Bangaluru is fondly called the Silicon Valley of India, obviously for the right reasons. All the big names of IT industry whether national or international have set base here, as Bangaluru attracts the required talent and offers the right infrastructure. Bangaluru has adopted the multi lingual and cultural tag with ease and élan, which has attracted not only the IT giants but also other multi-national organisations.
The Bangaluru municipal organisations have played up well to the opportunities in the last decade or so. The city has a well-planned infrastructure in terms of roads and metro connectivity. The ring road has been enhanced with the outer ring road, with the expressway to the airport providing a direct connectivity. The highways to Mysore and Hosur and extensive layout and expansion of metro are the main factors enhancing the executive TRP of Bangaluru.
The real estate property in Bangaluru has played-up well and has handled the fast track developments with professional ease. The city has well defined residential and commercial zones, as also hybrid areas for professionals who don’t like to travel. Whitefield, Yelahanka, Banashankari and Sarjapur are the main upcoming residential real estate belts in Bangaluru. Electronic City I & II, Dodabanahalli and Hoskote cater to the hybrid real estate requirements in Bangaluru.
The Real estate in Bangaluru is catering to the future well, with the city radius now expanding to 25 KMs as compared to the previous 15 KMs. The NICE Ring Road provides the required connectivity and infrastructure to the upcoming projects, also the extension of Metro to Electronic City, extends the reachability.
The property prices in Bangaluru sky rocketed in the initial phase about 10 years back, however the prices settled down well before the down trend set in on the real estate sector in India, about 3 years back. This gave the real estate in Bangaluru the lead time to absorb the slowdown without much of turbulence. Though the property prices may not have seen escalation in the past couple of years, but neither have they gone through a downward trend, as is the case with other metropolitan cites in India.
Another huge advantage that Bangaluru real estate sector enjoys is, that it is an “end user” driven market and not a “investors” market. This ensures two things, one that there are no peeked price escalations and secondly the properties get occupied and do not remain vacant, thus adding to the Liveabilty of an area. This in turn ensures that the property prices keep gaining steadily like any other long term investment.
Bangaluru real estate like Mumbai holds a huge potential for redevelopment projects. As Residential property in Bangaluru was the first one to introduce high rises, it has projects which are now 15 to 20 years old and obviously are on prime land. In the next few years we should witness a number of such projects mushrooming in Bangaluru with high price tags.
Bangaluru real estate offers a huge growth potential and it will remain so for the coming years, therefore if you are a real estate enthusiast it is one destination where it makes sense to put in your money.