Is Investing in Real Estate near Prestige Shantiniketan Mall worth it?
Are you considering investing in real estate near Prestige Shantiniketan Mall, Whitefield? This area is growing fast and seems like a good place to invest your money. But is it truly worth your investment? Let's delve into this.
Key Takeaways:
- Whitefield is a rapidly developing area.
- Overview of Prestige Shantiniketan Mall
- Investing in real estate near the mall has its advantages.
- Understanding the market trends is crucial before making a decision.
Growth and Development in Whitefield
Whitefield is a happening place for real estate. It's grown a lot in the last ten years. Many tech companies are close by on Outer Ring Road. Whitefield also has hospitals, schools, and places to shop and play. Getting around is easy with trains, buses, and even a Metro The Metro line runs from Challaghata to Whitefield and connects to other parts of the city. There are also main roads like Whitefield Road and Varthur Road that connect to a big highway.
Overview of Prestige Shantiniketan Mall
The Prestige Shantiniketan Mall has it all: art, theater, technology, and more. With fashion stores, restaurants, a movie theater, and even a microbrewery, there's something for everyone. Families will love the activities for both kids and adults. And with frequent live events, it's always buzzing with excitement in Whitefield.
Pros of Investing in Real Estate near Prestige Shantiniketan Mall
Investing in real estate near Prestige Shantiniketan Mall offers several advantages for savvy investors.
High Rental Yields:
- Properties in proximity to popular malls tend to command higher rental incomes.
- The steady flow of foot traffic ensures a consistent demand for commercial and residential spaces.
- Investors can benefit from attractive rental yields, especially in commercial properties.
Real Estate Market Analysis
Whitefield has become a popular area for investment, especially in real estate. It's close to big IT centers and has lots of shops and entertainment. People looking for homes in Bangalore often choose Whitefield because it has everything from simple flats to premium apartments. Due to the IT sector boom in the locality, Whitefield has turned into a thriving suburb of Bangalore. Many giants have their headquarters here which converted it into a demanding residential hub for people looking for property in Bangalore. Property prices here have gone up by about 28% in the last year, averaging around Rs 7,100 per square foot.
The average price of rental flats in Whitefield.
Number of Bedrooms Average Rent (INR)
1BHK ₹12,200 - ₹30,000
2 BHK ₹20,000 - ₹54,000
3 BHK ₹68,000
4 BHK and above Up to ₹3.9 Lac
Conclusion
Investing in real estate near Prestige Shantiniketan Mall, Whitefield is a good idea because you can make money from renting out the property. It's important to check everything carefully before investing, like how much rent you can get and how the area is growing. Getting advice from experts can help you make the best choice.
FAQS
Q. What are the average property prices near Prestige Shantiniketan Mall?
A.The average property prices near Prestige Shantiniketan Mall vary depending on factors such as location, size, and amenities. According to recent market data, residential properties in the vicinity range from Rs. 5,000 to Rs. 10,000 per square foot, while commercial spaces command higher rates.
Q. How is the rental demand for properties in this area?
A. Lots of people want to rent properties near Prestige Shantiniketan Mall because it's in a good spot and has lots of cool stuff nearby. People who work in nearby offices often rent homes there, and businesses benefit from all the people coming to the mall.
Q. Are there any upcoming commercial developments that could affect property values?
A.New commercial projects are coming up in Whitefield that could affect property values near Prestige Shantiniketan Mall. These new offices, shops, and entertainment spots will make the area even more attractive and increase demand for property.
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FAQs
View all FAQs
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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