New Delhi, 22 Mar

Bengaluru's two key micro-markets -- Thanisandra Main Road and Sarjapur Road -- have witnessed 67 per cent and 63 per cent growth, respectively, in housing prices in the last three years, according to Anarock.

Real estate consultant Anarock's data showed that average housing prices at Sarjapur Road rose 63 per cent to Rs 9,850 per square feet at the end of 2024 from Rs 6,050 per square feet at 2021-end.

Thanisandra Main Road witnessed a 67 per cent growth to Rs 8,900 per square feet from Rs 5,345 per square feet.

The average monthly rental rose 76 per cent in Sarjapur Road to Rs 36,900 from Rs 21,000.

In Thanisandra Main Road, the average monthly rental growth went up 62 per cent to Rs 33,200 from Rs 20,500.

Commenting on the trend, Angad Bedi, CMD of BCD Group, said Thanisandra Main Road and Sarjapur Road in Bengaluru exemplify the changing pattern of the real estate sector.

"Renting provides financial convenience in the short run. Nevertheless, for long-term benefits, property ownership provides greater financial security and future dividends. Thus, savvy buyers consider real estate as an investment that goes beyond immediate convenience," Bedi said.

Property First founder and CEO Bhavesh Kothari said, "It seems to be a bull run for the residential real estate sector where an increasing number of individuals are moving towards home ownership for primary use or rental income considering the robust growth being witnessed in both. The rapid growth in capital and rental values is a factor of the growing importance of micro-markets in top cities as a commercial and residential hub, attracting significant attention from retail investors".

This shift also mirrors the larger trend unfolding in the residential real estate sector where property prices are rising rapidly on account of growth in land rates, construction costs and high demand, he added.