no dearth of students searching for Bangalore apartments for rent in the city. In the search for a home, they face innumerable hurdles. High rents are the topmost problem faced by students. Rents are shooting through the roof in most of the areas near schools and colleges in the Garden City. For instance, the rent for an unfurnished 3BHK even in an area like Bellandur is a minimum of INR 7,000–8,000/month, with an average of around INR 18,000/month. These prices are almost criminal for students, who are on a fixed small amount of monthly allowances and are focusing on their studies.

Secondly, housing societies are becoming increasingly paranoid about renting out homes to “singles” as the local police have increased keeping tabs and checking up. The rules, which were  limited to bachelors and spinsters, have now been extended to students as well, and many landlords are now refusing to rent out apartments to students in Bangalore either by citing unreasonable demands or saying that they want less ‘noisy’ tenants.

Problems of students taking Bangalore apartments for rent do not end here. Student accommodation is often ignored when it comes to repairs and maintenance once they start living on the premises. Often, the landlord turns a deaf ear to their complaints and requests for as long as he wishes since he knows that they cannot afford to move out. There are even cases of the apartments being overrun and infested with woodlice, termites and other vermin, and the landlords renting it out to students without telling them of these problems, and then doing nothing about the problems later. Dealing with such landlords becomes a problem for inexperienced students who do not wish to be rude to their landlord and hence put up with the problems and issues until they are taken care of. Often, landlords also force students to vacate the accommodation if they find a better prospect for renting their apartment. In fact, they suddenly raise rents up till the point where students simply cannot afford the amount. In such cases, students become powerless to fight back and many times they have no option, but to move out.

One of the biggest issues students face is losing their security deposit amount to the whims and fancies of the landlords. According to the Karnataka Rent Control Act, security deposit is non–refundable only if the rent is unpaid or damages to property have been caused.

Although not all students face these problems till the above extent, but every student tenant in Bangalore faces one or the other issue.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

 

Bangalore Apartments Builders – How toCheck Credentials of Your Builder

Bangalore apartments builders range from the reputed, trustworthy ones to those who will give home seekers the nightmares. The adage of “Seeing Is Believing” doesn’t apply here and hence, it is imperative for home buyers to check the credentials of their builder before considering buying a home with him. So how does one check up on the builder’s background and credentials?

Bangalore Apartments Builders 187x300 Bangalore Apartments Builders – How toCheck Credentials of Your Builder

Bangalore apartments builders

Some of the best people to give home seekers a correct idea about their builders are their past clients who’ve lived in the projects built by the developer. Home seekers can ask their previous clients about the builder’s reputation, the quality of his work, the clarity in the home buying process, the builder’s way of working, and how they are finding living in the house provided by the builder. An honest experience from past clients will help home seekers deal with the builders while they buy a house. At the same time, going to the past projects and observing the workmanship and its quality will bring to light whether the Bangalore apartments builders stick to their promises.

However, home seekers should not only rely on word of mouth repute and feedback, and they need to do their own homework and research too. They need to check up on the local reputation of the builder and ensure that the builder is a member of reputed organizations such as the CREDAI or the BAI, since all good and reputed builders will be members of either. This  guarantees that builders are following the ethical code of conduct laid down by the organizations that are made mandatory to all member developers and builders.

Additionally, home seekers should ensure that the builder has stuck to the sanctioned plan approved by the BBMP. Violating sanctioned plans could lead to the demolition of the building or even litigation, and thus, home seekers should check whether the building’s plan is approved by the BDA or the BBMP. Home seekers should also check whether the builder and his project is ISO certified since that ensures customer satisfaction.

Another way to check up on Bangalore apartments builders credentials is to check whether the concerned project has a CREST (CRISIL Real Estate Star Ratings) rating. A city specific valuation of real estate projects performed by CRISIL, the rating rates a builder on parameters such as timely project completion, maintenance of construction and legal standards, transfer of clean title and a good track record. However, a home seeker needs to make sure that the builder and the project are both registered with CRISIL.

One important way to check the builder’s credentials is to check the profit and loss statements and balance sheets of the company for the last three years. Absurd as it may sound, doing so helps home buyers assess the financial standing of the builder. Apart from the above, checking online forums is also greatly helpful as it helps home seekers determine whether a builder is trustworthy and professional or whether he is dodgy.

