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Ramanagara, Karnataka Real Estate

Overview of Ramanagara (Now Bengaluru South)

Ramanagara, currently called Bengaluru South, is a district about 50 km from Bengaluru, Karnataka's capital city. Let's look at a thorough evaluation of the city from a real estate viewpoint.

Current Market Trends

  • Price Increases: Residential property values in Ramanagara have climbed 10-15% in the past 3-4 months, especially around Kanakapura Road and Magadi Road.
  • Industrial Land Prices: Bigger parcels of industrial land have boosted by 10% within this timeframe, with certain regions experiencing a jump of 20-50% since the name change proposal.

Key Areas for Investment

  • Kanakapura Road: This area has grown substantially with popular developers such as Puravankara Ltd, Prestige Estates, and Total Environment. Prices are from ₹9,500 - ₹10,000 per square foot here.
  • Magadi Road: Parity with Kanakapura Road, this area has also seen a 4% yearly rise in property prices, with similar rates between ₹9,500 - ₹10,000 per square foot.
  • Harohalli and Channapatna: These spots attract investors, especially those originally from here who now work in Bengaluru and invest in nearby suburbs.

Infrastructure Development

  • Road Connectivity: Improving road connections is key to this area's growth. Many big developers are already getting land along the Ramanagara-Bengaluru route.
  • Water Supply and Public Transport: The focus is switching to better public transport, Metro rail might expand, and water supply improvements will further increase values.

Future Prospects

  • Industrial Growth: Big manufacturing places like Toyota, CocaCola, Bosch mean this area will grow in industry. The new name is likely to draw more businesses and new investments.
  • Residential Boom: As industrial areas grow, the demand for residential homes will surge among the expanding workforce in Bengaluru.
  • Office Spaces: Growing infrastructure will likely boost office spaces, which in turn will energize the real estate market.

Stakeholder Reactions

  • Positive Reception: Real estate and urban planning sectors have mostly embraced this name change. They see it as a smart way to make use of Bengaluru's brand and boost growth.
  • Criticism: Some are concerned that the name change is more than cosmetic and could weaken Ramanagara's cultural identity. They also emphasize the urgent need to solve major infrastructure problems.

Property Rates

  • Average Price: The typical property cost in Ramanagara is around ₹4,065 per square foot, yet prices can change greatly based on location and infrastructure.
  • Year-on-Year Growth: Prices in Ramanagara have grown an amazing 85.94% within the last year, pointing to robust market action.

PropertyWala's Conclusion

For those who wish to buy or lease property in Ramanagara (Bengaluru South), the current trends and future look are both highly promising. The district's renaming aims to attract more interest, aid industrial and residential expansion, and enhance infrastructure. Yet, it’s smart to consider any risks, like managing infrastructure issues and cultural impact. Planning and upgrades in infrastructure could lead to big benefits in the investment sector.