Summary of Magadi, Ramanagara

Location and Reachability

Magadi is part of the Ramanagara district, now renamed Bengaluru South. It's around 50 km west from Bengaluru city. For those wanting city closeness but suburban comfort, Magadi fits the bill. Road connections, including the highway from Bengaluru to Ramanagara, are better and are getting better with new, wider roads.

Market Moves for Real Estate

• Plans to rename Ramanagara district as Bengaluru South have raised land and property prices significantly in Magadi. Land costs have gone up by 20% to 50% since the proposal.
• In the last 3-4 months, real estate prices went up 10-15%, especially along Magadi Road. Now typical residential property costs ₹9,500 to ₹10,000 per square foot.

Infrastructure Revamp

• Boosting road connections and new gas pipelines are raising property prices and drawing in investors.
• Local Congress reps and MLAs are pushing to bring Namma Metro rail to Magadi, likely enhancing it even more.

Interest in the Area

• There is a big jump in inquiries about land pricing here. It mostly comes from those who work in Bengaluru but are looking to invest in Magadi.

Future Industrial and Residential Growth

• Experts predict strong industrial growth followed by a boom in residential areas. Big developers are buying land near main roads, pointing to big future growth.

Home Prices and Land Rates

• Residential homes such as apartments and standalone houses are pricier. For instance, a small plot of 1,200 square feet once sold for ₹1,050 per square foot now goes for ₹1,250 per square foot.
• Land in Magadi costs ₹2,000 to ₹5,000 per square foot based on developments. If Ramanagara becomes Bengaluru South, these could go up to ₹5,000 to ₹8,000 per square foot.

Views from Stakeholders

• Renaming and these changes have been praised by people in real estate and city planning. The 'Brand Bengaluru' is seen as good for the area's growth and property values.

PropertyWala’s Final Thoughts

Real estate in Magadi within Bengaluru South shines. With new roads, possible metro rail, and the 'Bengaluru' brand, prices will most likely go up. Expect this to be hard for some to afford homes soon. Yet, for many, there's a lot of chance for long-term growth in property value.