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Belgaum, Karnataka Real Estate

Overview of Belgaum

Belgaum, also known as Belagavi, is a city in Karnataka, India, that has shown a strong real estate market. Let's delve into some key points when it comes to buying or renting property in Belgaum.

Economic and Infrastructure Development
  • Strong Economy: Belgaum thrives with a well-developed agricultural and industrial foundation. With a GDP of ₹159.65 billion, the city is home to an Aerospace Precision Engineering and Manufacturing Special Economic Zone (SEZ). We also see various industries such as heavy tools and oil hydraulics.
  • Infrastructure: The city offers excellent economic and commercial infrastructure. It includes new highways, flyovers, and one of India's first aerospace engineering SEZs, housing multiple industrial areas and buildings.
Employment Opportunities
  • Industrial and Agricultural Sectors: With strong agro-based industries, aerospace engineering, and other manufacturing sectors, residents find ample employment opportunities, making this an attractive locale.
Safety and Security
  • Low Crime Rate: The crime rate in Belgaum is lower than the national average, making it even safer. It stands at 125.72, which adds to the comfort and security of its residents.
Residential Localities
  • Tilakwadi: Renowned for good connection and close proximity to Belagavi and Desur Railway stations, markets, restaurants, and other amenities. The price for a 2BHK apartment here is about ₹50 lakh.
  • Chikodi: A developing area with easy road access. It is near several educational institutions like C.L.E. PU College. A 1200 square feet residential plot could cost around ₹11 lakh.
  • Khanapur, Ramdurg, Honaga: Also recognized among the top localities due to their development and amenities.
Property Prices and Trends
  • Belgaum Fort Area: Property rates have seen a significant rise, with a 67.41% increase last year. The average price per square foot is ₹5,764.
  • General Trends: Belgaum's real estate market is on the upswing. With economic growth, the housing demand is high, making both buying and selling property profitable.
Amenities and Facilities
  • Education: There are various colleges and primary schools, making it a good spot for families.
  • Healthcare: The city features multiple hospitals and healthcare facilities ensuring good livability.
  • Banking: We see well-developed banking sectors with banks like State Bank of India, Canara Bank, and ICICI Bank.
  • Power Supply: Hubballi Electricity Supply Company Limited (HESCOM) ensures a steady power supply in Belgaum.
Rental Options
  • Varied Localities: Rentals are available in places like Tilakwadi, Sadashiv Nagar, Shahapur, and Rani Chennamma Nagar. Prices can range from ₹9,000 for a 1BHK to ₹30,000 for a 3BHK based on location and amenities.
  • No Brokerage Options: Many listed rental properties come directly from owners, eliminating brokerage fees.

PropertyWala's Conclusion

Belgaum offers a great chance for real estate investment. With its robust economy, great infrastructure, low crime rate, and high housing demand, it becomes an ideal location. The mix of residential and commercial development makes Belgaum a stable and potentially profitable market for investments. Given the rising property prices and multiple amenities, now is the perfect time to explore Belgaum's real estate opportunities.