[ecis2016.org] Indira Nagar is one of Bengaluru’s major residential areas, located in the eastern part of India’s ‘Silicon Valley’. As per market studies, Indira Nagar is one of the most posh areas in Bengaluru. It has at least 40 projects that are under construction and lies near areas like Ulsoor and Domlur, where property rates are higher
The Indira Nagar real estate market has benefited hugely, owing to the presence of good social infrastructure and the fact that it is surrounded by the important business zones of Bengaluru. Indira Nagar has seen major change, ever since the IT boom happened. Demand has rapidly gone up for flats in Indira Nagar, thereby, attracting a large number of migrants and giving rise to a more cosmopolitan neighbourhood.
You are reading: Indira Nagar property market: An overview
The neighborhood is bounded by Vimanapura, Domlur, Ulsoor and Byappanahalli. It was formed as a BDA Layout in the 1980s and is named after former prime minister Indira Gandhi.
The area once had huge independent houses and bungalows, mostly owned by defence personnel. However, the 100-Ft Road and Chinmaya Mission Hospital Road (two key arterial roads in the locality), transformed the region into buzzing commercial hubs, post the IT boom. Indira Nagar is bifurcated into 2 stages with the first stage being the biggest.
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The Indira Nagar Sangeetha Sabha is a major cultural organisation in the area and has built the Purandhara Bhavan for promoting theatre, music, dance, drama and performing arts. The Indira Nagar Club is another major landmark, spread over 2.5 acres and it offers fitness and yoga facilities, sports facilities and more. The Defence Colony Playground is also located here, along with the Children’s Park and Old People’s Park. Schools like National Public School, Frank Anthony Public School and New Horizon Public School, are the other landmarks here.
There are a number of options available, when it comes to apartments in Indira Nagar, although 2 and 3-BHK flats are the most preferred ones here. There are several leading builders in Indira Nagar including Godrej, Prestige, Ozone and many others. Some of the landmark projects in Indira Nagar include Godrej United and Purple Woods, which are big-ticket residential offerings, coming up in the locality. These projects have contributed hugely towards the development boom here.
While this region is ideal for the people who have to travel to the IT sector and the major surrounding areas, it is also one of the costliest regions of Bengaluru, with high property rates. Other nearby Indira Nagar localities include Vimanapura, Ulsoor and Domlur.
Due to its strategic connectivity to the major IT parks here, along with all necessary social infrastructure, Indira Nagar offers high rates of return on investment, in comparison to its neighboring localities.
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[ecis2016.org] Property rates & trends in Indira Nagar, Bengaluru
Connectivity with nearby Indira Nagar localities
- Well-connected to prime locations, such as Vimanapura on the east, Ulsoor on the west, Byappanahalli on the north and Domlur on the south.
- The Namma Metro’s Purple Line, connects Indira Nagar and has two stations in the neighbourhood – Indira Nagar and Swami Vivekananda Road stations.
- BMTC bus network connects this area to several other parts of the city.
- The airport lies 41.5 kilometres away from Indira Nagar and can be accessed through the National Highways 44 and 75.
Proximity to employment hubs in Indira Nagar
- Koramangala – 6.7 kilometres via a multi-lane Inner Ring Road.
- Electronic City – 19.2 kilometres via Hosur Road and 100-Ft Road.
- ITPL – 13.5 kilometres via Whitefield Main Road and Swami Vivekanand Road.
- Whitefield – 14.3 kilometres via Varthur Main Road.
- RMZ EcoSpace – 13.1 kilometres via 100-Ft Road.
Indira Nagar boasts of a great social infrastructure. Reputed schools in Indira Nagar include the National Public School and The Frank Anthony Public School, Bengaluru. Leading hospitals in Indira Nagar include the MJ Child Clinic and KL Hospitals Pvt Ltd. Popular malls in Indira Nagar include the Lorven Leo and VVN Arcade, to name a few. There are several pubs present in the area, as well.
Price trends in Indira Nagar
- Price appreciation – 11%-14% over the past couple of years.
- Current property rates – Rs 6,158-11,264 per sq ft.
Why should you invest in Indira Nagar
Considering the price trends in Indira Nagar and factors like its geographical location and connectivity, the demand for residential spaces is expected to increase in the future. Although it is a high-end property market, there is still potential for growth, particularly from a long-term investment perspective. Indira Nagar offers excellent connectivity, in tandem with social infrastructure. There are a few teething issues like garbage disposal, random cutting down of trees and so on. There have also been some protests from local residents, about the rampant commercialisation of this peaceful residential neighborhoods. Overall, Indira Nagar is a good investment option.
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Category: Lifestyle
