North Bangalore, growing primarily on account of proximity to the International airport in Devanahalli sees continuous demand for multi-storey apartments. The growing number of IT working professionals in the neighbourhood is the main reason for this demand. A recent trend is that 1BHK apartments have gained importance in localities closer to the Devanahalli airport.    

North Bangalore has witnessed a rise in the demand for 1BHK apartments in the April-June quarter compared to the previous quarter, a portal's data highlights. Main benefitors of this rising demand are localities such as KR Puram, Nagwar and Thanisandra, among others. Realtors believe that these localities will now witness builders focussed on offering 1BHK apartments too.    

The demand for 1BHK apartments has gone up to 21 per cent in the Apr-Jun 2012 quarter. In the Jan-Mar quarter, the demand for 1BHK apartments was at 5 per cent. However, availability continues to be in the range of 2-3 per cent in both quarters, highlighting that there is a gap between the demand and supply ratio.    

Munawar Pasha of Prime Properties said that the increasing number of IT companies such as Wipro & Infosys just before the international airport and Manyata Tech Park in Hebbal are hiring IT professionals from across the country. These people moving to Bangalore are increasingly looking to buy 1BHK apartments as their family size is small, Pasha said.    

Vijay Singh of Mahaveer Enterprises pointed out that the localities enjoying proximity to the International Airport were the major gainers this quarter. These include K R Puram, Nagwar and Thanisandra that saw a rise of 18, 13 and 17 per cent in the Apr-Jun quarter. Areas closer to Airport despite falling in the last stretch of ORR are benefiting on account of IT companies setting up base nearby, affordable property options and latest projects by reputed developers, he said.    

However, at the same time, compared to other metros, the overall demand for 1BHK apartments in Bangalore is much lower.    

According to The Confederation of Real Estate Developers’ Associations of India (CREDAI), the average Bangalorean is used to more space than a Delhite or Mumbai buyer. A 2BHK apartment in Bangalore, even in the economy segment is around Rs 1,300 to 1,400 sq ft range, which is within the range of buyers.    

Some of the developers in this part of Bangalore include Preeti Developers, Akshaya Developers, Columbia Developers, Millennia Ventures & Projects India Pvt Ltd, among others.    

Demand for commercial properties is also good in this area from ITPL to KR Puram. Secondly, this is also a developed area and is serviced with Kaveri water facility and has all the social infrastructure in place such as schools, malls, local shopping complexes and has three big retail malls.