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Hormavu – A Fast Developing Residential Suburb in North Bangalore

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One of the steadily developing suburbs, located to the north of Bangalore is Hormavu. A location that offers large parcels of land, enjoys nearness to IT zones of the city and is well-connected to its neighbourhoods is presently in the process of establishing itself as a promising residential location. With quite a few city-based residential developers in the midst of constructing quality multi-storey and builder Hormavu apartments for sale, investing in one only implies a smart investment move by the buyer.

Though Hormavu is less populated and developed than its neighbourhoods like Banaswadi, Ramamurthy Nagar and Hennur, the development and growth prospects that the region holds makes it a popular region among property developers. According to real estate experts, Hormavu, which is located just 2 kilometres from ORR is superbly connected to the city, with sufficient physical infrastructure facilities in place. Good road network to different localities, railways stations in the vicinity and close proximity to IT zones at ITPL, Nagawara and Whitefield, make it a desired upcoming location in the city.

In addition to the above factors, affordable property rates in Hormavu add as an incentive to investors and prospective buyers. In fact, considering its neighbourhoods like Banaswadi, Hennur Road and Ramamurthy Nagar, where buying a 1000 square ft. apartment can range between Rs. 35 lakh to Rs. 50 lakhs, Hormavu offers a similar-sized  flat for anything between Rs. 31 lakh to Rs. 40 lakh. Presently, the per square feet rate for residential properties in Hormavu vary between Rs. 3,000-Rs. 5,000, aiding buyer decision on investing in flat apartments for sale in Hormavu.

apartments for sale in Hormavu
Image Courtesy: Net

 Witnessing the steady interest for property investment in Hormavu, several city-based builders like Akshaya Developers, Riches Builders and Developers, Sovereign Developers, Vinayaka Group of Companies, etc., have developed their prestigious projects here. Besides these, some well-known developers like Prestige Group and Kolte Patil have also made their presence felt by acquiring acres of land to construct premium multi-storey projects with the best of amenities and specifications. Again, with there being an increasing demand for housing among people working in IT companies, 60% inventory is available in the form of 2 and 3 BHK apartment projects. Immense prospects of price appreciation and expectations of healthy ROI in the coming years, makes home buyers to book for a flat after going through advertised apartments for sale in Hormavu, which indeed sounds like a wise plan.




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