Property prices skyrocket

Property prices skyrocket
BY R. JAYAPRAKASH
BENGALURU








Article Rank










[Click To Enlarge]
: The latest survey by Colliers International has revealed that land prices in North Bengaluru, between Hebbal and BIA at Devanahalli has seen a whopping 40 per cent rise in just four months.

The Knowledge Report for the second quarter states that North Bengaluru areas witnessed a significant rise in QoQ (quarter on quarter) in capital value as well as rental value after Bengaluru International Airport opened, fuelled by the shortage of premium properties in the area.

“Yelahanka has shown rental and capital appreciation in the range of 30 to 40 per cent with buyers grabbing whatever was available. While rental in the area is approximately Rs 18 per sqft, land value is over Rs 4,500 p/sqft,”' the report states.

The residential market of Bengaluru added a supply of approximately 0.5 million square feet, a majority being contributed by Yelahanka, Whitefield and Cooke Town.

Demand is up in Yelahanka on account of its proximity to BIA.