‘From ₹1.8 cr to ₹2.65 cr…’: Viral post on Bangalore’s soaring real estate prices leaves buyers stunned

According to data from real estate portals, the city’s average property prices rose by 15-20% YoY in 2024, outpacing Mumbai and Delhi-NCR. Premium micro-markets such as Sarjapur Road, Whitefield, and North Bangalore saw record demand.

Bangalore’s property market is once again setting off alarm bells among homebuyers — and not for good reasons. A Reddit user’s recent post capturing a 50% surge in apartment prices within just one year has sparked a heated debate online about whether India’s tech capital has entered an unsustainable housing bubble.

In a viral post, the user described how a 3.5 BHK unit at Mahindra Lifespace’s Singasandra project — priced at ₹1.8 crore around October-November 2024 — is now listed at ₹2.65 crore. “That’s nearly a 50% jump in under a year,” the user wrote, adding disbelief that such appreciation occurred despite limited infrastructure and dependence on tanker water.

“I’m not even debating whether it makes sense to spend almost ₹3 crore on a project that’s on a two-lane road and depends entirely on tanker water. What’s blowing my mind is just the rate of price increase,” the user added.

While some attributed the surge to the Yellow Line metro becoming operational, the original poster clarified that the metro was already constructed last year, suggesting the line’s status alone couldn’t justify such steep appreciation.

Why Bangalore’s prices keep climbing
Property analysts say the Reddit user’s shock reflects a broader reality — Bangalore’s housing market has shown relentless growth with no sign of correction.

According to data from real estate portals like Magicbricks and Anarock, the city’s average property prices rose by 15-20% year-on-year (YoY) in 2024, outpacing Mumbai and Delhi-NCR. Premium micro-markets such as Sarjapur Road, Whitefield, and North Bangalore saw record demand from IT professionals, startup founders, and NRIs, all chasing limited supply.

Key drivers behind the surge include:

• Tech sector resilience: Despite global layoffs, Bangalore’s employment base and startup ecosystem continue to attract young, high-income buyers.
• Developer consolidation: Leading developers like Prestige, Sobha, and Brigade dominate new launches, maintaining high pricing power.
• Limited land and infrastructure bottlenecks: Projects near metro lines, Outer Ring Road, and airport corridors are priced aggressively due to scarcity of buildable plots.
• Investor influx: With falling bank deposit rates and volatile stock markets, investors see real estate as a relatively “safe” long-term bet.

No signs of correction
Experts warn that Bangalore’s real estate boom is becoming detached from fundamentals. Yet, unlike markets such as Gurugram or Pune that have seen price stagnation in select pockets, Bangalore’s demand remains steady, driven by end-users rather than speculators.

“Even a modest 2BHK under ₹1 crore is becoming a myth,” said an independent property consultant on Reddit. “People are stretching budgets, taking massive loans, and still booking units within weeks of launch. Developers have no reason to cut prices.”

With rental yields rising, steady migration, and new infrastructure projects like the metro expansion and Peripheral Ring Road boosting connectivity, analysts say the city’s prices may remain on an upward trajectory well into 2025.