Why Are Buyers Moving to Horamavu in Bangalore: 6 Reasons
1- Prices have shot up in North Bengaluru!
Limited supply of land and homes in neighboring localities such as Banaswadi and Ramamurthy Nagar have made the micro-market of Horamavu in North Bengaluru a desirable one. Horamavu has become the most populated ward in Bengaluru.
2- Economically Priced Homes
It is also the location of choice for those looking to buy a home within a budget of Rs 50 to Rs 70 lakhs. Homes here are still affordable with average property prices starting at Rs 4,400 per square foot.
3- Advantage Location & Connectivity
It is close to the Outer Ring Road (ORR) with easy access points to both North and South Bengaluru – the emerging and already established IT hubs of the city. In addition to this, central locations like Indiranagar and MG Road are also located within a 10-kilometer radius of Horamavu.
4- A Good Bet for Investors
Nearly 60 developers have launched projects here. The area is just getting discovered and prices are likely to appreciate quickly. Those who bought a home 2 years ago have seen prices go up by 10% per annum, according to Propequity Data.
5- Choose From the City’s Top Developers
Unlike most emerging suburbs which usually see tier 2 developers cornering the market, homebuyers in Horamavu can pick from the top builders in the city. Kolte Patil, Prestige Estates, DS Max, Akshaya Builders, Unishire Group and Oceanus Dwellings are building projects here.
6- Caution: Things to watch out for
You will miss the big malls! Social infrastructure is still not A-class. This also means pedigreed schools or hospitals are missing within Horamavu. The nearest hospital for example can be found either in ITI colony or further down the ORR.
Lakshmi Sivadas, Reporter, NDTV