Checking up on the builder’s credentials in the above ways will help home buyers till a great extent.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

 

Bangalore Model Apartment – How Does It Help?

Every builder who showcases a Bangalore model apartment for their project has no idea how much it helps the home seekers make home buying decisions. In an age where real estate prices are skyrocketing, every prospective homeowner wants to own a great flat with a good outlay and feel. At the same time, he wants to be sure of the product that he is buying. This is where sample flats or model apartments come in.

Bangalore model apartment 262x300 Bangalore Model Apartment – How Does It Help?

Bangalore model apartment

When it comes to buying a house, not everyone can imagine a 3D visual of how the home will look like. A sample flat or a model apartment helps home seekers in not only imagining how the home will look but is also instrumental in stimulating the emotional and rational areas of a buyer’s mind. For instance, the women in the family are most worried about the kitchen space and storage. A Bangalore model apartment usually has all kitchen trolleys and storage spaces in place, giving the home seeker a clear idea about the space available to keep boxes, utensils, and seasonal food items. Similarly, it will also give the home buyers an idea of the storage spaces in the rest of the house, such as the attic, ducts, and any spare storage rooms. This gives the home seeker a greater degree of assurance and brings him one step closer to being sure about buying a flat. 

Today, nobody lives in the bare flat provided by the builder – nearly all home seekers get interior decorators and designers to do up their dream home. After viewing a sample apartment, a home seeker is in a better position to relay ideas to his interior decorator and/or designer. The general idea about placement of furniture, walls, décor, lighting fixtures and elements, shelving units and cabinets, etc. becomes clearer to both home buyer and the decorator once the home buyer has viewed a sample flat. Moreover, if the home seekers need or wish to make any changes in the floor plan, then viewing a sample flat earlier helps them in making changes during the development and construction stage itself, rather than waiting for a better time later. All these improvements are possible if and only if builders showcase model apartments and home seekers make the best use of the opportunity, observe the sample flat carefully and discuss the same in detail with their decorators and designers. 

A Bangalore model apartment is the biggest blessing in disguise for those who have  no experience in home buying or imagination about how the house will actually look. Often, people end up being disappointed with the finished product because they have not been able to imagine the floor plan in a 3D medium. Hence, model apartments are truly indispensable in today’s age.

Even though model apartments are generally arranged to tempt buyers and made to appear larger, they give a good idea of how the house will look till a great extent. In fact, most of the reputed builders in Bangalore today showcase sample flats to prospective homeowners.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Budget Apartments – Does Quality Take a Hit?

flats for sale in bangalore 300x225 Bangalore Budget Apartments – Does Quality Take a Hit?

Bangalore Budget Apartments

The issue with buying Bangalore budget apartments is that the quality can be an issue. Not only do you need to make sure the space is enough for your family and the house does not exceed your budget, but also, you need to assess the quality. Often quality assessment for budget apartments in Bangalore cannot be done on a standalone basis. Hence, a host of other things such as location, urban and social infrastructure, safety and security, facilities and amenities and clarity of the sale process are considered rather than home seekers doing a trade-off between quality and price.

The Garden City currently has around 62,000 residential homes across all categories. Of these, around 4,000 residential units are in the category of INR 25 lakh and below, and around 24,000 residential units in the mid–range category of INR 25–50 lakh. The units in the former category are classified as low–budget homes and are in the average price range of INR 2,700/sq. feet. The Bangalore budget apartments in this category are a mix of 1BHK and 2BHK flats and their sizes range from 975 sq. feet to 1,163 sq. feet. Usually, the amenities in this category include the basic parking spaces and mini play areas around the apartment complex. The average price range of the latter mid–range houses is around INR 3,700–3,900/sq. feet. These budget apartments are a mix of 2BHK and 3BHK flats, and their sizes are in the range of 1,144 sq. feet and 1,240 sq. feet.

