Bangalore has clocked robust growth rate, over the last few decades. IT has played a pivotal role and is one of the primary reasons for swift real estate development. Bangalore has good educational institutions, social and physical infrastructure. There are promising residential properties in Bangalore: Outer Ring road, Sarjapur road, Whitefield and North Bangalore.
Although, the real estate market in other metropolitan cities have not been upbeat this year, the Bengaluru real estate market has been stable. The Bengaluru real estate market is end-user driven with a stable economic activity propelled by a high percentage of white collar migratory population. Importantly, in the real estate pricing in Bengaluru real estate market has been convincing.
Also, a slew of reforms announced by the government have offered transparency to the economy. In spite, the real estate sector witnessing huge reforms, the international and domestic real estate players are willing to make substantial investments.
Nevertheless, last year the real estate faced few jerks such as GST, RERA and the union budget presented by the government. However, Bengaluru real estate hardly faced any jolts with new reforms. There are several reasons for the cushioning of the impact:
Stability: As compared to the other cities in India, Bengaluru real estate is stable as it is pushed by the end users.
IT investments: Investments from large companies along with the growth of startups leads to white collar workers searching for jobs.
Climate: The pleasant climate and low vulnerability to earthquakes, makes Bangalore an ideal place for retirement of families and individuals.
That’s not it.
Bengaluru provides ultra-luxuries homes to high net worth individuals (HNIs) with great connectivity. There has been a rise in demand and consumption of affordable housing units.
At the same time, Bengaluru is a promising market for luxury apartments in Bangalore for sale in India. For example, villa and row house developments are prominent in North Bengaluru, ORR, Sarjapur Road and Whitefield micro-markets. Residential buyers in Bengaluru are sensitive in terms of product quality.
Also, Bangalore is a prominent market for villa projects in India. For example, villa and row house developments are thriving in North Bengaluru, ORR, Sarjapur road and Whitefield micro-markets.
A certain quarter of the population is price sensitive in real estate requirements, so affordable housing units have been constructed. Economical housing projects are developed in the suburbs, as they offer land parcels at lower acquisition costs. In fact, the areas–Hosur road, Mysore road and Kanakpura have witnessed high demand for this segment.
The property developers such as Brigade group, Golden gate properties, Shriram properties and Nitesh estate are laying attention on this segment. The housing units have been affordable by reduced unit sizes and compromising civic amenities.
Moreover, national players such as Godrej properties, Tata housing, Usha Breco Reality, Ashoka Group, Brigade Group, and Jannaadhar Construction have plans to enter this segment.