According to a Knight Frank report on affordable housing, affordable housing units are springing up in areas where there is a larger concentration of middle income end-user segment. Most builders in the city are concentrating on constructing one and two BHK apartments as affordable homes, with sizes varying from 500-900 sqft and cost varying from Rs 1200-2500 per sqft. The cost of an affordable unit would vary from Rs 15-30 lakh depending on the location.
With large land parcels on the outskirts of the city being cheaper, several developers have launched their affordable housing projects in the suburbs of Yelahanka, Doddaballapur, BTM Layout, Whitefield, Jigani, Sarjapur, and Kanakapura Road. Areas around Bellary Road leading to the airport have seen a spurt in the launch of residential units in the last one year alone with the road connectivity being a singular factor driving the demand here. Sarjapur Road continues to hold demand and the areas leading to Sarjapur Village and in the vicinity of the police station are seeing a spurt in an assortment of affordable housing units including compact villas.
According to the Knight Frank survey, the sentiments in the real estate industry are that although there is not much reduction in price, the absolute reduction in unit cost would be sufficient to drive affordable housing demand.Affordable housing projects are coming up along Doddaballapur Main Road, Hesaraghatta Road, Jakkur, Allasandra and Hennur ORR. Planned plotted layouts leading from Doddaballapur Main Road towards Nelamangala are finding takers in investors who prefer buying land to an apartment.BTM Layout, Kanakapura Road, Electronic City and Sarjapur ORR are where homes in the affordable range have been planned. Several affordable projects have been announced around Whitefield in Hoodi and Kadugodi.
Tags: affordable home, Apartment, Bangalore, Bangalore East, Buying, doddaballapur bangalore, Housing Developement, indian real estate, market trend, Real Estate India, sarjapur road, whitefield