When it comes to the amenities and facilities in the low–budget category, small–time independent developers often put up a simple apartment building of ground + 3 floors, parking space for a limited number of vehicles, and a small amount of area around the complex for older people to walk and for children to play. However, if home seekers of affordable apartments and flats do a little bit of research, then there are a few developers who are ready to provide quality housing along with amenities and facilities in a low budget cost. Additionally, there are also several branded properties in the mid–range and the low–budget category along with quality amenities and facilities including good fixtures within the house, good quality lifts and elevators, jogging pathways, play areas, small green spaces and enclosed perimeters and boundaries. Again, home seekers need to do their research and due diligence as the presence of these amenities is not guaranteed.

Apart from the above, Bangalore budget apartments today are no longer located only in the secluded and remote parts of the city but in safe and popular areas including Jalahalli, Hosur Road, Anekal Road, Kengeri, and even Mysore Road. These areas also have access to excellent urban and social infrastructure including educational institutions, supermarkets and shopping malls, IT parks, restaurants, metro stations, hospitals and even entertainment hubs.

Hence, budget properties in Bangalore do not necessarily mean that quality takes a hit. Only, the home seeker needs to do much research before he is sure about buying such a property.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

North Bangalore Apartments on Sale – Rates and Trends

house bubble 400 clr 12470 7 262x300 North Bangalore Apartments on Sale – Rates and Trends

North Bangalore Apartments on Sale

North Bangalore apartments on sale sold pretty quickly 2005 onwards ever since the Kempegowda International Airport and a slew of other infrastructure projects were announced in the region. Right from the international airport, the BDA Arkavathy layout near Jakkur, the elevated expressway to the airport, the over bridge at ORR and the underpass at Mekhri Circle and the widening of the Bangalore–Hyderabad Highway (a.k.a. the Bellary Road), north Bangalore observed a transformation in terms of infrastructure around 8–9 years ago. As the area developed, so did the real estate.

Around 20 years ago, RT Nagar served as Bangalore’s northernmost boundaries, beyond which people would journey only for work in the outer industrial areas. The above mentioned improvement in infrastructure along with the extension of the Doddaballapur Road, and the setting up of the Devanhalli Business Park, Manyata Business Park in Hebbal, and the Aerotropolis – the aerospace SEZ, airport city, the hardware and business park, an INR 1,000 crore financial city and the ambitious ITIR (Information Technology Investment Region) – were major game changers for North Bangalore. Slowly, real estate came up in areas such as Hebbal, Yelahanka, Jalahalli, Doddaballapur Road, Devanhalli, Yeshwantpur, Hennur and Thanisandra. Whether it was due to the employment opportunities, infrastructure growth and development or the high returns in investment, north Bangalore real estate had finally arrived and North Bangalore apartments on sale began selling out like hot cakes.

Rates in areas such as Hebbal and Thanisandra are slightly higher because they are closer to the main city, whereas those in Yelahanka, Doddaballapur Road and Devanhalli are slightly lesser and hence, more competitive and prone to price appreciation. Property rates for apartments in Hebbal and Thanisandra were around INR 3,000/sq. feet six years ago and are now around INR 6,000/sq. feet, which is almost double. Similarly, prices of multi-storey apartments in the satellite and well-developed town of Yelahanka were around INR 2,900/sq. feet around six years ago and are now around INR 4,800/sq. feet. Prices of apartments in Jalahalli, another popular northern suburb, were around INR 3,000/sq. feet five years ago and are now around INR 4,200/sq. feet. Thus, north Bangalore apartments on sale have always shown substantial price appreciation, despite the lull that came with the recession. Apartments also happen to be the dominant property type in the region, with as many as 58% of the properties being a mix of 2, 3 and even 4BHK apartments.

If a home seeker is checking out areas for north Bangalore for apartments, some projects he definitely shouldn’t miss are Shriram Sameeksha in Jalahalli and Shriram Suhaana on Yelahanka–Doddaballapur Road. The former project, even though located just around 10km away from the posh MG Road, has affordably priced apartments nestled in the safety of a gated community. On the other hand, Shriram Suhaana sits in an idyllic setting in Yelahanka, complete with luxurious and yet affordable homes and housing a host of all modern amenities for its residents.

