Bangalore’s real estate: These are the top 5 neighborhoods for techies to rent in the city

Techies, good news! MK Stalin, the chief minister of Tamil Nadu, recently announced plans to build a new airport at Hosur, which could help Bengaluru’s Electronic City. 

Tamil Nadu Chief Minister MK Stalin recently announced the construction of a new airport in the border city of Hosur, located 40 km from Bengaluru and only 25 km from the city’s tech hub, Electronic City. This development is good news for Bengaluru’s IT professionals, especially those who have made their home in the southern part of Electronic City. 

For those who do not know, Kempegowda International Airport in Bengaluru is more than 60 km from Electronic City. The commute from Electronic City to the airport currently takes one to three hours. 

Various IT professionals are employed in Hosur’s Electronic City, which offers faster internet and more reasonably priced housing than many other Bengaluru neighborhoods. 

A local broker recounted a recent experience in the property-starved market of IT hub Bellandur in Southeast Bengaluru: “A couple that wanted to move from Electronic City to Bellandur had to pay Rs 5,000 more than the initial rental price cited for a 2 BHK because of high demand.   

According to Saurabh Garg, the founder and chief business officer of NoBroker.com, rentals have increased in some of Bengaluru’s well-known IT hubs due to a mismatch between supply and demand. 

These are five Bengaluru real estate hotspots that are well-liked by the city’s IT workforce. 

Bellandur 

Sarjapur Road borders Bellandur, a well-known IT hub in South East Bengaluru, to the South, and the HSR Layout borders it to the west. Numerous massive corporations call it home, including Wells Fargo, Adobe India, Linkedin, Intel Technology, and Adobe. 

Bellandur offers a good selection of contemporary apartments and gated communities, with projects from prominent real estate companies like Prestige Estates, the Embassy Group, and Sobha Ltd. The region also benefits from the presence of multiple coliving brands. 

“But it is hard to find good options and the rents are too high,” an Amazon India employee who lived in the neighborhood said. 

According to NoBroker data, the average rental price of a two-bedroom apartment in Bellandur is currently Rs 40,000. According to local brokers, rents in this area have increased by 20% in the last 12 months. They attributed the sharp rise to a shortage of land parcels and a supply constraint.  

Whitefield 

Whitefield is a posh IT and residential district located on Bengaluru’s eastern outskirts. 

The average cost of a residential property in this area is currently Rs 10,850 per square foot, based on data available on 99 acres. A 1-BHK apartment can set you back anywhere between Rs46.25 and 87.50 lakh. 

According to NoBroker, the average rental price for a fully furnished 1 BHK is Rs 28,000, while a 2 BHK can be rented for Rs 35,000. According to the Proptech unicorn, Whitefield rent increases have been between 7 and 10% since the Purple Line metro opened for business in March of this year. 

Real estate companies based in Bengaluru, and those from other cities have placed bets on the Whitefield market with several projects, such as Godrej Properties, Prestige Estates, Sumadhura Group, and Sobha Ltd. 

Marathahalli

Marathalli, an East Bengaluru residential neighborhood on the Outer Ring Road, is highly sought-after because of its advantageous 8.6-kilometer proximity to Whitefield. 

As per NoBroker, the current average rent in Marathalli for a 2BHK apartment is Rs 32,000. A local broker stated, “Yet, land in Marathalli is not available for upcoming projects.” He said that prices have increased by 10% to 15% annually. 

According to Propertywala, this neighborhood’s average price per square foot for real estate transactions is currently Rs 9,151. 

Electronic City 

Local real estate brokers in the South Bengaluru tech hub report a 10-15% increase in rentals year over year. 

The price increase in this location cannot be compared to other areas because of the large amount of unsold inventory, according to Kiran Kumar, vice president of Hanu Reddy Realty. He stated, “The share held by apartment landlords is also declining due to the availability of multiple options for paying guests. 

A 2-BHK apartment in Electronic City is currently for rent for an average of Rs 28,000, according to NoBroker. 

Hennur 

Hennur in North Bengaluru has become increasingly popular with IT professionals in the IT city as a preferred residential area after the COVID-19 pandemic. Six kilometers separate it from the well-known Manyata Tech Park. 

According to Kumar, property values in this area have increased by 10% to 15% over the past 12 months. He also mentioned to expect a greater demand for 2 and 3 BHKs in this area. 

According to Square Yards, a 950-1,200 square foot 2 BHK unit in Hennur currently rents between Rs 32,300 – 40,000. A 1,250- 1,630 square feet 3BHK rents for Rs 43,100 -55,600. 

The Kempegowda International Airport is located in North Bengaluru, while Hebbal is 25 kilometers away. 

According to Propertywala the average residential property rate in Hennur is $10,850 per square foot. 

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