If Ramanagara District Is Renamed As “Bangalore South”, Property Prices May Soar In The Area

The real estate market in the Silicon Valley of India has been solid in the past 5 years with a slight dip during the COVID times but property prices have shot up dearly as the new guidance value, which is on an average 30-40% higher than the previous one and in some cases even double, came into effect earlier this month.

While citizens are coping with the new guidelines and skyrocketing property prices, Deputy Chief Minister, DK Shivakumar's comment to include his own constituency of Kanakapura has raised several questions. Kanakapura is in Ramanagara district which was carved out of Bengaluru Rural district in 2007. The district has five taluks including Kanakapura.

Barring political debate, the real estate sector in the city will have a keen interest in the development of this news. Bangalore property buyers have experienced a sharp rise in property prices already this month and local brokers say that the most hard-hit areas are Yelahanka, Krishna Raj Puram and Electronic City.

Source: Agrocorp

What Happens If Kanakapura Becomes Part Of Bengaluru South

If the plan materialises, then talukas of Channapatna, Ramanagara, Magadi, Harohalli, Kanakapura will become a part of the extended Bengaluru district.

Bengaluru Urban comprises of Bengaluru North, South, East, Anekal and Yelahanka taluks which covers an area of about 2,196 sqare kilometers. Kanakapura, itself, comprises 1,500 kms and will be marked as an important expansion of the city.

Most big real estate companies declined to comment when asked about a possible spike in house prices if this happens.

But a few brokers who didnt want to be named said that house prices in Bengaluru South will soar and cost of living will also be higher and considering the rising number of immigrants coming to the city, builders will have a gala time.

Event rent for these area will increase as investment may pour.

Source: Magicbricks

Rental demand and supply by rental rates and size of property.

Bengaluru residential sector accounts for 20 percent of the total new launches and 23 percent of the sales among India's top seven cities in India, according to a Times report. 14,485 housing units were inaugurated during H1 2023, a 15 percent fall versus last year. Still the city has observed 20 percent growth in sales and has an unsold inventory of 86,000 units as of H1 2023.

Whitefield is responsible for 35 percent of the new launches, followed by Bellary Road at 26 percent and Hosur Road brought 20 percent share in the new launches during H1 2023, the report showed.