From being uninhabited to becoming an area to reckon with, north Bangalore is riding high in Bangalore’s real estate market.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Duplex Apartments – Advantages of Duplex

plymouth ypsilanti saginaw 690409 h 195x300 Bangalore Duplex Apartments – Advantages of Duplex

Bangalore Duplex Apartments

Bangalore duplex apartments are growing in popularity with the Bangalorean crowd due to their luxurious feel, exclusivity, and privacy. Duplex apartments in Bangalore are usually two units on separate floors usually joined by an elevator or staircases as well as two units side by side and having two entrances. For those people who’ve lived in single floor housing for their entire life, living in duplex apartments can be pretty exciting due to expansive space. So what are the other advantages of a duplex apartment?

Unique living situations

Have elders in the family who need to be taken care of? Want to live with your brother’s family but need your space and privacy? Bangalore duplex apartments provide the perfect solution for such unique living situations. The duplex housing style opens up options for unique situations. Such homes not only enable families to stay together but also give them the necessary privacy that everyone wishes for in today’s day and age.

Better living spaces

Indoor gardens, lounges and entertainment areas, bars, home gyms, saunas and Jacuzzis are impossible to incorporate in a usual 2BHK or 3BHK flat. In duplex apartments, sky is literally the limit when it comes to redefining the enormous space available and living life king–size. Owners can alter spaces in duplex apartments according to their living situations by converting the space, use the same to display their beloved accessories and art and decorate the house and make it a unique lifestyle statement.

Alternately, one can remodel their duplex apartments and move all bedrooms to one floor or one side, thus redefining spaces and controlling noise levels. Duplex apartments are also great for those who entertain frequently, as they have the capability to make one hell of an impression on your visitors, friends and family.

Faster equity

This is for those people who consider a house as an asset and investment. Investing in duplex apartments where you have the potential to rent out one half of the property is a great way to earn home equity. Renting one half of the duplex gives you the ability to rack up the mortgage payments while living on the property, effectively halving your loan term. This not only accelerates home equity but also greatly reduces the interest paid on the loan. The rental income also helps in taking care of other expenses too.

Additionally, from the home loan perspective, buying duplex apartments becomes appealing due to the very fact that you can rent out one half of the property. This also helps in getting loans easier.

Value appreciation of property

This advantage is on the lines of faster creation of home equity and wealth – Bangalore duplex apartments’ values appreciate faster than those of the normal 2BHKs, 3BHKs and 4BHK flats. Although there is no guarantee for the same in the short run (2 – 3 years), but in the long run, property values for duplex apartments trend upward more than those of other apartment property types.

For those who do not mind the extra space or the money, duplex apartments have their own, inimitable charm.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Apartments Resale – How to Determine the Price?

old window 1401031 m Bangalore Apartments Resale – How to Determine the Price?

Bangalore Apartments Resale

While buying Bangalore apartments resale properties are being increasingly considered by people who dream about owning properties in the Garden City. However, home seekers must know how to calculate the value of a resale flat to know whether the price being quoted is the right price or if it is too high. Generally speaking, a 1 to 5-year-old apartment’s value is around 78–83% of the market price, a
5 to 10 year old apartment’s value is around 63–75% of the market price, and that of a 10-20-year-old flat is around 50–67% the market price.

In the event of Bangalore apartments resale, calculating the fair market value is slightly difficult. However, based on the cost inflation index, a fair method has been generally determined which uses the following formula –

Resale apartment’s value = Value of UDS (undivided share of land) + depreciated value of amenities, facilities and the building + value of promoter’s profit, expenses and overheads.

The total value of the UDS is the actual area of the UDS multiplied by the cost per square feet. Usually, the guideline values for the particular type of property in that area are considered for the cost factor. However, these values are much lesser than market values since the latter are very dynamic and move faster than the guideline values are changed. Home seekers can visit property websites such as 99acres, magicbricks, sulekha and commonfloor to research about the actual prices get feelers regarding the actual market prices in the area. One can even approach a broker, but these rates are easily available on the real estate portals and are accurate and dependable.

