[ecis2016.org] Vijayanagar is one of western Bengaluru’s fastest-growing neighborhoods and has been giving impressive average annual returns, thereby, attracting property investors. Vijayanagar currently has many new and upcoming real estate projects and lies near areas like ORR, Rajajinagar and Nagarbhavi, where the property rates are higher
Vijayanagar real estate demand has gone up in recent times, on account of its flourishing social infrastructure and connectivity options alike. Demand has increased rapidly for flats in Vijayanagar. There is a wide array of choices available when it comes to buying apartments in Vijayanagar, although 2 and 3-BHK are mostly preferred. Vijaynagar is a major neighborhood in western Bengaluru that gets its name from the erstwhile Vijayanagara Empire which was a dominant south Indian force in the 15th and 16th centuries.
You are reading: Vijayanagar property market: An overview
The locality offers easy access to the Magadi Road and Mysore Road, while the Chord Road also passes through it. The Public Library is a major landmark in the locality and is one of the biggest in the state of Karnataka, as well. The JustBooks Community Library is also present at Chandra Layout, while the area also has the Karnataka Haridasa Scientific Research Centre.
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Educational institutions like the MS Ramaiah Institute of Technology, SIT College of Engineering, Bangalore University, PES Institute of Technology and National Law School of India University, are major landmarks near the locality. The eastern part of the area is known as the RPC Layout and it is now called Hampi Nagar. Chandra Layout is one of the most coveted areas in the city.
There are many reputed builders in Vijayanagar including Puravankara, Prestige, K Raheja, Sekhar, Brigade and others. Several projects in Vijayanagar like Vaibhav Regency and Flourish Gurushree, have transformed the area in recent times. While this is locality is a good choice for affordable to mid-range housing, its neighbouring areas cater mainly to the upper end of the market. The nearby Vijayanagar localities include Mysore Road, Magadi Road and Chord Road areas.
Connectivity with nearby Vijayanagar localities
- Well-connected to the Chandra Layout and ORR.
- Excellently connected to the rest of Bengaluru via Mysore Road, Magadi Road and the Chord Road.
- Vijayanagar is located 41 kilometres away from the Kempegowda International Airport.
- BMTC bus service connects Vijayanagar directly to Bengaluru Central, i.e., Majestic, along with accessibility to all other parts of the city.
Employment hubs near Vijayanagar
- Wipro Corporate Office – 11.6 kilometres via Mysore Road.
- Koramangala – 16 kilometres via Mysore Road.
- Embassy Manyata Business Park – 18.4 kilometres via Bellary Road.
- International Tech Park (ITPB) – 26.9 kilometres via Whitefield Main Road.
- Bagmane Tech Park – 18.9 kilometres via Mysore Road.
[ecis2016.org] Property rates & trends in Vijayanagar, Bengaluru
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Vijayanagar comprises of impressive social infrastructure for the residents. Some of the reputed schools in Vijayanagar are The New Cambridge High School, RNS Vidyaniketan School, New Public English School and Shree Bharathi Vidyalaya. Leading hospitals in Vijayanagar offering world-class healthcare services include Vijayanagar Global Hospital, Shobha Hospital, Gayathri Hospital and Sri Vinayaka Hospital. Some of the popular malls in Vijayanagar include Gopalan Legacy Mall, Gopalan Arcade Mall and ETA Namma Mall.
Upcoming physical infrastructure in Vijayanagar
- The proposal by the Karnataka state government, to construct the 8-lane Peripheral Ring Road, will certainly help to decongest traffic in the entire area.
- Construction of the elevated expressway, will also offer seamless connectivity to many other important areas of Bengaluru.
Price trends in Vijayanagar
- Price appreciation – 8%-14% over the last couple of years.
- Current property rates – Rs 4,483-6,585 per sq ft.
Reasons to invest in Vijayanagar
Considering current price trends in Vijayanagar and rapidly developing social infrastructure, it makes sense to invest in the locality. The rates are very competitive and there is good connectivity to several business destinations, as well. Teething problems in the area include garbage disposal issues, water supply problems and traffic congestion.
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