Due to an increase in post-pandemic demand, property prices in the peripheral areas of Bengaluru have increased significantly.
Story so far: The pandemic has affected how people view housing. According to Ashish Sharma, city head of a real estate business, homebuyers moved to the outlying areas in search of larger homes and a better lifestyle due to work from home and e-schooling. Realtors claim that prices have increased by up to 20% since 2018–19. People are moving out to the periphery since some of the newly planned layouts have wider roadways and better amenities.
- The price of land in Mahadevapura has increased from ₹5,000–Rs 6,000 per square foot in 2018–19 to ₹8,000 at present.
- In Yelahanka, it has gone up from ₹8,000 to ₹11,000.
Work-from-office: Many young people are eager to purchase residences close to their places of employment now that many IT companies have requested staff to return to the office. The demand in Mahadevapura and the neighbouring areas have increased as a result. Realtors claim that during the past six months, there has been a surge in inquiries.