The depreciated value of the amenities, facilities and the building is calculated in the following way. First, find out the following factors – the cost of construction for that area (or simply assume a general figure of around INR 1,300–1,400/sq. feet for Bangalore), the super built–up area, the area allotted for parking (around 150 sq. feet on an average), and the age of the property. Next, find out the zone the property belongs in by referring to the BBMP handbook at http://bbmp.gov.in/zonal-classification-residential. This handbook also lists the depreciation rates according to the age of the property. The depreciated value is calculated as follows –

  • Gross unit area value = Value of tenanted portion/self-occupied portion/both (area X rate/sq. feet X 10 months) + car parking area
  • The depreciated value = depreciation rate X gross unit area value

Finally, the value of the promoter’s profit, expenses and overheads are vaguely around 40% of the construction cost.

Another way to calculate the Bangalore apartments resale value is if you know the exact construction cost, then one can calculate something known as the reproduction cost, which is –

Reproduction cost = (Preliminary construction cost X cost inflation index for the current year) divided by the cost inflation index for the year when the flat was originally bought. These values can be found online. In this case, the resale value of the apartment = value of the UDS + reproduction cost.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space

Bangalore Apartments near Airport – Why Do People Prefer It?

kenya cumulus clouds 38301 h 232x300 Bangalore Apartments near Airport – Why Do People Prefer It?

Bangalore Apartments near Airport
Photo Credit: Kevin Walsh

Bangalore apartments near airport in areas such as Devanhalli, Haralur, Byappanahalli and a little closer to the city such as Yelahanka and Doddaballapur Road are coveted properties today. Apart from the above, areas such as Peenya Industrial area, Yeshwantpur, HBR Layout and Hebbal are also continuing to see demand for apartments and flats. The establishment of the Kempegowda International Airport around 4km south of Devanhalli in 2005 has been a major game changer for the real estate in north Bangalore. The development of the international airport caused a chain reaction of development of urban and social infrastructure and real estate in the region.

One of the biggest reasons why people prefer to buy and invest in Bangalore properties near airport is the price appreciation the properties have seen in the last few years. For instance, property prices for flats in Yelahanka were around INR 2,900/sq. feet in the January–March quarter of 2008. Today, they are around INR 4,700/sq. feet, exhibiting a price appreciation of almost 62%.

Similarly, Devanhalli, Doddaballapur, Hebbal etc. have all seen a price appreciation of as much as 27–80% in the last 3–6 years. As Greater Bangalore becomes a reality, these prices are expected to escalate further. Moreover, the apartments in north Bangalore suit a range of budgets. For instance, Devanhalli apartments are priced between INR 25 lakhs to 1 crore. Another instance is 2BHK flats at Shriram Suhaana in Yelahanka which cost around INR 50 lakhs and 2BHK flats at Shriram Sameeksha in Jalahalli which cost around INR 30 lakhs.

Another reason for investing in properties near the airport is the development the region has already seen and is expected to see in the future. The plans for the “Airport City” (places of work, homes and travel infrastructure) are already underway along with plans to develop an IT hub, a financial city and an Aerospace SEZ near the airport. Clearly, the employment opportunities are expected to shift northwards in a big way and real estate is expected to develop further, escalating future price potential. Furthermore, the development of the NICE ORR, the broadening of the Bangalore Hyderabad Highway/Bellary Road, the high–speed rail link to the airport, and the BDA Peripheral Ring Road have enhanced the connectivity of north Bangalore by leaps and bounds. The icing on the cake is the extension of the Namma Metro which will connect most of north Bangalore to various parts of the city and the southern and the eastern suburbs.

The social and urban infrastructure development of the area around the Bangalore apartments near airport has further made them popular. The area has excellent educational institutions (Trio World School, DPS and VIT), hospitals and medical centres (KK hospital, Columbia Asia hospital), banks and ATMs, restaurants, eateries and hotels (Taj, Club Cabana), supermarkets and grocery stores, petrol pumps, parks and gardens, places of worship et al. Hence, people making a move to north Bangalore do not need to worry as almost all areas are thoroughly self–sufficient.

Thus, real estate near Bangalore airport is expected to scale new heights of popularity in the years to come.

Shriram Sameeksha – Affordable homes for all budgets
Shriram Signiaa – A dream house that you cannot miss
Shriram Smrithi – A wise investment that appreciates every year
Chirping Woods – A idyllic bird haven amidst lovely woods
Shriram Suhaana - Luxury villas and apartments for sale
Shriram Summitt – Make the right move now and book your space