Latest news with #HanuReddyRealty
Hindustan Times
5 days ago
- Business
- Hindustan Times
From Sholay to Bengaluru South: Can a name change revive Ramanagara's real estate market?
In real estate, branding matters and a name can significantly shape investor perception, market value, and demand. Ramanagara, located about 50 km from Bengaluru, last saw major real estate attention during the release of the iconic film Sholay, which was shot amid its rocky terrain. Now, with the Karnataka Cabinet approving the renaming of Ramanagara district to 'Bengaluru South', experts are cautiously optimistic about renewed interest in the area. While the rebranding could raise land prices, especially in emerging zones like Kanakapura and Bidadi, where property values are already escalating, experts warn that a name change alone isn't enough. The real, sustained impact will depend on how infrastructure development unfolds in the region. On May 22, the Karnataka Cabinet approved the renaming of neighbouring Ramanagara district as 'Bengaluru South'. Ramanagara, about 50 km from Bengaluru, will remain as the headquarters of the renamed district, which will also consist of Magadi, Kanakapura, Channapatna and Harohalli taluks. Also Read: Bengaluru Real Estate: Here's why Kanakapura Road is likely to see major real estate appreciation in 2025 Ramanagara was originally part of the larger Bengaluru district. In 1986, it came under the newly formed Bengaluru rural district. In the same year, Doddaballapura, Devanahalli, Nelamangala, Hosakote, Magadi, Kanakapura and Channapatna taluks were brought under Bengaluru rural district while the remaining became Bengaluru urban district. Later, in August 2007, then-Chief Minister H.D. Kumaraswamy established it as a separate district. The new district included the taluks of Ramanagara, Channapatna, Harohalli, Kanakapura, and Magadi. Local brokers say land prices in Ramanagara have crossed ₹1 crore per acre, rising from ₹50–70 lakh in the last couple of years. "Channapatna is still lagging behind in terms of growth, but Bidadi is witnessing significant development due to its status as an industrial area. Most of the appreciation is happening towards Bidadi, which serves as a connecting point between Bengaluru and Ramanagara. However, residential development in Bidadi is still very limited. Plot prices there typically start at around ₹30–40 lakh," Kiran Kumar, vice president of Hanu Reddy Realty, said. In Channapatna, land is currently selling at over ₹60 lakh per acre, boosted by infrastructure projects like the Bengaluru-Mysuru Expressway. Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion Real estate experts say that, given its many positive connotations, the 'Bengaluru' tag will draw more attention from real estate developers, end-users, and investors in the long term. "If the region witnesses additional infrastructure infusions post this renaming, we can expect considerable momentum to aggregate here in the future. This will have an upward influence on overall demand for housing and commercial real estate, which will also reflect in prices," Ashish Sharma, City Head – Bengaluru, ANAROCK Group, said. However, local brokers point out that the proposed renaming of Ramanagara to Bengaluru South may have minimal impact. "Just changing the name won't bring significant results. It needs real infrastructure development," Kumar said. "As a realtor, I feel the name change alone won't drive much market movement unless we see infrastructure projects coming up that will drive commercial real estate in the area." While the key is infrastructure, Sharma said the renaming may boost the overall perception of and sentiment for this region, especially in areas like Kanakapura. Kanakapura Road is already experiencing significant growth and is emerging as one of the most affordable real estate hubs in South Bengaluru. Land prices close to the main road have reached around ₹2 crore per acre. Apartment projects along Kanakapura Road are priced between ₹1–1.2 crore for 2BHK units. For instance, Provident Park Square apartments are selling for ₹70–90 lakh, while Casagrand 3BHK units are priced at around ₹1.4 crore, Kumar pointed out. Land costs in the area vary from ₹3000-15,000 per sq ft for plots and ₹2-15 crore per acre for land parcels. "The apartment cost in the area is about ₹7000-12,000 per sq ft with Grade A developments typically between ₹10,000-14,000 per sq ft," Sunil Singh, director of RealtyCorp, said. In gated developments like Prestige Primrose, Singh said 2BHK apartments, launched about a year ago, were sold at ₹1 crore from ₹75 lakh last year. Similarly, prices for 1 BHK have jumped to ₹75 lakh from ₹60-65 lakh last year.
