Investors are always eyeing new and profitable avenues to park their money. But the thumb rule is to be able to rightly distinguish between what’s profitable and what’s not. An area may have all the makings of a profitable locality, but its exorbitant price will have few takers. Proximity to upcoming business hubs, such as Special Economic Zones (SEZ) or IT industries, and smooth connectivity to all the major nerve-centres of a city bring investors to a certain locality.

Bengaluru, the capital of Karnataka, by virtue of being the Silicon Valley of India and favourable temperate throughout the year has been the epicentre of investments for a while now. Based on DataLabs report, PropGuide brings you five up-and-coming localities of Bengaluru.

Hoskote

Despite being located in Bengaluru district, Hoskote is a much-preferred locality. As many as 1,821 projects have been launched in the area in the last six months. Sitting pretty along NH-24, Bengaluru city is just 25km away. The economic hub of Whitefield and the IT Special Economic Zone (SEZ) along with an under-construction industrial warehouse make it an attractive option for IT professionals as well as industrial workforce. The average price of properties in the area is less than other localities with the similar characteristics.

Electronic City

The Electronic City is home to major IT conglomerates, such as Wipro, Tech Mahindra, Hewlett-Packard, Infosys, Genpact, TCS, Siemens, among others. Being developed in a phased manner, it is just 18 km from Bengaluru Central via Hosur Road. As many as 823 projects were launched in the last six months. The average price of the property is Rs 3,800 per sq ft, which has seen a rise of 55 per cent in the last six months. The upcoming Metro rail project will give a fillip to development in the area.

Sarjapur

The USP of Sarjapur is the presence of Wipro campus with around 2,800 employees. Apart from this, the area has good connectivity with Kormangala, Electronic City, and the Outer Ring Road. The plan to set up another Wipro campus in the vicinity has further lifted the investors’ sentiment. The average price is Rs 2,906 per sq ft, which has been rising steadily in the past six months. The upcoming IT campuses and the influx of the IT professionals will spur the demand of residential property in the area.

Kumbalagodu

Pristine Pipe Industries, Afnosh Packaging Industries, Quality Thermopack and Insulation Industries, Sree Padmini Silk Industries, Plasto Poly Chem Industries are some industrial houses dotting the area. The city junction railway station and HAL Airport lie within the radius of 30 km. As per the latest data, 482 properties have been developed in the locality with the average price is Rs 3,717 per sq ft. The price appreciation in the area has been fluctuating between 53.8% and 7.5 per cent for different properties.

Kanakpura

A deadly mix of a business centre and a tourist spot, Kanakpura is an up and coming destination. Its proximity to the IT hub in Electronic City, proposed Metro station and smooth connectivity to other areas of the city give it an edge over other localities. Neighbouring Bannergahtta, staying in the area is a good proposition for nature lovers who will also get to satiate their wanderlust with key attractions like Chunchi Waterfalls, Kallahalli, Muthathi forest, Thayamuddamma Temple, Kabbalamma Temple and Annapurneswari temple in the vicinity. According to the data lab report, 442 properties have been developed with the average price of Rs 3, 917 per sq ft.