Many local Bangaloreans will be aware of the fact that Tipu Sultan was born in Devenahalli. Who knew then that today it would emerge as a fantastic option for residential properties in 2017? The residential plots in Devanahalli, Bangalore is in the news as the realty sector shifts here. The place is historic and scenic and that is why many homebuyers are now interested in moving bag and baggage to this region. Nearly 10 years ago it was touted to be the next real estate destination as builders offer plots for sale near Devanahalli.
What is Devanahalli the new hub for real estate?
When the erstwhile Vijaynagar Empire flourished, the Devanahalli Fort was made. It was a tourist destination until sometime back with people wishing to see the fort and go for picnics too in the surrounding areas. As development continues the area is well connected to NH7 and NH207, the Outer Ring Road, Tumkur Road and Old Madras Road. As this part of the city grows further, the government has decided to expand other underdeveloped areas around it. Dobbespet and Hoskote will be reachable through Devanahalli as the Satellite ring road opens up. Already buses and trains ply towards various parts of the city. There is an additional conveyance in the 3rd phase of the Namma Metro that will help in relaxing the congestion between Nagawara and the international airport. With so much development, other public utilities like malls, shopping complexes, schools, and hospitals will also flourish. Already small residential projects have been completed here. A few years ago a price range of Rs. 900 to 2500 per square foot prevailed in the area. As the area becomes more important, apartments are gradually filling up the place. Thus the need for plots is being met with villa plots for sale in north Bangalore. Reputed builders offer plots for Rs. 30 lakhs to potential buyers.
Why a plot is better than an apartment?
Depending on the age group and investor needs, plots can be considered to be a better option. A plot is purchased at a lower cost than a home, which is already built. It also goes without saying that one can build the home in a personalized manner unlike an apartment that already has fixed spaces created for various rooms. When investing in a plot in a locality like Devanahalli, the current indications show that the price will appreciate in a shorter period. A plot in a scenic location is eco-friendly and allows healthy living as compared to the congestion and pollution that the main town is facing. Many new buyers like to even have energy-efficient homes which is possible when a plot is purchased. It is not possible in an apartment but the same is done while constructing a villa.
Another reason, why the residential plots in Devanahalli, Bangalore are attractive includes the flow of funds. Once the plot is purchased, you can take your time to build when you have enough funds or when you are confident of getting EMIs from banks. In the interim period, you can see how the area becomes more habitable. Right now there are limitations on the loans for plots unless they fall in the main municipal limits of the city.
Make occasional site visits
Many developers offer one-time site visit for homebuyers who wish to invest in plots. Once the deal is sealed, it becomes your duty to check on the plot and how the development around it is progressing. This means the civic amenities, which are promised, should start taking shape as promised by the builder. While Devanahalli may boast of other connectivity and utilities, the project where you are investing should be close to such facilities. When you make weekend visits to check speak to the builders to know about the rest of the plans to make residential space viable.
Samantha is a business architect in the real estate industry. She has 5 years of experience in this industry and has got huge knowledge on the various real estate projects like plots for sale near Bangalore international airport. Connect to know