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.
From my previous blogs I think all my readers have well understood that I am an ardent fan of Bangalore. I am just in love with this city because it has all the ingredients of a perfect home. The city of Bangalore is well established and it is well populated with a gamut of properties and has the ability and scope to grow. If you are an IT professional or a honcho of a multinational brand, then this is the best place to invest. Invest in peace and prosperity and frame a better and brighter future for your loved ones. In this blog, I will discuss about those small things which often as a first time buyer you miss. So keep these tips handy and own your future.
There is no tomorrow
Remember, there is no perfect time to buy a property. So be prompt and buy the property of your choice in Bangalore. If you think that you will wait for the right moment and will fetch the benefits of global recession then you are absolutely wrong. Because the Bangalore market is on a high and the recession will never cork the price rise. So if you have money, then buy it, because there is no tomorrow in real estate market.
Pic Credit : Shobha Developers
Never depend on banks:
Keep your budget in hand. Never depend completely on the loan as you have to shell out twenty percent of the total cost of the property from your own pocket. The rest 85-90 percent will be loaned from the bank which will also depend on your monthly net salary.
Choose at your convenience
Choose the property which is most suitable for you and will help you in future. As the city is evolving pretty fast, so you must do a proper scan of the area where you want to invest. Talk to friends and your acquaintances and then take the final call.
Choose and pick:
It is quite a daunting task for first time buyers like you and me to choose from the massive milieu of builders who are camping in the city of Bangalore. So do your own researches before selecting the builder. There are several autonomous bodies and banks which provides authentications. Before buying your property, you must verify and check whether your future is authenticated and certified by these bodies. If yes, then go for it. These properties might cost you a little more, but they are full proof and safe, that’s for sure.
Apart from the above mentioned points you must also discuss about the maintenance cost which is also a recurring expense which will hang on your shoulder throughout your life, so be sure. So know the expenses in advance. Also check whether the builder is charging the rates on the basis of the carpet area. You must pay for those things, which you will actually use in future. So be sure before investing and you must keep your emotions aside before pinpointing on the property you want to acquire.
The real estate market of Bangalore is on a boom and it has shown considerable progress in the last few years. Experts believe that other real estate markets within the country are moving at a snail pace, but the builders in Bangalore are fetching good profits from the market. Being a passionate observer of the real estate market of India, I tried to dig out the factors which actually influenced the uninterrupted growth of the real estate scene of Bangalore.
Ride the growth:
The growth is uninterrupted in Bangalore. Apart from the IT sector, several other industries are also evolving at a steady pace within the city which is complementing the all round development of the real estate sector of Bangalore. The market is swollen with several big brands. The areas like Peenya, Bommasandra &Malleswara are crowded with several industries. The IT industry is growing at a steady pace in areas like, Hebbal and Marathahalli. A robust growth in the industry is actually fuelling the growth of the real estate in the city.
Pic Credit: www.vaswanigroup.com
Communication holds the key:
Good communication is another key factor which has influenced the real estate canvas of the city. The metro connectivity across the city has made communication easy and fast. The property prices around the vicinity of the metro stations skyrocketed within a very short span of time. The communication boost has spiked the growth of the IT industry in the city and wooed many investors and buyers in the last few years.
Bangalore is a global village. It is not only the home of some of the most coveted brands of the world. It is also the new destination for several global citizens who are pouring into the city from around the globe to earn their bread and butter. The city today offers a plethora of projects to the buyers. There are multiple choices in front of the buyers which I believe is another key factor which is facilitating the blistering growth of the real estate market of Bangalore. Some of the best known architects and builders are camping in the city and they are designing some of the state of the art properties which are ushering NRIs and other high profile buyers in the city. Whitefield, Hennur are some of the areas which tops the list of the overseas buyers.
Be at home:
I believe the city is a perfect place to live. The pleasant weather, ample options and a gamut of facilities are lined up for a buyer. The city today is not only a destination for job hunters, but the city is also the home of some of the most prestigious educational institutes which attract several students from across the globe every year. This also pumps in the life blood into the real estate market of Bangalore. There is a steady demand of apartments in Electronic city, ORR Corridor and in the North of Bangalore.
The city has maintained its demand amongst the buyers and it has evolved considerably with time. The multi-ethnic population, vibrant culture, good communication has kept the real estate market of the city alive and ticking even in the worst possible phase. Areas such as, Indira Nagar, Narasapura, Hennur, Whitefield has shown massive appreciation in property prices in the last few years.
