by THO
Sudarshan Kapoor has been working in Bengaluru’s IT sector for the last four years. Only last year did he finally decide to invest in a villa near the eastern IT corridor of Whitefield.
“I paid about ₹3.5 crore for a duplex villa project of about 1800 sq ft. This is my first investment in real estate, and I have always wanted to go for a villa project due to the address it provided and the luxury amenities that come with it,” he said.
About a decade ago, villas were a luxury proposition for Bengaluru, and only a few buyers could afford them. However, local brokers say the demand for villas has increased, and several developers are now launching villas in the luxury segment priced between ₹2 crore and ₹5 crore.
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Here’s how the villa housing segment has evolved in Bengaluru
The pandemic opened up the villa option for a broader range of buyers, both in the luxury and affordable segments. Villas have always been marketed as lifestyle products, where the buyer owns the space within the unit and the land on which they are constructed.
“Initially, villas spread across 3000 sq ft and priced at more than ₹10 crore were offered in the market. These spaces used to have their own backyard and terrace space, where buyers can put up luxury amenities like a swimming pool, zen garden, or a bar counter,” Manjesh S Rao, Chief Real Estate Officer at BrokerInBlue, told HT.com.
Today, the range has become affordable. Villas of 1500 to 2000 sq ft that cost between ₹2 and 5 crore are in the market. “The size of the villas has shrunk, and more people can afford them,” he added.
Local brokers said this has led to a surge in demand for villas within the ₹5 crore range, surging by at least 20-25% post-pandemic.
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North and East Bengaluru top in demand for villas
Northern parts of the city, like Hebbal and Hennur, and the outskirts of East Whitefield have become sought-after locations for villas.
In these areas, luxury villas are available for over ₹15,000 and 18,000 per sq ft. Also, affordable villas in the range of ₹8000 and 10,000 sq ft are in demand.
These villas are typically duplex properties with carpet areas between 1,500 and 3,000 sq ft, surrounded by a patch of green.
Affordable land parcels are available in North Bengaluru, and the development of satellite towns, metro lines, and expanded road networks has helped sustain the demand.
Rao added that villas offer potential buyers larger housing space and the additional appeal of exclusive property ownership.
NRIs share in villa investments up
Local brokers say among the major buyers of villas in Bengaluru, NRIs comprise about 20-25%. “The share of NRI buyers has increased from 10% a few years back to almost 25% now. We are transacting several deals with NRIs who have returned to India and are looking for luxury villas upwards of ₹10 crore,” Rao added.
Local brokers add that buyers today prefer to invest in a villa to move into a new place or as a post-retirement plan. “Towards north Bengaluru, we see a majority of buyers from the hospitality and BFSI segment. Meanwhile, towards the east, we see buyers from the IT sector due to its proximity to the IT corridor,” Rao added.
