Indira Nagar: Most Preferred Property Destination

Indira Nagar is a medium-sized suburb in the eastern part of Bengaluru. It is often referred to as the blue collar locality, as the residents range from being reputed sportsmen, politicians, celebrities and high-class executives, etc. It is considered to be one of the costliest areas to reside in Bengaluru. This place is bounded by Ulsoor in the west, Domlur to the south, Byapanahalli to the south and Vimanapura to the east. The Defense Colony situated in this locality is surrounded by huge bungalows, with lush green tress neatly arranged on both sides of the road. Indira Nagar is divided into 2 stages, of which the 1st stage is the largest. The properties in Indira Nagar are always in demand, as it is considered to be a cosmopolitan locality, with people from all parts of India residing here in harmony with one another.

History

Indira Nagar was initially formed as a BDA (Bengaluru Development Authority) layout in the early 1980s and was named after the former Prime Minister of India, Indira Gandhi. In the inaugural days, this locality was essentially a residential area with huge bungalows and independent houses, which were mostly owned by defense personnel. But with the boom of Information Technology in Bengaluru in the late 1990s, this locality got converted into a semi-commercial area. In the present, Indira Nagar real estate is reaching sky-high and is considered to be an important residential and commercial hub of Bengaluru.

Transport & Connectivity

This locality is very well-connected to many areas of Bengaluru via the BMTC buses and also has a separate bus depot in this locality. The Namma Metro Purple Line which passes through Indira Nagar has two stations within the neighbourhood, namely the Indira Nagar and the Swami Vivekananda Road stations. It is situated at a distance of just 4 km from M.G. Road and about 6 km from Shivaji Nagar Bus Terminus. It is situated at a distance of 10 km from the Majestic Bus Terminal, and is in very close proximity to IT hubs like Electronic City and Whitefield, which in turn has boosted the sale of many residential apartments in Indira Nagar and its surrounding localities.

Localities

Indira Nagar has many sub-localities, like Jeevanbheemanagar, HAL 1st, and 2nd & 3rd stages, Old/New Thippasandra, Kodihalli, 515 Colony, Annayappa Garden, Geetanjali Layout, Defense Colony, Michealpalya, Doopanahalli, Appareddypalya and Mottappanapalya.

Indira Nagar – Mini Bengaluru

Indira Nagar is also known as ‘Mini Bengaluru’, as the locality in itself has many zones like temples, shopping centres, fitness centres, schools and colleges, well-known hospitals, cultural arenas and many more. When compared to other areas of the city, Indira Nagar is among the top-most preferred locations for settling down, and is considered to be the best residential area.

Real Estate Trends

Some of the residential projects in this posh locality include Prestige Glenwood, Pragathi Nisarga, Lake Vihar, Purva Midtown Residences, Prestige Tranquility, Brigade Exotica, Windsor Township, Indus Signature, Sudarshan Ruby, Golden Daffodils, Pride Picassa, Pooja Residency and Trinity Court. The highest locality price of residential multi-storey apartment in Indira Nagar is around Rs. 9070 per square foot and the lowest price is around Rs. 8089 per square foot. The average is around Rs. 8582 per square foot. The return on investment has witnessed an increase of 1% q-o-q in June 2013. The average rental value of a commercial showroom in this locality is around Rs. 102 per square foot. The locality has good connectivity and is in very close proximity to IT hubs, all of which makes it an ideal destination for property purchase and investment.