Known as the IT Hub of India, Bangalore has always attracted many individuals and professionals who want to pursue higher education in the IT sector or want to achieve success in their career. Due to this, there is a sudden influx in the population of the IT city which has also given a boost to the real estate market here. However, among all the sectors, the rental market has shown a much positive growth in recent years.
According to a latest data, the city’s rental market continued to show a surge, witnessing an increase of 4% YoY in average weighted rental prices. So, if we compare all the area of the Bangalore, its northern part emerges as the most sought-after rental locality preferred by professionals as well as families.
According to real estate expert, “North Bangalore is home to some of the biggest IT Parks and Special Economic Zones (SEZs), which has increased the rental demand in the area. Apart from it, bustling real estate, infrastructure development and proximity to the international airport has further fueled rentals and made it a desired area amongst property seekers.”
Here are some of the top localities where one can easily find a house on rent within Rs 15,000 in North Bangalore:
If you are looking for an affordable rental home, then Abbigere is the best option in North Bangalore. Closer to the International Airport, Abbigere is most preferred by students and working professionals. The area is home to many medical and engineering colleges too. Also, Peenya, Asia’s largest industrial hub, is closely situated to this locality.
One can easily choose a 1, 2 and 3 BHK flat here at affordable rentals between Rs 10,000-Rs 12,000.
Due to the several recent infrastructural developments along this stretch, Yelahanka-Doddaballapur Road has emerged as a thriving rental hotspot in the North Bangalore. Localities such as Yelahanka, Rajankunte, and Devanhalli fall on this road and are home to various renowned IT parks and corporate houses. Other planned infrastructure projects like Information Technology Investment Region (ITIR), which is touted to be one of the largest infrastructure projects in Karnataka’s history will further boost the rental market of this stretch.
Yelahanka is also known for the presence of an Air Force Station and a defence airport situated on NH7. The area has seen a 6% hike, YoY on rental values. One can easily find 1, 2 and 3 BHK rental units within Rs 15000 on this stretch. For example:
- In Yelahanka, A 1 BHK apartment rents for Rs 7000 onwards; on the other hand, a 2 BHK starts from Rs 13,000 per month.
- In Devanhalli, A 1 BHK apartment rents for Rs 6500 onwards; on the other hand, a 2 BHK ranges between 12,000 to 15000 per month.
- Talking about Rajankunte, A 1 BHK apartment rents for Rs 6000 onwards; on the other hand, a 2 BHK ranges between 9,000-12000 per month. A 3 BHK will cost here around Rs 13000 per month.
With the establishment of an SEZ along with development in road infrastructure, Anantapura Road has attracted many rental seekers to this area. Many reputed companies have shifted their base from Manyata Tech Park to the SEZ, which has pushed the rental demand in the area. However, still, the rentals here are at a lower side and are easily available between Rs 10,000 to Rs 14,000.