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.
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.