The residential properties in Budigere, Bangalore are slated for a good uptick in the coming months. The locality is about to get a major revamp in terms of infrastructure and connectivity. Of late, the government of Karnataka announced a big-time upgrade in the road connecting Hoskote with KIA Road. It is one of the busiest roads in Bangalore, now subject to a road widening project to be started soon.
As the project is going to decongest traffic in Budigere, the property market in this locality situated in North Bangalore is all set to get a shot in the arm. It is a Rs 420-crore project covering 22 kms.
At present, the residential properties in Budigere are selling in the range of Rs 3,500-4,200 per sq ft. There is an ample availability of residential properties in Budigere, be it 1BHK or 4BHK apartments. It is the right time to buy property in Budigere as the prices will soon start going up once the road widening project takes off.
The Budigere real estate market has been performing well from the past few years. As per historical records, residential properties in Budigere used to hover in the range of Rs 2,800-3,200 per sq ft, until a couple of years ago. But now the average property prices are pegged at Rs 4,000 per sq ft – this denotes an appreciation in capital values to the tune 20-25 percent.
The biggest advantage Buidgere offers to its residents is its flawless connectivity to the Kempegowda International Airport (KIA) and other major parts of the city. To top it off, the new road widening project will cut the travel time between Budigere and the KIA airport by half.
Still, at this moment, the property prices at Budigere are quite less in comparison to other neighborhood locations such as Whitefield. There is a noticeable difference of 10-20 percent, which makes for a considerable saving for an average home buyer. However, this difference in property prices will not be sustainable for more time – given the kind of physical infrastructure boost the locality is about to witness.
There is no second thought that the road widening project is going to give a major impetus to residential properties in Budigere, but that is not the only reason why we recommend homebuyers to take a call on this location fast.
The locality will also be getting Aerotropolis and Aerospace Park. These projects will attract thousands of professionals to this location and those who will work in these commercial projects will always prefer to stay near their workplaces. Consequently, the property market in Budigere will witness vibrant demand in the coming times.
The emerging trend will not only boost capital values at this locality but also support rental market. It is not necessary that everyone will be interested in buying properties in Budigere. A large number of people will look for properties on rent in Budigere. That suggests that there will be good opportunity for people who want to invest in properties to generate regular rental income.