Bangalore is surely feeling the brunt of the IT slowdown.
However, established suburban areas like Koramangala, Outer Ring Road and Bellari Road continue to be good investment destinations. As in the case of Mumbai, appreciation is not a focal point in the current scenario - these are the areas that will sustain their prices, while others will correct.
Apart from these, Mysore Road -which encompasses the upcoming NICE corridor, has lots of future promise, thanks to good connectivity to Mysore and may commercial developments being planned there.
Drivers (Koramangala)
1. No scope for fresh developments.
2. Close to Electronics City.
3. Demand for residential projects is high.
Rates are between Rs. 7000-8000 per sq ft.
Drivers (Outer Ring Road/Bellari Road)
1. Close to IT hub.
2. Outer Ring Road is close to Whitefield and is a commercial area.
3. New developments are coming up on Bellari Road, which is also close to the Devenhalli airport.
Rates - Rs. 3500 - 5500 per sq ft. Apprecition potential between 5-8 per cent short terms. Long-term 10-15 per cent
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