January 23, 2015

Emerging Real Estate in Bangalore

The Bangalore real estate is on high with booming real estate price since last decade.  Bangalore is known as “Silicon Valley of India”, as it has now become the home and source for many people around the country in IT field. Many IT based companies have set up their business offices in Bangalore, the reason behind this is due to a huge change in the development not only in IT sector but also in various divisions since few years.

There has been an enormous growth in apartments/flats for sale in Bangalore both in commercial and residential basis. Commercial real estate involves IT hubs, IT parks which are now becoming popular very rapidly and they are now constructed with very innovative and sophisticated way by most reputed builders.  The reason behind the commercial growth is that the most national and multinational IT companies have set their offices here. Many people from all the corners of the country are moving towards Bangalore as there are many IT hubs developed and being developed. Thus growing IT sector is the main reason for most of the people for getting attracted towards the city and a very good source to earn and live.

Residential real estate comes on the other hand. Due to the developed and developing IT sectors people are showing interest in moving towards Bangalore. Due to the increase in IT population in Bangalore the demand in residential real estate has also increased. Some opt for affordable homes because of the rising budget and accommodation needs, whereas some opt for luxurious home due to the increase in income and also because of the influence of international lifestyles. There are many IT professionals, i.e, about 30% of IT professionals around our country are present in Bangalore. What more can be the reason to say that Bangalore now is booming in real estate market?

The other reasons why we can invest in this city are:

  • The climatic conditions in Bangalore. Cool pleasant climate all year around.
  • Increasing foreign property investments.
  • Increasing job opportunities.
  • World’s biggest outsourcing hub.
  • The city includes many industrial hubs.
  • The city also incorporates many schools, colleges; it includes institutions like IISC, Bangalore University, IIMB, IITB.
  • Day by increasing population in the city.
  • Safe place to earn and live.
  • The elevated Mumbai-Bangalore express way.
  • Metro rail phase 1 & phase 2.
The up-coming Metro rail and Mumbai-Bangalore express way will result in large integrated projects around these new developments. Improved connectivity and reduced travel time may encourage people to move to sub-urban. As a result the schools and colleges will be developed around once the residential real estate growth starts in areas around the Metro rail and express way. The areas around these projects will experience a significant growth over next 4-6 years.

Author Bio:

Rajitha is writer who writes articles on real estate market. She has been writing articles on real estate tips and trends going on these days. Currently she is writing articles for an emerging real estate portal in India, PropLadder.com