The property sector in India has been growing at a snail pace over the past few years and has shown a sluggish growth. But the experts believe that the market will turn around and will give hefty returns to the investors. I believe that the announcement of the Smart Cities will definitely put a positive impact on the real estate arena and it will gain pace in the years to come. There are several real estate pockets which are spread across the length and breadth of the country and these markets will grow manifold in the future. I am counting heavily on the city of Bangalore and I believe the city is new and next investment Mecca in India, where you can invest your hard earned money and can expect a quick and steady return.
I have listed few factors which are complimenting the surge of the real estate market in Bangalore. The pocket friendly property pricing, maximum demand in the market, wide array of options has actually upped the ante in the different markets present within the city. There are a plethora of markets, which I believe are quite promising and an excellent cradle of investment. Areas like Whitefield, Panathur, Begur Road, Kanakpura Road are some of the booming property markets in Bangalore.
IT boom, a major driver:
The IT boom in the city has changed the entire market scene and has fuelled the growth the properties in and around the city of Bangalore. People from around the nation pour into the city which is actually spiking the demand of properties in the market.
I have witnessed a massive evolution in the property market of Bangalore and which is equally complimented by the massive infrastructural development rolled out by the government. Proper roads, a robust communication system within the city, 24×7 electric and water supply has helped the city become the dream destination for many investors.
Gamut of properties available:
The city is thriving with a multilingual and multicultural population. Most of them are well travelled and well educated, which is keeping the investment flow intact and giving the property market the much needed life blood to survive. The demand is high, but at the same time the supply is also maximized. You can choose from the large bucket of properties which are available in the market and they are completely tailor depending on your budget and taste.
The market caters to a variety of consumers. Apart from facilitating your need with budget friendly properties the city market can provide some of the most coveted properties to you. The northern part of the city is populated with some of the most luxurious villas, so if you are eager to invest then you always have the options in hand. If you are an NRI then this is the market where you can get the best return on your money.
Housing for IT professionals:
If you are an IT professional and worried about your new job in Bangalore, then just sit back and relax, as this city offers a variety of choices for you. Mid –level properties are available for you in the areas like Whitefield, the ORR IT corridor, Electronic City where you can easily get all possible facilities for your family.
For price sensitive buyers:
If you are hunting for a budget property and thinking that Bangalore is not your option then you are completely wrong. The areas around Hosur Road, Kanakapura Road, Mysore Road can give you some of the most affordable and pocket friendly properties.
Experts to help:
If you re new to this segment and searching for a guidance before investing in the Bangalore market then just keep your worries aside. Because Bangalore is the hub of some of the most well known property experts and agents and they can easily guide through the dark alleys of the property market. Seek their help and ensure a healthy and investment for your future.
Promising demand scenario:
If you are an investor and want to invest in the market these statistics will surely give you goosebumps. The market saw a steady hike in the property absorption. Approximately, 6519 units have been sucked in 2Q13.
A vibrant property market:
The property market is extremely promising as it has registered a steady and growth in the past few years. New areas are constantly developing with the help of government which is also a very positive sign for the entire market. The upcoming SEZ and IT parks in north Bangalore are some of the new emerging market for investment.
The retirement capital:
If you have just retired and now you want to spend your savings over a good property deal, then Bangalore has it all for you. The outskirts of the city are steadily developing and it is the best place for those who wants to enjoy nature and solitude. Areas like Atibele, Sarjapur and Mysore road is the core of some of the most tailor made properties. The area is well connected and geared with good medical facilities.