Hindustan Times
06-05-2025
- Business
- Hindustan Times
Bengaluru real estate market's rental listing with ₹8 lakh deposit for a 3BHK sparks debate on social media
A Bengaluru apartment rental listing has sparked widespread debate on social media after a landlord posted his apartment for rent with a ₹ 8 lakh deposit and ₹ 1 lakh rent for a 3BHK. The apartment, located between Electronic City and Sarjapura Road towards the eastern IT corridor, sprawls 1400 sq ft. A Bengaluru apartment rental listing has sparked widespread debate on social media after a landlord posted his apartment for rent with a ₹ 8 lakh deposit and ₹ 1 lakh rent for a 3BHK. (Representational Image)(AI-generated image created by Gemini ) "Tell me this is a joke? ₹ 8 lakh deposit for fully furnished? And ₹ 5 lakh deposit for Semi-furnished? No regulations and the greed is just going up and up!" the Redditor wrote. Bengaluru, India's tech capital, has long been known for its steep rental deposit norms, often ranging from six to ten months' rent. While other metro cities have moved towards more tenant-friendly practices, Bengaluru's high deposit culture continues to raise eyebrows among new residents. As property prices surge and the city sees constant migration of working professionals, landlords cite security and investment protection as key reasons, experts say. Also Read: Credai Bengaluru president advocates for Mumbai-style redevelopment to tackle land challenges 'The owner is living under a rock' One of the Redditors wrote, "The owner is living under a rock. That's the only explanation for these unrealistic rents." In Bengaluru, landlords typically ask for a security deposit of 6–10 months of rent. So, for an apartment with a rent of ₹ 40,000 or more, the deposit will be ₹ 4.8 lakh. The high-security deposits have made it difficult for new employees moving to the city to rent apartments. High demand, limited supply allow landlords to set the rules Real estate experts say that due to the high demand for rental properties in Bengaluru, landlords are increasingly in a position to dictate terms. "In several parts of the city, the availability of affordable rental homes is limited, leading to intense competition among tenants. As a result, landlords are raising rental deposits—often demanding what they want without much room for negotiation," Kiran Kumar, vice president at Hanu Reddy Realty, said. One of the local brokers cited a recent case in Indiranagar, one of Bengaluru's upscale localities, where an apartment listed for ₹ 1.5 lakh per month came with a deposit demand of 10 months' rent, totalling ₹ 15 lakh. Defence Colony, just off the 100 Feet Road, is known for its spacious lanes and tree-lined streets. The area is home to top executives and developers, making it one of the city's most desirable residential pockets. In such high-demand locations, landlords have significant leverage in rental negotiations. Also Read: In Bengaluru, drones now deliver groceries and medicines to residents in under 10 minutes Deposit-free rentals are still in a nascent stage in Bengaluru Some experts suggest that introducing deposit-free rental schemes could ease the financial burden on tenants who struggle with large upfront security deposits. In such a model, tenants enter into a rental agreement supported by a third-party rental bond. Instead of paying a hefty deposit, the tenant pays a small, one-time fee to the bond provider. This bond acts as a financial safeguard for the landlord, covering potential risks such as unpaid rent, utility dues, early termination of the lease, or property damage. The approach offers greater flexibility for tenants while still protecting landlords against common rental defaults. 'Currently, one of the biggest hurdles is the limited availability of companies offering deposit-free rental models,' said Sunil Singh of Realty Corps. 'Even though there is growing interest from tenants, we often have to fall back on conventional rental agreements due to the lack of service providers.' He further noted that a lack of awareness is another key challenge. 'Many landlords, particularly those unfamiliar with digital processes, are sceptical. They often ask, 'What if I never receive the insurance payout?' This hesitation is holding back wider adoption of the model,' Singh explained.
