At Rs 24,000 per sq ft UB Towers on Vittal Mallya Road is the most expensive piece of real estate in Bengaluru.
The guidance value of the stretch between Hotel Chandrika and Queen’s Circle on Cunningham Road has touched Rs 24,000 per sqft, with new values coming into effect, Times of India reported.
As per the latest books of the government’s Stamps and Registration Department, Cunningham Road is closely followed by RMV Extension (CV Raman Road), which touched Rs 23,000 per sqft and Sankey Road at Rs 21,000 per sqft.
Properties on either sides of Ballari Road leading to Kempegowda International Airport (KIA) have seen the highest rise following the revision.
The stretch from Cauvery Theatre on Sankey Road right up to the airport has seen a marked increase between 50% and 200%.
According to officials, the rise in property value on Ballari Road was underrated until now, and is emerging as a major commercial stretch with car showrooms, restaurants and condominiums.
However, apartments along Ballari Road, towards the northern end of Jakkur aerodrome, have seen a marginal rise ranging between 10% and 30%, probably factoring in the vast number of apartment units along the stretch, costing between Rs 5 million and Rs 50 million.
The revised guidance value between Mehkri Circle and Hebbal flyover on Ballari Road has increased from Rs 10,000 per sqft to Rs 15,000 per sqft.
Similarly, the stretch between Bagalur Cross and Sadarahalli Gate has increased from Rs 2,200 to Rs 3,500 per sqft.