Located in Central Bangalore, Frazer Town is one of the premium residential hubs in the city which offers heap of housing options for the HNIs who prefers uber-luxury lifestyle. Some of the other residential areas which suit the housing needs of elite class include Rajaji Nagar, Indiranagar and Jayanagar.
In recent times, Frazer Town has been witnessing a remarkable growth in the real estate market. According to a realty report, Frazer Town has seen a 5% increase in terms of capital values and rental values during the last quarter of 2016. Over the past few years, the locality has witnessed huge residential developments. Especially, the locality has a large number of independent and gated community projects. The home buyers who look for luxury apartments in Bangalore prefer this region. Owing to increase in housing demand, land prices in Frazer Town are heading towards INR 16,000 per sqft from INR 4,000 per sqft, say the realty experts.
Although the property prices are high in this locality, the demand for housing has been high here. Following are some of the key stimulators contributing to the locality’s property market;
Strategic Location: Located close to some of the major stretches such as MG Road, Infantry Road and Commercial Street, the locality enjoys seamless connectivity. Apart from it, accessibility to the Outer Ring Road is also playing a pivotal role in boosting the region’s realty market. Some of the important roads in this locality include Promenade Road, Haines Road, Spencer Road, Madhavraya Mudaliar Road (MM Road), Mosque Road and Wheeler Road.
Price Competiveness: When compared to other posh areas in Bangalore, the locality offers pocket-friendly options for the end-users and investors. The current prices of apartments here stand at INR 8,400 per sqft. On the other hand, price of 2 bhk property in a similar locality like Richmond Town would cost around INR 10,000. When it comes to rental homes, a home seeker can find a home for rent at INR 22 per sqft which is about INR 25,000 to INR 28,000 per month for a 2 bhk apartment. In contrast, you will have to spend a rental cost of INR 40,000 to INR 50,000 per month to find a similar property in Richmond Town.
Proximity to employment hubs: With the presence of several industries and Information Technology companies in the vicinity, the locality witnesses a huge housing demand from the HNIs and entrepreneurs. Besides, the locality’s close proximity to employment hubs such as Manyata Tech Park, Indiranagar, Bagmane Tech Park and other commercial business districts has grasped the attention of mid and high-income working professionals to settle here.
Social Infrastructure: The locality boasts with good social infrastructure in terms of educational institutes, healthcare centers, retail outlets and more.