Bangalore property market continues to showcase dynamic trends as we enter Q1 2024.
Based on the latest PROP Index data, certain localities have emerged as hotspots for real estate demand. These areas not only offer prime locations but also cater to diverse residential needs.
Understanding these trends is crucial for both buyers and investors looking to capitalize on Bangalore's thriving real estate landscape.
The Bangalore property market in 2024 is driven by mid-segment and high-rise projects. And with the diverse choice of prime locations across Bangalore, homebuyers, and investors seeking the best place to commence real estate investment find it hectic to make the right choice!
As we dive in, this article will be exploring the top 10 localities in demand in Bangalore as per the Prop Index Q1 of 2024.
Residential Market Insights
Driven by current real estate market trends, the properties in Bangalore are catered to the needs of homebuyers. As per the insights and reports from several sources, there has been a temporary dip in demand due to the increased property rise thereby leading to an increase in supply.
As we enter the first quarter of 2024, the Bangalore real estate market is keen to explore demand and supply, including the study of the fall in demand and the rise in supply. One of the biggest concerns has been raised that the potential homebuyers are converting to rental investors.
And, this change has led to the downfall of demand for housing in Bangalore. Yet another reason was the significant rise in property value, basically resulting in the term affordability.
Now, come, let's have a look at some of the top localities in demand in Bangalore 2024.
Top Localities in Demand in Bangalore As Per Prop Index Q1 of 2024
Here are the localities in Bangalore with the highest demand in 2024:
1. Whitefield With seamless connectivity and its blossoming IT sector, this eastern suburb of Bangalore is one of the most sought-after residential neighborhoods. Boasting reputed tech hubs, the locality is in high demand among the working professionals of Bangalore. Properties for sale in Whitefield always have their high demand due to low supply. The average property value in Whitefield as per prop index Q1, 2024 is about Rs 8,900/-.
2. Sarjapur Road Yet another well-developed locality known for its proximity to prominent IT hubs in Bangalore. Sarjapur Road is one of the most prominent thoroughfares in Bangalore, connecting several suburbs of the city. The road is also well-connected to other thoroughfares in Bangalore, such as - SH35, Hosur Road, and ORR. The locality makes it one of the most suitable regions for residential living. Properties in Sarjapur Road are witnessing high demand as per prop index Q1 of 2024. 3 BHK apartment in Sarjapur Road, has become one of the most sought-after choices among growing families, looking for a pristine neighborhood to live in.
3. Electronic City Of course, the land with exceptional IT, industrial, and infrastructural growth is one of the top localities in high demand in Bangalore as per the prop index Q1 of 2024. Being a bustling IT & business hub and having exceptional residential options, properties for sale in Electronic City have demand high. The locality also showcases high investment options and exceptional infrastructural development, making Electronic City set its demand high, compared to other residential localities in Bangalore.
4. Bannerghatta Main Road As per the prop index Q1 of 2024, Bannerghatta Main Road has been embracing high demand. Located in the southern part of Bangalore, Bannerghatta Main Road is well-connected to some of the well-developed localities such as - Jigani, Anekal, and so on. The locality also boasts an exceptional offering of public amenities and facilities, making it embrace high demand among families. The locality also enjoys easy accessibility to prominent transit hubs, including railway stations and airports. The region also offers seamless BMTC bus accessibility, connecting to the rest of the Bangalore city.
5. Bellary Road Yet another prominent thoroughfares in Bangalore with rising demand in residential properties as per the prop index Q1 of 2024. These rises in demand are catered by more property choices and infrastructural enhancement. The locality has been among one of the most sought-after residential regions in Bangalore and as we reach quarter 1 of 2024, the properties in Bellary Road have been experiencing high occupancy.
6. Thanisandra North Bangalore has been in demand among the rising residential living in 2024 due to its rising infrastructural development. The region also enjoys excellent connectivity to some of the most sought-after residential neighborhoods in Bangalore. Properties for sale in Thanisandra have set their demand high, with low supply and several future expansions.
7. HSR Layout Home to a number of Indian startups, HSR Layout has also set its standard among the residential outbreak in Bangalore. The properties for sale in HSR Layout are been witnessing high demand as per the prop index Q1 of 2024. HSR Extn has become one of the ideal residential choice in Bangalore, due the exceptional connectivity offered by the Haralur Road, connecting to Madiwala and other established localities in Bangalore. With exceptional residential options, expanding infrastructural growth, and rising investment opportunities, the HSR Layout has become one of the most sought-after residential localities in Bangalore.
8. JP Nagar Being among one of the prime locations in Bangalore, JP Nagar has also had an exceptional rise in property demand. Properties for sale in JP Nagar are witnessing a rise in demand, due to low supply and rapid infrastructural development. As of prop index Q1 of 2024, JP Nagar is on the top list of localities in demand in Bangalore as of 2024. The locality also offers exceptional connectivity and accessibility to major IT hubs in Bangalore. And, this is one of the reasons why locality is one of the most sought-after choices among working professionals as well as growing families.
9. Devanahalli The proximity to the international airport and its significant development has made the locality one of the most sought-after localities in demand in Bangalore, as per the prop index Q1 of 2024. Its exceptional connectivity aspects are one of the major factors that led to the rise in property demand in the locality. The studies and reports have been discussing about the rise in demand catering to the future expansion of Devanahalli.
10. Hennur Renowned for its peaceful environment and green surroundings, Hennur was always been one of the most sought-after residential choices among homebuyers. Not just for its tranquility, Heenur offers a well-developed infrastructural spanning the city, amidst the verdant green landscape, which has made the locality among the sought-after list. The prop index Q1 of 2024 has been exploring the growing property demand in Hennur. Properties in Hennur have been meeting residential needs, offering excellent connectivity, accessibility to well-established public amenities, and exceptional infrastructural development.
This isn't it! The Bangalore property market in 2024 is bustling with several emerging real estate hotspots. As per the prop index Q1 of 2024, these localities have been showcasing rising demand due to various factors. As we explore more, the Silicon Valley of India will continue to showcase more rise in property demand and will be establishing diverse property choices!
