With the increase in property price and population in the centre of the IT city, people in are moving towards the outskirts areas which not only have best in class facilities but also have sound infrastructure and good connectivity. Among all such areas, Tumkur has become favourable among working professionals and families.
Tumkur has been recognized as a major NIMZ (National Investment and Manufacturing Zone) and an industrial smart city under the Government’s ambitious smart city mission. It is also known as the city of education and land of coconut trees.
Scroll down below and take a look at some of the factors that are making Tumkur a realty hubspot in Bangalore:
Tumkur is well-connected to the city centre and other areas through the state-run KSRTC buses. Also, three National Highways NH-48, NH-73, and NH-69 pass through the city and connect it to Mangalore, Hubli, and Shimoga. TCB (Tumkur-Chelur-Bukkapatna Road) connects this city to Hagalavadi, Chelur and Bellavi Towns to Tumkur Corporation City. The Kempegowda International Airport is around 90 km from the Tumkur.
Tumkur has become a key spot for the Mumbai-Chennai corridor after the acquisition of 11, 000 acres in the Vasantnarsapura region. Presently, there are several manufacturing companies and units such as coir industries, rice mills, oil extraction mills, and other industries operating in the city. The state government has also planned a textile park that will further boost the overall housing and employment in the coming future.
The city is also home to various famous educational institutions for primary, secondary, and higher education like Sacred Heart Education Society, Sarvodaya Education Society, Siddaganga Institute, H.M.S Education Society, Vidyanikethan Group of Institutions etc.
Tumkur Real Estate
Because of the presence of several industries, and planned infrastructural projects, Tumkur is witnessing a growing demand across all the residential segments.
Due to Government’s smart city mission, Tumkur is also steadily becoming a favourable affordable housing destination as well. Several real estate developers like Prestige, Salarpuria Sattva, Concorde etc. are moving towards this area to develop mid-level as well as budget-friendly projects in the city.
Some of the popular projects in this area are Prestige Jindal City, ASB Vinayaka Enclave, Salarpuria Sattva Opus, and Concorde Spring Meadows.
Tumkur: Property Price and Trend
Currently, the average property price in Tumkur is 5,271 per sq.ft. Furthermore, the property price of an apartment starts from 4,380 per sq.ft and goes till 6,162 per sq. ft.
Real estate expert suggests that due to better infrastructure and presence of employment generating manufacturing units, property rates across the residential real estate market has shown a steep jump in recent years. Over the next few years, the area will generate a good return on investments to the property buyers and investors.