[ecis2016.org] Malleswaram is located in the north-western part of Bengaluru and is a developing very fast, with lucrative average annual returns that draw investors towards it. Malleswaram currently has many new and upcoming residential projects under construction and lies near areas like Majestic and Yeshwanthpur, where the property rates are higher
The Malleswaram real estate market has boomed, due to rapidly-developing infrastructure. Demand for flats in Malleswaram has always been high, due to the peaceful nature of the locality. The area was made into a properly planned suburb, after the plague in 1898. The Sampige Road is named after S Venkataranga Iyengar. The area is home to several prominent residents, including badminton world champion Prakash Padukone, movie stars Jaggesh and Saroja Devi, carnatic musician Doraiswamy Iyengar and scientist Krishnaswamy Kasturirangan. Nobel laureate CV Raman has also lived here.
You are reading: Malleswaram property market: An overview
Malleswaram was earlier a quiet suburb, with ample natural greenery and lovely boulevards. There was a big ground and several historic temples, including the Kadu Malleswara Temple. The famous Central Tiffin Room (CTR) is a major landmark here, along with several restaurants and the KC General Hospital. The 8th Cross Market, is another major landmark here. The area developed rapidly in the 1980s, when apartment complexes started coming up here. The area is home to a strong upper-middle and middle-class population, while there are some elite zones, as well. The latter are predominantly on the western side. The Indian Institute of Science is present here, while the World Trade Centre is nearby.
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There are various choices, when it comes to buying apartments in Malleswaram, although 2 and 3-BHK are mostly preferred here. There are many well-known builders in Malleswaram like Sobha Group, Puravankara, Prestige, K Raheja, Uniworth and Brigade, who are engaged in developing some popular new projects in Malleswaram like Salarpuria Sattva Luxuria and Embassy Heritage.
Malleswaram offers mid-range, premium and luxury housing options. It is one of the most coveted residential zones in the city. Other nearby Malleswaram localities includes ORR, Indira Nagar, Majestic and other parts of central Bengaluru.
Connectivity with nearby Malleswaram localities
- Well-connected to the Bangalore City Junction Railway Station – 3 kilometres.
- Malleswaram is located 32.4 kilometres away from the Kempegowda International Airport.
- BMTC bus services connect this area to various other parts of the city.
Employment hubs near Malleswaram
- Embassy Manyata Business Park – 11.6 kilometres via Bellary Road.
- Koramangala – 14.8 kilometres via Hosur Road.
- International Tech Park (ITPB) – 26.8 kilometres via NH-75.
- KIADB Industrial Area – 3.7 kilometres via Hare Krishna Road.
- Bagmane Tech Park – 13.9 kilometres via Sankey Road.
- World Trade Centre – 2.6 kilometres via 8th Main Road.
- Electronic City – 24.1 kilometres via Hosur Road.
- Wipro Corporate Office – 7.2 kilometres via Queens Road.
[ecis2016.org] Property rates & trends in Malleswaram, Bengaluru
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Malleshwaram has strong social infrastructural support. Reputed schools in Malleswaram include the Indian Institute of Science and Kendriya Vidyalaya. Leading hospitals in Malleswaram include the Manipal Northside Hospital and KC General Hospital. Popular malls in Malleswaram include the Orion Mall.
Upcoming physical infrastructure in Malleswaram
- The 8-lane Peripheral Ring Road, once complete, will serve to decongest traffic in the entire area.
Price trends in Malleswaram
- Price appreciation – 3%-10% over the last quarter of 2016.
- Current property rates – Rs 8,688-14,135 per sq ft.
Reasons to invest in Malleswaram
The present price trends in Malleswaram offer scope for limited appreciation in the near future. The area boasts of numerous educational institutions and a shopping street of its own (8th Cross). It also offers great connectivity to the railway station, parts of central Bengaluru and several IT and business hubs. The area is home to prominent people and is also properly planned. Traffic management and parking hassles are the only teething problems in the locality.
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Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
