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 "house for rent near me":
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 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 rental yield is around & 7.00%.