Bengaluru Real estate
Bengaluru, An Metropolitan city Of India previously termed as Bangalore which was officially renamed in 2006, is one of the nation’s economic corridor with a net GDP of $83 Billion placed after Mumbai, Delhi and Kolkata who are in top three positions.
Besides its Trade mark of being the Garden city, it has also been proved major economic zone which has been a result of major Establishment of Educational Institutions in various fields and corporate industries who also added their shares in the present Economic condition of Bengaluru.
Its Geographical position (Average elevation of 900 meter above sea) in Deccan Plateau also is one of the key features for balanced weather conditions.
Above mentioned factors and an its Ever pleasant climate conditions, Well Developed Infrastructure suits for Residential occupancy and Corporate establishment to choose Bengaluru as one of their prime spot of consideration for their Expansion and also the Base to establish.
Key Features of Bengaluru Real estate
Transport which is a major factor in any part of world. Bengaluru with its efficient Construction of many Outer Ring Roads and with introduction of Metro Railway, which provides links to every zone of Bengaluru with in time.
Availability of adequate supply of Power and Water Resources which is always been a prime factor for Infrastructure development of any type organization.
Commercial centers and IT parks, International Multi star Hotels which have either their branches or the Base here are also the major cause for Investments in Real Estate Development and with their rapid growth which are began in the recent past within decade or two.
Cost of living which is also cheaper than any other metro’s be its Mumbai(17%),Delhi(7%),Kolkata(2%), but higher than its neighbor metro Chennai(21%) also drives the major population from other parts to choose Bengaluru for their Investment and as well as their Dwelling place.
A recent research from major Economic forums of India Concludes that there is a 7% raise in price in recent 18 months, whereas sales has decreased its acceleration to loss its velocity in the same year or so. Supply percentage of Budget Home sectors has been raised in past six months with +8%, Values home at 24% and Mid-range reaching 41% being the highest in their class an average apartment would cost 79lakh which would be not in the affordable range of Average Class. Continuing Survey also spreads light on locations, South-East Continues to be the Prime Region with 48% of stock and +23% supply, where as North- East part is still has deficiency of supply against its demand of +32%.
Zone wise development of Bengaluru
Good Infrastructure and wide road with main National high ways passing through this connecting the cities Tumkur, Hyderbad, Pune along with Mangalore, makes it as Bengaluru Future Real estate Belt better for investment. Manyata Tech Park, and Bengaluru International Airport (BIAL)are center of attraction which may drag interest for Investment in Property in the near future, also added you have Lumbini garden, A Family Entertainment park one of the major recreation zone along with some Commercial Malls. Some major areas for Investment are Thannisandra, Hennur Road near Hebbal and Yelahanka..
With the Settlement of major IT parks and some SEZ which has marked an phenomenal contribution for the Development of Property development in this area which has now extended its arms almost towards the border of Tamilnadu, Hosur Road which also has some National High ways and flyovers in this region makes the region a transport friendly and some of the developed and upcoming projects mainly in the form of Residential and commercial plots which are trending in market with huge demand. Some of the Areas which have some good Return values are Kadugodi, Gunjur, Sarjapur Road along with WhiteField and Electronic city which are saturated for Investment in Fields like IT and ITES.
One of the oldest and yet an important Industrial Zone of Bengaluru from past, has always been mainly concentrated by Industries may be of both large public-sectors or some small –scale Industries, The area is surrounded with vacant spaces occupied by Industrial activities and some Warehouses for other.
Volvo construction, Jindal, Bosch ABB limited Himalaya, Parle G are some of the major private sectors established here along with some Government Residential colonies Like HMT Colony ,Air Force camp etc.
Some of the Residential Projects Developed in recent past include from Prestige Group, Sobha developers etc along NH4 one of the Longest Highways of India etc Some of the areas to lookout for Investment would be Hesarghatta, HMT housing colony, Nagasandra, Laggere, Peenya etc.
Stands apart from other zones of the Bengaluru, this heritage center is always been a tourist and devotional centers comprised with important Educational Institutions, Historical monuments and temples, parks makes these places as peace zone of Bengaluru, Unlike other zone which are saturated only in particular type of development this zone has been a perfect blend of both modern and traditional activities. Some of the still existing water bodies and oldest Food Courts which are been still famous for their not compromising with their traditional taste and quality with the existing competence from their new rivals. Predominantly occupied by some native and local people who have made their settlements here from long past Some of the major Belts of real estate developments are Bannerghatta road ,JP nagar, Jayanagar, and places surrounding the Outer ring road. Upcoming mega projects like Prestige Song of South , Prestige Park Square taking shape here.
Bengaluru still and only Zone which in demand for its commercial and Retail values in terms of real estate apart from the Residential requirement .The zone consists of constitutional Home (Vidhan Soudha) and High court of Karnataka State,Cubbon park is always been a major spot for commercial and Retails center which attracts locals as well as Foreign visitor mainly for commercial and leisure’s. The zone which was once the primary cantonments of East India company ,has undergone major influence with the western culture and tradition and still marks their phenomenal remains which have been developed in past by them, Some of the areas like Coxtown, FazerTown, BensonTown are some major Residential market for real estate undoubtedly with value per sq feet is much more than any other zones.MG Road ,Infantry road etc also have major commercial spaces, UB City, Chinnaswamy cricket stadium, Kanteerava Indoor stadium are major sports and Recreation centers .Posted on: June 30, 2015, by : SongofSouth