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Hormavu
Hormavu – A Fast Developing Residential Suburb in North Bangalore
22:26Unknown
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.
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| 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.