Once known as the retirement capital of India, Bangalore today is one of the fastest growing realty markets of India. In the 90’s, the city was crowned as the IT hub of India and it gained prominence by passing time. It soon became the cradle of some of the most coveted realtors of India. Several international builders also started thronging the city’s realty market in the recent past. The property prices have skyrocketed in the recent past and it is growing at a steady pace and setting serious future goals for its contenders.
Being a buyer, I have always felt very confused and irked while buying a new property in a massive realty market like Bangalore. Heap of information often confuses buyers and consumers like you and me. So in his blog, I have tried my best to pick up some of the most coveted property spots in Bangalore which are high in demand.
Old is gold:
If you are hunting for a beautiful and old locale where you want to stay in peace with your family, then search, your future home in one of the oldest areas of Bangalore and that is Malleswaram. This bustling locality of Bangalore is developed under a green canopy of trees and surrounded by several beautiful parks. The area is crowded with several temples, educational institutions and associations which I believe will fulfil all your daily needs.
Pic Credit: embassypristine.com
Ditch the crowd:
You want to ditch the din and bustle of Bangalore and want to live a peaceful life away from the city then your search must take a halt at Hebbal. The right choice for peace loving citizens like you and me. The place is extremely well connected and geared all modern facilities required in our daily lives.
Enjoy the vibe:
If you want to enjoy the true spirit of Bangalore then opt for Indiranagar. This is one of the most happening places in Bangalore and it has all that one social animal like us can crib for. This is the epitome of true Bangalore and counted amongst the most coveted locations of Bangalore.
Touch of Tech:
If are an IT professional and you don’t want to waste time in crawling traffic of the city of Bangalore, then book your flat in Marathahalli. This place is well connected with all the IT pockets of Bangalore.
One of the most populated places of Bangalore is Koramangala. Here you can easily find a house well within your budget and this area is extremely well connected. The area has a mixed population and it is growing at a very fast pace.
Close to heart:
Apart from these there are some of the other places which I would also like to mention in my blog and they are Jayanagar, Basavanagudi, these are parts of old Bangalore which are again extremely well connected and counted amongst the best localities of the city.
Live in the past:
Ulsoor is a place which is populated with a slew of tourist attractions and architecture. The famous Ulsoor lake is also located in this area. The property rates are well within your budget.
Live like a king:
If you want to live the life of a king and money is not your headache, then check into some of the most well constructed villas and apartments spread across Whitefield. Get the top honchos as your neighbours and enjoy life to the fullest
The property market of Bangalore is one of the most promising markets of India. In my previous blogs I have discussed at length about the future and the present market scenario. The market is evolving and growing at a tremendous pace. Several realtors, consumers are queuing up from different parts of the globe to get their share of pie from this Mecca of real estate.
As a buyer, I believe that we should not only check the minute details of the property and also the keep the most important factor in mind which often gets lost under the heap of papers and that is the maintenance of the property. The maintenance of the property which you are buying is a recurring cost which you have to shoulder all throughout your life. It is that one sticking point that will always bother you and will topple your monthly budget.
A plethora of maintenance charges which are dovetailed with the actual cost of the property. If you are planning to live in a posh, suave, apartment in the heart of Bangalore then be ready to bear the brunt. You have to shell out money for all possible utilities such as plumbing, gardening, repairs, security and many more. In a city like Bangalore you will be charged on the amount of water you are using every day. Apart from this your expenses will soar with the additional charges which you have to pay for the painting of the flat so try to go for that painting drive collectively. To cork the shooting power prices you can also opt for solar power which will surely help you to reduce the price. Renting out some of the empty spaces around the property will also help you to collect some amount of money at the end of the month.
Pic Credit : www.propertyscam.in
The realtors are luring the buyers with several eye candy offers, which also have a massive hidden maintenance cost which you and I as a buyer have to carry forward in the future. So he cautious and understand and read between the lines and then invest in a property. Bangalore as a city comes under the threat of floods every year, so being a buyer, you must do a proper survey of the area, because if the area is flood prone then you must keep a proper budget in hand to deal with the monsoon woes.
Do a proper background check of the realtor which will also help you to understand the nature of the property he is building. If he is not known for his good work, then never jump into an agreement. Because you will have to face the fallout of the bad work though out your life.
Create a fund for proper maintenance before buying a property must ask and understand that whether the society has any such provision which will help you minimize your expenses and at the end of the year there should be a proper audit of the entire maintenance cost. The entire job must be handled by a professional agency which will further reduce your headache.
As a buyer, we must keep these small things in mind, which will surely help us to control our soaring future maintenance budget.