Hoskote is new emerging property hub in the neighborhood of Bangalore that has high supply of residential properties of all kinds. Here is sneak peek into the realty cluster.
Hoskote, located 25 km from Bangalore city, is set to become a hot destination for new home buyers. The residential property prospects of this locality are promising.
Cut to last three to four years, the entire Hoskote road belt was chiefly an industrial area. Today, the expansion of IT industry and setting up of domestic and international BPOs has attracted more migrants looking to settle close to their working places. This move has given momentum to the real estate activity in the locality.
Rebin Thomas, a real estate advisor in Kalyan Nagar, said, “Hoskote is a well-planned township set around manufacturing industry and auto hubs and has smooth connectivity to railway and metro stations, airport and notable IT hubs like Electronic City & Whitefield. Hence, the area is witnessing remarkable development in the residential property market.”
Hoskote is one such locality in south of Bangalore where real estate development is taking place at a fast pace.
Emprasa is building Bangalore’s first ‘smart city’ in Hoskote. The project sprawls over 48 acres and would comprise of 10,000 apartments for offices and living spaces. The city of the future is dedicated to startups looking for innovation hubs, VCs, incubators and angels at one place.
An emerging property hub
An auto hub spread over 1,500 acres has been planned in Narsapura near NEO Bangalore. Logistics parks have also been proposed in the locality. The industrial area of Hoskote comprises of 200 small and large industrial units, engaging a massive number of professionals.
An affordable property market
Low-ticket size apartments are available from Rs 19 lakh only – this is a lucrative price bracket for investors or home buyers who wish to invest in Bangalore real estate market without taking much burden on their pocket. The average price range for all residential apartments in Hoskote Bangalore is between Rs 2,300-Rs 3,500 per square feet.
Attractive payment plans
In Artha smart city project, investors need to pay only 10% and the rest 90% is will be funded by financial institutions. In some cases, buyers need not pay any EMI till possession and hence the interest liability is removed for the time period. This new payment plan enables end users to participate in the growth of Bangalore real estate.
Price appreciation trends
Prices are up from Rs 2,800 per sq ft in December 2015 to Rs 3,000 per sq ft in March 2016, showing 7% growth in five months.
Investors can gain assured rental value after they get possession of their property as in the near future, the locality is expected to be inhabited by a large number of working professionals.
There is excellent connectivity with the road since a six-lane super highway to Chennai originates from here. The proposed satellite township ring road (STRR) will be linked through this area. NH 4 can be accessed after 3.5 km and international and CBD airports are located at a distance of 18 km and 20 km, respectively.
The area is well-mapped with several good educational institutions, hospitals, public sector banks, shopping malls and community halls.