Bangalore and IT sector have become synonymous to each other with top IT companies settling down in Bangalore. It goes without saying that Bangalore is the real IT hub of India. All the IT professionals eye Bangalore with wishful eyes and wait for an opportunity to make to this tech city. Real estate in Bangalore is at cloud nine, thanks to the students, IT professionals and MNCs rushing to Bangalore who have made the real estate market a vibrant one.
Not just education and employment but Bangalore also scores high for settling down after retirement. The pleasant climate of Bangalore prevents the sensitive old age from the lashing heat or cold waves. There are ample of green stretches and water bodies in Bangalore to give it an aesthetic look. Not many would know that Bangalore keeps pace not only with the latest IT developments but also keeps a check on the changing fashion trends. MG Road and Brigade Road showcase the changing styles in fashion. The young IT professionals thus keep abreast with the latest fashionable accessories, clothing and style. The hot-and-happening culture of the city has taken the real estate in Bangalore to new heights.
Real Estate Investment, Bangalore
The revised FDI policies opening new channels for foreign investments in India have made Bangalore a hot favorite for investments. The NRIs and MNCs relocating to the India find Bangalore an ideal option.
Progress of real estate in Bangalore
Bangalore has seen a marked increase in the number of residential, retail and commercial properties. The speedy growth of IT sector has catapulted the population figures in the city. An increase in population has in turn sounded the bugle for greater availability of space for commercial, retail or residential purpose. Facing the bulk demand of affordable properties, the government and private builders are both ready to reduce the deficit. The land for sale in the suburban areas of Bangalore has seen a drastic price revision as compared to the past. The real estate in Bangalore got a real boost when NRIs started investing hefty sums in the real estate sector of the city.
The influx of foreign firms moving to India to establish a base started with Bangalore; the city invited multi-nationals from the IT sector and paved the way for other cities to walk on the same lines. The cosmopolitan culture of Bangalore helped the westerners to adapt quickly to the new environment. Real estate in Bangalore is witnessing both vertical and horizontal growth. The entire city has residential apartments and flats being developed in the available spaces. There are several luxury condos being built with magnificent amenities like pool, spa, Jacuzzi, gymnasium and sports facilities. In addition to the condos, Bangalore has many high profile ultra luxury villas with remote controlled access for household appliances. World-class Malls are dotting the city line and the demand for office space has undergone a tremendous rise.
Real estate in Bangalore has miles to go. Eastern parts of the city, including areas of K.R.Puram, Bannerghetta Road, Kanakpura Road, Marathahalli, J.P.Nagar, Sarjapur and Jayanagar have seen remarkable development in the real estate sector.
The developers are targeting the middle and upper working class and thus focusing on building economical residential options. To meet the exploding demand for real estate in Bangalore, the government as well as the private builders will have to come up with attractive and cost-effective projects.