[ecis2016.org] Rajaji Nagar is one of Bengaluru’s fastest-growing residential areas, located in the western part of the ‘Silicon Valley’ of India. Rajaji Nagar currently has more than 60 residential projects under construction and is bordered by places like Basaveshwaranagar, Malleshwaram and Mahalakshmipuram, where the property rates are lesser
The Rajaji Nagar real estate market has witnessed swift growth, on account of its connectivity improvements and other developments. Demand has gone up for flats in Rajaji Nagar and the locality has turned more cosmopolitan, in recent years. The area is bordered by Mahalakshmipuram, Basaveshwaranagar and Malleshwaram. The Rajaji Nagar Industrial Suburb is a major landmark, while the area is divided into the Stage 1 and Stage 2. The 1st stage has a further 6 blocks, while the 4th block also has M and N block divisions. There is a four-lane grade separator, which helps traffic flow seamlessly towards Okalipuram.
You are reading: Rajaji Nagar property market: An overview
The area lying to the west of the Chord Road was earlier held to be a part of Rajaji Nagar, but it is now part of Basaveshwaranagar.
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The Chord Road is a major connectivity lifeline here and runs for 8 kilometres. The area is named after C Rajagopalachari, the iconic freedom fighter from Tamil Nadu. The Yeshwantpur-Rajajinagar-Malleswaram corridor, has witnessed the development of big apartment complexes, which has scaled up the appeal of the locality. Phoenix has already launched Kessaku, a major luxury project in the area and this is located near the Orion Mall and Sheraton Towers.
When it comes to apartments in Rajaji Nagar, there are various options available, although 2 and 3-BHK are the most preferred configurations. There are many reputed builders in Rajaji Nagar including Puravankara, Prestige, Sobha, Godrej Sekhar, Brigade and others.
This place is a good bet for mid to upper-range of housing options, similar to other areas such as Marathahalli and HSR Layout, which cater mostly to the higher range of the real estate market.
Connectivity with nearby Rajaji Nagar localities
- The Rajaji Nagar Railway Gate is the nearest railway station.
- The nearest metro stations are Rajaji Nagar Metro Station and Srirampura Metro Station.
- Rajaji Nagar is located 37 kilometres away from the Kempegowda International Airport (about an hour’s drive).
- BMTC bus network connects the area to several other parts of the city.
Employment hubs near Rajaji Nagar
- Embassy Manyata Business Park – 15.3 kilometres via Chord Road.
- Koramangala – 13.6 kilometres via Hosur Main Road.
- KIADB Industrial Area – 20.9 kilometres via Swamy Vivekananda Road.
- Rajaji Nagar Industrial Suburb.
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Reputed schools in Rajaji Nagar include the Venkat International Public School, K.L.E Society’s School and Venus International School. Leading hospitals in Rajaji Nagar include the Kanva Diagnostic, Sagar Hospitals, Pandit Deendayal Upadhyaya Dialysis Centre, Ananya Hospital and many others. Popular malls in Rajaji Nagar include the Total Superstore and Golden Heights, to name a few. The Orion Mall is also located nearby.
Developing physical infrastructure in Rajaji Nagar
- The 8-lane Peripheral Ring Road will help to distribute traffic in the entire corridor, during peak office hours.
Price trends in Rajaji Nagar
- Price appreciation – Nearly 24% over the last few years.
- Current property rates – Rs 9,543-15,155 per sq ft.
Reasons to invest in Rajaji Nagar
Considering the price trends in Rajaji Nagar, there is scope for some appreciation, as several big-ticket residential projects are being developed here. Also, property rates are on the higher side here, due to several luxury projects from leading developers. Appreciation may be on the slower side, but there is some scope for growth. There are some garbage disposal issues, along with other issues related to civic maintenance. Nevertheless, this area makes for a good residential destination.
Check properties in Rajaji Nagar
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
