5 BEST PLACES TO INVEST IN BANGALORE FOR HIGHER RENTAL RETURNS
Bangalore is the Silicon Valley of India and a top-rated residential city. With the booming IT industry and other startups, the employment rate drastically increased in 2022, with an average of 8% resident growth rate in popular localities. Many individuals have fallen in love with the city and see many opportunities here. Most of the migrating millennial workforce search for "house for rent near me" to find the best accommodations in areas like Maithri Layout.
Due to the high demand for homes, many landlords are eyeing properties to purchase in various areas of Bangalore to reap the high rental returns over their capital investment. This article will highlight the best rental localities in Bangalore with a higher rental return than other city areas to allow landlords to make informed decisions.
Best Localities in Bangalore to invest in for higher rental returns:
From North to South and East to West Bangalore, there are many localities with characteristics that make each unique. The following are the most prominent areas that reflect in the search results of "apartments for rent in Whitefield":
Whitefield: As per the statistical data, the Whitefield locality is known to be amongst the Top 3 rental localities in Bangalore and India. The real estate market is booming in this area as property prices have increased in recent years. The locality has a well-established infrastructure, many IT companies like TCS, Mu Sigma, SAP and more, metro and BMTC connectivity, and microbreweries, making it an in-demand locality. The average price per square foot is INR 8,100, with a rental yield of 7.00%. Landlords can reap high rental values by investing in Maithri Layout, Sathya Sai Layout, and other popular localities.
Bellandur: This area swiftly grows in Bangalore, with infrastructural development and other amenities. Many IT firms are nearby, making it a convenient choice for millennials working in the IT sector. The locality is also well-connected by road to other parts of the city. Public transport is also available via BMTC buses. The average cost per square foot is INR 9500. and rental yield is around 7.00%.
Sarjapur: Another popular location in Bangalore that pops up when people type "house for rent near me" or other localities in the city. Like Maithri Layout in Whitefield, localities in Sarjapur are becoming popular investment plots. The area has many infrastructural developments, IT companies and startups, famous microbreweries like Byg Brewski Brewing Company, and hospitals like Columbia Asia. The locality is well-connected to other parts of Bangalore like Silk Board, Electronic City, Marathahalli, and Outer Ring Road. The prices per square foot are at an average of INR 7,850 and the rental yield is around 6.00%.
HSR Layout: The locality is very popular amongst others in Bangalore. Both landlords and potential tenants are looking to invest and rent a home, respectively. The high rental returns in the area are due to infrastructure development, startups and established IT and non-IT companies, popular restaurants, hospitals, and other amenities. The average price per square foot is INR 7,500. and rental yield is around 8.00%.
Electronic City: This location had few residents, while today, the same locality is booming in the real estate market. Many millennials are looking for a home in this area due to employment opportunities in the city. The locality is safe with infrastructure development and many job opportunities in many industries. The average per-square-foot cost is around INR 4850 and the rental yield is around & 7.00%.
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FAQs
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What is the application process like?
The application process is typically like a KYC process to get to know our customers.
What are the common lease terms?
The rental contract is for a standard of 11 months. However, you can choose how long you want to stay.
Can I renew my lease at the end of the term?
Yes, you have the option to renew your rental agreement whenever you wish to.
Is there any Commitment/Lock in period?
Lock in period is a commitment given by the tenants to us in order to avail free common area maintenance charge. Lock-in period should be a minimum of 6 months to avail free common area maintenance charge.
Can you renew or update only the lock in period?
No, once the contract is made you cannot update or change the lock-in period or any other terms.
Are they any hidden charges?
Being fair &transparent is our core value and we inform all our tenants about our terms &conditions in detail prior to the booking. There are no hidden charges or terms.
What is the difference between contract period and lock-in period?
Both aspects operate independently. Contract period is the 11 month legal term under which tenants will rent the flat with KOTS. Renewal of contracts is possible. On the other hand, the lock-in period refers to the duration for which the tenant commits to remain without terminating the contract, enabling them to take advantage of the free common area maintenance charges offered.
What happens if you terminate the contract (or) vacate the home during the Lock-In period ?
The common area maintenance charges offered will be reversed and you will be charged monthly common area maintenance charges for the entire stay duration.
Is there any notice period to terminate the contract?
Yes, the tenants have to serve 45 days notice period before they terminate the contract.
Are there any painting charges or move out charges?
Move out charges include painting charges to be paid (one time) by the Sub-Lessee in advance or in pre-paid manner at the time of booking the flat. If the rented flat is of Studio / 1BHK flat, painting charges are Rs 14,500 (Fourteen thousand five hundred.) and if the rented flat is a 2BHK flat, painting charges are Rs 19,500 (Nineteen thousand five hundred.).
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