Bengaluru is the capital city of Karnataka. It has a good reputation of having several recognised colleges and research institutes. It is also known as the ‘Silicon Valley of India’ as it is the country’s exporter of IT/ITES product and services. Bengaluru is highly favoured by most of the high tech industries in India. Bengaluru dazzling rise and expansion because of the IT boom has expanded the city beyond boundaries. Bengaluru is powered by the IT/ITES companies which are the major drivers, contributing to the ever growing real estate market. It is one of the fastest growing cities in India.
The silicon valley of India has abundant features, such as hygienic climatic conditions, shopping malls, thriving night life with good restaurants and attractive business opportunities, which make the city attractive for buyers. Bengaluru real estate has attracted buyers and NRI investors as they’ve witnessed appreciation of assets.
Bengaluru real estate is seeing a growing trend in commercial and residential properties; nevertheless, the rising figures are not sufficient to quench the demand of properties in India’s startup city- Bengaluru. That said, it has led to an increase in real estate rates and properties. This has not discouraged the developers and dealers as they are introducing all kinds of projects in commercial and residential to attract all kinds of buyers.
That’s not it.
There are many reasons for the growth of real estate in Bengaluru.
One, the government is coming up with various infrastructure projects to make Bengaluru one of the most sought after cities across the globe.
Two, several investors are of the opinion that the professionalism shown by the property builders in south Bengaluru is far better than the other cities in India. This is motivating for the commercial real estate seekers and residential homebuyers to make an investment without any risk.
Bengaluru offers attractive options for the investors who are looking for a stable market with a long-term horizon. It provides attractive options: residential hubs comprising parks, hospitals, schools, colleges, retail outlets and restaurants. The places to make an investment in real estate of Bengaluru are: North Bengaluru, Sarjapur Road, East Bengaluru, West Bengaluru and BTM layout.
Three, the impact of demonetisation on the real estate sector was marginal in Bengaluru. This means that the real estate sector is always thriving with significant demand. At the time of demonetisation, the property prices in Bengaluru did not witness rapid fluctuations, crash. Moreover, the real estate experts say that the approximately 40 percent of the ongoing projects will be ready to move in by next three-four quarters.
Also, the experts believe that Bengaluru realty market is stable and violent fluctuations have not been witnessed, which could have caused a negative sentiment.
Overall, Bengaluru real estate is a good choice from an investment perspective. The areas such as Mysore Road, Kanakpura Road, City Centre CBD, and Thanisandra are promising investments.