Is It Worth Buying Land in Devanahalli?
Worth Buying Land in Devanahalli
Purchasing a plot of land in Devanahalli can be a lucrative investment. The area offers excellent connectivity through metro rail. By the end of this decade, the Namma Metro phase 2 is expected to reach the area. However, before investing in a plot, make sure that the land is designated for residential projects.
Developers are eyeing Devanahalli as a priority location for property and infrastructure projects. There are plans for $2.2 billion worth of investments in this business park within the next five years. The government has also designated 104 acres of land for government projects in tourism, aviation, and the power industry. The remaining 309 acres will be used for manufacturing and assembly units. The Karnataka government is also planning to build an entertainment park called Space City in the area, which will boost tourism prospects.
The IT-related sector is a major draw in Devanahalli. Living here will allow you to save on time and stress as you commute to work. Plus, the area is relatively pollution-free and clean. In addition to this, major real estate development companies are constructing residential projects in Devanahalli. These developments are being built to international standards and are loaded with lavish amenities.
The city’s multimodal transport connectivity is also important. With the Namma metro, Devanahalli will be linked to the city centre and the airport. Moreover, the proposed Ring Road (PRR) will connect the city’s outer suburbs with major roads.
Is It Worth Buying Land in Devanahalli?
The area is home to several software and technology companies. The close proximity to these companies makes living in Devanahalli a lucrative proposition. More technological companies are likely to enter the area in the future. Devanahalli offers a good mix of large and small plots. Generally, the plots are between 160 and 180 square yards in size. In addition, nearly all plots in the area have been approved by the Bangalore International Airport Area Planning Authority (BIALAPA).
Some residents turned into real estate agents. A young man from Manesar explains his experience. His family’s 4.5-acre farmland was sold for Rs 15 crore per acre. He says it was the highest price the area has ever seen for land. The family has built eight single-storey homes and a palatial mansion block. He has also invested in a cement distributorship.
The real estate market in Bangalore is characterized by transparency and balance. The majority of the buyers in the city are IT professionals and white collar workers. Besides local buyers, NRIs are also choosing Bangalore as a real estate investment hub. The affordability of real estate in the city and the quality of real estate properties make this city an attractive investment destination for many foreign nationals. Therefore, you can count on the market to be competitive and dependable.
