Renaming of Bengaluru North, South, Greater Authority rollout spark investor interest
They opined that the renaming, along with the rollout of the Greater Bengaluru Authority, has dramatically shifted the investor behaviour, as investors, especially NRIs, now prefer to invest in larger plots in these locations that were once overlooked as villages. They said there is also an interest spike in rural belts beyond Nelamangala, Harohalli, Hosur border and Magadi Road, among others.
Proptech startup Homely Yours founder Alok Priyadarshi said, 'We have been tracking a noticeable behavioural shift among NRIs ever since the Greater Bengaluru announcement. On our platform, we recorded a 68% Q-o-Q jump in plot inquiries across Mysuru Road and a 23% spike along Kanakapura Road, with majority of these coming from NRIs based in the UAE, Singapore, Australia and the US.'
He said, 'Interestingly, 72% of NRI buyers in these corridors are opting for plots that are above 2,400 sqft, with a focus on a long-term vision for lifestyle-led development, rather than short-term flipping. Localities like Hampapura, Ramohalli, Donnenahalli, and fast-rising belts near Magadi Road and Kumbalagodu, which were previously considered rural buffers, are now being re-evaluated as high-potential investment zones.'
He said, 'Parallelly, we have also seen a 41% surge in listings by landowners in these pockets. Many listings are from generational landholders who previously had no interest in liquidating, but are now recognising the premium value their land commands post the Greater Bengaluru announcement.'
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