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HSR Layout: The most preferred Site in Bangalore

HSR Layout has been one of the most preferred destinations among the state owned housing properties. It has been ranked the most costly area in Bangalore in 2013.

The above talked fact has been derived from the reports of the yearlong BDA (Bangalore Development Authority) auction ended on December 31- January 1, 2014. The bygone auction in 2013 marked a massive transaction of about Rupees. 410 crore.

TGS Layouts - HSR Sites

As per the report a site in HSR goes up to as high as Rupees 17,000 per square foot. This massive hike of per square price in HSR area is due to the advantage of this area rendering better connectivity to the IT passageway.

A senior BDA official told Bangalore Mirror that the sector 3 of the HSR Layout has been the costliest site this year. The area serves better connectivity to the IT Corridors makes it one of the most sought after areas in Bangalore. A lot of IT crowd is moving towards these areas making it one of the preferred residential niches for the IT professionals. The highest price quoted in the previous year war nearly Rupees 1,90,800 per square meter.

The emerging areas like Koramanagla, East of NGEF, Banaswadi and Janabharati layouts are seeking preference besides HSR. As per the data out of 387 sites, all other remaining sites in HSR 3rd Sector were sold for the highest price and the costliest among them recorded in July was about Rupees 17,725 per square foot. The second costliest site sold was about Rupees 16,350 per square foot. These details are as per the auction of 2013 held on December 31.

The restriction on the auction process resulted in the low prices. This restriction was not only limited to those living in Bangalore but also those living in closer sites.

The E-auction change the entire game providing an edge of comfort as those sitting in any corner can actively participate in the auction process.

Nearly a three time price hike was recorded. Except for the alternative site no allotment was provided in the year 2013. The area HSR sector 3 enjoys monopolist preference being closer to the IT sector. The better connectivity advantage makes it an area with preferred choice and heavy acceptance of investments.

A confirmation from the finance department of the BDA makes it clearer that the site in HSR layout has been the grosser in the 2013. The department further retained from disclosing any details on this topic. B Ganganna a finance member concluded that the auction achieved a remarkable percentage of result in 2013.

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