New developments push property prices in Nagawara, Bangalore


Nagawara, a suburb in North Bangalore, is benefitting on account of its good connectivity. The proposed metro has resulted in a hike in property values in the locality. According to the Magicbricks.com data, the area has witnessed a capital appreciation of almost 20 per cent in the Oct-Dec 2012 quarter.

The recently approved second phase of metro route between Gottigere-IIMB and Nagawara is expected to further push the values in the localities along this stretch. With a total of 18 stations falling on this route, Nagawara will have one of the most flourishing realty markets once the metro construction is complete. “It is due to the metro construction and other factors that we expect a whopping 30-40 per cent appreciation in the coming one year,” says Mohammad Shoaib of Sapphire Estate.

The proximity to the Manyata Tech Park in Hebbal and the increasing number of IT companies are prime factors for high demand for residential properties in Nagawara. “Companies such as Infosys and Wipro are hiring IT professionals from across the country. These people are increasingly looking to purchase 2-3 BHK apartments due to their small family sizes,” says Govind Swami of Sri Sai Associates.

Nagawara offers properties in the range of Rs 50- 70 lakh. One can get a 2-3 BHK apartment in the range of Rs 2,500-4,000 per sq ft depending upon the builder and the amenities offered. The sizes of these apartments range from 900-1500 sq ft.

Many renowned developers such as Shobha Developers, Bhartiya City Developers and Monarch Group among others have entered the realty market in and around Nagawara, offering almost 2500 housing units. “With the presence of major commercial areas in the locality, the demand for housing is never going to fade. Owing to this, not only end-users, but investors too are attracted to the locality” said Swami.

Looking at such optimistic views from the market experts, it is evident that Nagawara has good future prospects. It is especially ideal for those who are long term investors.

Shradha Goyal, MagicBricks.com Bureau

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