News18
24-04-2025
- Business
- News18
House Hunting In Bengaluru? Here's Where To Look If Your Budget Is Tight And Under Rs 50 Lakh
Last Updated: Several developing areas on Bengaluru's outskirts are still offering budget friendly homes, with 2BHK apartments, between 750 and 900 square feet. Bengaluru has become a hot spot for IT professionals and startup entrepreneurs, which has led to a surge in property demand. As a result, property prices in prime areas have gone up and it has become tough for homebuyers with a budget under Rs 50 lakh to find affordable options. However, there's good news for such buyers. Several developing areas on the city's outskirts are still offering budget friendly homes. Reportedly, these areas have 2BHK apartments, between 750 and 900 square feet, which are usually built by small or medium level builders. They are not too expensive and a better option for people who want to buy a home in the Silicon Valley of India without spending too much. As per Hindustan Times, there are many places where you can still find flats under Rs 50 lakh, including the outskirts of Sarjapur and Whitefield in the eastern IT corridor. Kanakapura Road and Electronic City Phase 1 and 2 are also popular among budget buyers. Chandapura, close to Electronic City, has 2BHK options starting from Rs 45 lakh, while Hoskote is also becoming popular, with similar flats for around Rs 47 lakh. Devanahalli and Nelamangala also offer several low cost choices. Other budget friendly places include JP Nagar 7th Phase and Puttenahalli. Speaking about affordable homes in Bengaluru, Kiran Kumar from Hanu Reddy Realty said, 'The few options available near the city centre often come with significant compromises. These are typically projects by smaller local developers, often situated on narrow lanes or in low-lying areas. Many also face issues related to incomplete documentation or ongoing land disputes. This locality is gaining attention due to its affordability and upcoming infrastructure projects." Sunil Singh, director of Realty Corp, added that most of the flats in the above mentioned areas are 2BHK and have a carpet area of around 750 to 900 square feet. Some of them are brand new, while others were built more than 5 to 10 years ago. These are usually individual apartment buildings, not part of large townships or big gated communities. First Published:
Hindustan Times
23-04-2025
- Business
- Hindustan Times
Looking for an apartment under ₹50 lakh in Bengaluru? Check out these locations
As property prices soar across Bengaluru's prime localities, homebuyers with a budget under ₹50 lakh may find themselves priced out. However, emerging neighbourhoods on the city's fringes are beginning to offer more affordable apartment options—particularly appealing to first-time buyers, young professionals, and small families. Promising pockets include the outskirts of Whitefield in the eastern IT corridor, Kanakapura Road in the south, and Devanahalli in the city's northern reaches. The primary trade-off, however, is distance. These areas lie far from the city centre, making daily commutes more challenging and limiting immediate access to well-established infrastructure. Also Read: Bengaluru real estate: Is the North or East a better investment option? With property prices climbing steadily across Bengaluru, real estate experts note that finding an apartment priced below ₹50 lakh is becoming an increasingly rare feat. 'The few options available near the city centre often come with significant compromises,' said Kiran Kumar of Hanu Reddy Realty. 'These are typically projects by smaller local developers, often situated on narrow lanes or in low-lying areas. Many also face issues related to incomplete documentation or ongoing land disputes.' Also Read: Bengaluru and Delhi-NCR housing sales dip amid price hikes and job worries Real estate experts say in emerging real estate pockets, such as the outskirts of the eastern IT corridor of Whitefield and North Bengaluru, a few apartments may be available under ₹50 lakh. "These are usually standalone apartments with a 750-900 sq ft carpet area and mostly 2BHKs. The kind of project varies from newly constructed to about 5-10 years old," Sunil Singh, director of Realty Corp, added. Apartments priced under ₹50 lakh in Bengaluru are mostly in peripheral and emerging localities. In the northwest, Nelamangala offers several options, while in the south, areas like Electronic City Phase 1 and 2, JP Nagar 7th Phase, and Puttenahalli feature budget-friendly units. Towards the east, the outskirts of Sarjapur and Whitefield also have homes in this price range. These properties are typically standalone buildings developed by local or Grade B builders, often situated on the city's fringes or within older, less central neighbourhoods. Chandapura, located near Electronic City, offers 2 BHK apartments starting from ₹45 lakh. The area benefits from good connectivity and is witnessing rapid development, making it an attractive option for budget-conscious buyers. "Hoskote, situated in East Bengaluru, has 2 BHK flats priced around ₹47 lakh. The locality is gaining attention due to its affordability and upcoming infrastructure projects," Kumar added.
