Central Bangalore has been an elite neighborhood since a long time now. Frazer Town, one of the most popular areas with the high-end property buyers in Bangalore is witnessing an increased demand for luxurious and high budgeted flats and apartments. Several leading real estate consultants and property dealers in the city are reporting increased demand to consider Frazer Town for residential space.
According to an Inside Report by 99acres, the Frazer Town area witnessed a record growth of over 5% in capital and rental values, during the period from October to December 2016. According to real estate dealers in the city the increase has resulted in the launch of several types of gated and independent housing units in the region, especially in the last 6 years due to which there is huge demand to buy property in Frazer Town.
Central Bangalore has a wide range of expensively priced opulent housing units. The area offers a large choice for the elite buyer in terms of the opulent lifestyle often sought by the wealthy when moving to Bangalore. The localities of Rajaji Nagar, Indiranagar and Jayanagar are also popular in Central Bangalore zone however the real estate developers and builders have largely seen a demand from prospective new buyers to buy flat in Bangalore’s central area, in Frazer Town region.
The current land rates in the Frazer Town area hover between INR 4,000 to a whopping INR 16,000 per sq ft, making it one of the premium and choicest luxury localities in the city. Started in 1906 as part of the expansion plan for the Bangalore Civil and Military Station, Frazer Town (officially called ‘Pulakeshinagar’) is currently one of the top high-end real estate markets in Bangalore.
Factors That Make Frazer Town a Top Choice For Luxury Flat Buyers in Bangalore
Ideal Location
Frazer Town is in close proximity to other popular localities, including MG Road, Commercial Street and Infantry Road. Apart from this, the presence of the Outer Ring Road (ORR) provides efficient road connectivity with the rest of the city. The other major roads, including Madhavraya Mudaliar Road (MM Road), Promenade Road, Spencer Road, Haines Road, Wheeler Road, Netaji Road and Mosque Road provide excellent connectivity.
Efficient Price
Even though Frazer Town is considered to be one of the most posh and luxurious neighborhoods, as compared to other well-established and old areas in the city, it remains a significantly affordable option for luxury home seekers. The average land rate of Frazer Town is around INR 8,400 per sq ft, as compared to neighboring localities, such as Richmond Town which has an average land rate of around INR 10,000 per sq ft. The Frazer Town area also has extensive offers for people looking to rent luxury apartments in central Bangalore.
Efficient Price
Even though Frazer Town is considered to be one of the most posh and luxurious neighborhoods, as compared to other well-established and old areas in the city, it remains a significantly affordable option for luxury home seekers. The average land rate of Frazer Town is around INR 8,400 per sq ft, as compared to neighboring localities, such as Richmond Town which has an average land rate of around INR 10,000 per sq ft. The Frazer Town area also has extensive offers for people looking to rent luxury apartments in central Bangalore.
Ideally, tenants can rent a 2BHK flat in Frazer Town for a price of around INR 22 per sq ft, which averages to around INR 25,000 to INR 28,000 per month.
These and other such factors have helped to boost the popularity and demand for residential property in Bangalore in recent years.
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