Bengaluru, known for its booming IT industry, is also attracting investors looking to buy residential plots. Rajesh Joshi, a hospitality sector professional, has been exploring plotted developments in north Bengaluru. He found several options spanning 1350 sq ft, priced at around ₹50 lakh. Rajesh plans to either build a retirement home or sell the plot later if he gets a good return on investment.
Over the past few years, plotted developments have emerged as a lucrative investment choice. In fact, in certain areas like north and east Bengaluru, the appreciation in plot prices has outpaced that of apartments and villas, according to real estate experts. Sunil Singh, director at Realty Corps, notes that the northern part of Bengaluru, including areas like Devanahalli, Hennur, Bagalur, and outskirts of Yelahanka, has seen significant growth in plotted developments.
The east of the city, particularly along the IT corridor of Whitefield, Sarjapur Road, Varthur, and Panathur, is also experiencing price growth, with the introduction of upcoming infrastructure like the suburban rail, Peripheral Ring Road, and the Bengaluru Satellite Town Ring Road, fueling demand.
Southern Bengaluru, including areas such as Kanakapura Road, Banashankhari, and JP Nagar, has also seen appreciation, thanks to new infrastructure corridors. Kiran Kumar, vice president of Hanu Reddy Realty, notes the continued growth in these areas as well.
In north Bengaluru, particularly near Devanahalli, Grade A developers are offering plots starting at ₹7,000 per sq ft for a basic 1200 sq ft plot. Smaller projects in places like Hennur and Bagalur are priced at ₹6,000 per sq ft, while gated communities can cost higher. In contrast, the east and south see plots priced at ₹4,000 to ₹5,000 per sq ft, though prices in the southern regions like Kanakapura Road have jumped by 10-15%, reaching ₹5,000-6,000 per sq ft.
Overall, Bengaluru's residential plot market continues to thrive, driven by rising demand and infrastructure developments across key areas. For buyers like Rajesh Joshi, this could be an opportune time to invest in a promising property for long-term returns.
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