What makes the Electronic City residential hotspot?

Electronic City, our very own I.T capital has been a residential investment hotspot for many years now and has witnessed the launch of several 2BHK, 3BHK and ready to buy flats in electronic city. What was initially started as a manufacturing hub has now been converted into an I.T hub housing several multi-national companies like Infosys, Wipro, etc along with several educational institutions, hospitals and shopping malls. All this and several other factors have resulted in a huge demand for residential investment in the area  thus leading to a surge in the development of several projects in Electronic City, phase-2. To know more, read on!

• Connectivity

Electronic City is extremely well connected and the connectivity is constantly upgraded thus making it ideal to invest in projects in electronic city, Phase-2. The area is located on NH-4 connecting Chennai and Bangalore and has an expressway and 6 lane roads as well to increase its accessibility.  The upcoming Silk Board Flyover would reduce the traffic jams in the area and make the commute a lot easier to the residents. This, along with the development of Namma Metro Line 3 will improve connectivity to a huge extent. Additionally, the upcoming Hosur Airport is just 27km away and the opening of the elevated highway to Silk board has made travelling all the more easier.

• High Rate of Return

When, it comes to home buying, Electronic City has the highest demand in the corridor and investors can expect rental returns of 4-5%. Electronic City has the highest demand not just for home buying but for rental as well with a demand of about 46% owing to its proximity to work locations such as Electronic City Phase-1, Infosys and Wipro Campus. 2 BHK apartments are the most preferred for home buying as well as rental followed by 3BHK. Hence it would be wise to invest in a 2BHK or 3BHK flat in electronic City. The area is also one of the few areas to have witnessed a rise in price over the past year.

• Location

It is a known fact that Electronic City is an I.T hub comprising of several multi -national companies. Some of them include Hewlett Packard, Siemens, Infosys, and Wipro, etc thus offering various career growth opportunities for working professionals. This is a major reason behind the demand in the projects in electronic city, phase-2.

• Infrastructure

The area is ideal for people of all age groups as it is not just near to the I.T companies but also to educational institutions, hospitals and shopping malls thus leading to an exponential growth in demand for the projects in electronic city be it a 2BHK or a 3BHK flat in electronic city.

To conclude, Electronic City has been a haven for residential investment and continues to see an increase in demand due to its ever increasing connectivity, it being an I.T hub and various other factors discussed above. The apartment prices are also comparatively lower and reports show that it is the only corridor that has seen a growth in returns. If you are planning to invest in a project in Electronic City, book a visit to Mahendra Aarna which is definitely one of it’s kind.

There are a zillion factors to consider before investing in an area, be it an apartment in electronic city or anywhere else. One of those factors is rental market value  which is extremely important especially when you have plans of renting out the place. In today’s age, it is essential that you look out for areas where a lot of MNC’s are coming up as this is where the government would be focussing on developing the infrastructure to drive investment from international conglomerates. Electronic City is one area where people belonging to different income groups can find a home suited to their budget. The rental yield varies between 3.3 to 6.8 percent averaging at 3.8%. In 2017, the rental return for a 2BHK flat was 4-5%. Approximately 57% of 2BHK flats are available for rent in Electronic City followed by a 30% of 3 BHK flats.

The good thing about the area is the abundance of I.T companies which is a major source of employment thus making tenants readily available for your property. The upcoming yellow line of Namma Metro is further going to increase your rental yield.