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Hindustan Times
2 days ago
- Business
- Hindustan Times
Bengaluru real estate: Luxury villa rentals up on the back of rising demand from expats, HNIs and NRIs
Bengaluru's luxury villa market is seeing a surge in demand, with monthly rents now reaching as high as ₹4 lakh. In one case, a 10,000 sq ft villa in Prestige Golfshire near Nandi Hills was leased to a senior executive of a multinational company for ₹4 lakh per month, twice the rent fetched by a similar property in the area just two years ago. Brokers told that the security deposit for the deal exceeded ₹20 lakh. Once considered an exclusive luxury, villas in Bengaluru are now drawing strong interest from high-end tenants, with demand driven by HNIs and NRIs. Brokers point out a strong interest in the segment, prompting developers to roll out new villa projects priced between ₹2 crore and ₹5 crore. According to Sunil Singh, director at Realty Corp, demand from expatriates, NRIs, and senior executives has pushed rents for villas to nearly double compared to just two years ago. Villa rentals across the city are showing similar trends. A 3BHK villa in Adarsh Farm Meadows in Whitefield is currently quoted at ₹2.85 lakh for 4,000 sq ft. Despite an abundance of villa developments in areas like Whitefield, Sarjapur Road, and Varthur, demand remains high. According to Singh, tenants looking for high-end villas frequently request additional amenities. 'If a villa is semi-furnished, tenants often demand full furnishing. Some even ask for private pools. If a landlord spends ₹5–10 lakh on furnishing, they can increase the rent by ₹50,000– ₹70,000 per month,' he said. Also Read: Bengaluru real estate: Here's why demand for villas in the IT capital is rising In East Bengaluru, particularly the eastern IT corridor of Whitefield, Varthur Road, and Sarjapur, 4,000 to 5,000 sq ft villas typically rent for ₹2.5 lakh per month. Further out, in areas like Budigere Cross and Soukya Road, similar properties fetch around ₹1.25 lakh per month. Brokers said most villas include 300 to 400 sq ft garden spaces, and a few come with private pools. In North Bengaluru, areas like IVC Road offer fully furnished villas starting at ₹2 lakh per month for 4,000–5,000 sq ft configurations. Local brokers estimate that nearly 95% of East Bengaluru's luxury villa inventory is concentrated in Whitefield, which continues to attract tech professionals working in nearby parks like ITPL. South Bengaluru has fewer high-end villa projects. Towards Hosa Road, 10,000 sq ft villas are available at ₹2.5 lakh per month, while properties like LGCL Ashlar command rents of up to ₹3 lakh per month with features like private pools and luxury amenities. Kanakapura Road also offers luxury villas in the ₹1.5–2 lakh range, though pools are rare unless negotiated by the tenant as part of a longer-term lease. Also Read: Bengaluru real estate: Here's why US-based NRIs prefer to invest in North Bengaluru Most villa rentals in Bengaluru have an 11-month lock-in period, and landlords prefer tenants with stable professional backgrounds. Security deposits typically amount to six months' rent, meaning ₹24 lakh upfront for a ₹4 lakh monthly rental. The rise in villa rentals is largely driven by expatriates, high-net-worth individuals (HNIs), and NRIs. 'Many are upgrading from premium apartments. One startup founder living in Banashankari is now seeking a villa in North Bengaluru with a ₹2.5 lakh budget,' Singh said. For investors, North Bengaluru areas like IVC Road, Hennur, and Bagalur offer good rental returns, with Bagalur increasingly becoming a hub for NRI and expat tenants. Singh estimates that 25–30% of luxury villa renters in Bengaluru are now NRIs.
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.
