If one says that, Bangalore is now becoming one of the fastest growing cosmopolitan city in India with all required features then it won’t be wrong. The city is just a perfect blend of contemporary as well traditional values. As per few recent surveys, a tremendous growth in the number of permanent residents has been observed in Bangalore in the last decade. The primary reason for this relocation is outburst of various multinational companies, more career options, world class amenities and better living standard. As a general rule, property price of a locality is decided by demand and supply gap of that particular area. If there is more gap and more demand than supply gap, the prices will go up and vice-versa.
If you are planning to have a permanent address in Bangalore then, here we are presenting few property suggestions which are going to provide an insight of Bangalore’s real estate. Bangalore is nowadays an emerging hotspot for property buyers due to its state of the art infrastructure, world class educational institutes upgrading framework. Some of the most promising residential areas are outer ring road, south Bangalore, Whitefield, BTM layout, Koramangala, HSR Layout, Malleshwaram, Indira Nagar, M.G. Road, Ulsoor, Sarjapur road are some of the most popular locations by developers and buyers both.
One of the most prominent and emerging locations is the northern part of Bangalore, it falls under the close vicinity of the airport and it is a major IT hub also, various IT parks are developing in the area. Apart from that special economic zones such as Karle’s IT Park, Embassy Manyata Tech Park, Aerospace SEZ, Devanhalli, Devanhalli business park are the key factors for the high demand of property in north side.. Areas like Hebbal, Thanisandra, Bellary Road and Jakkur are high in demand due to out bursting IT parks, good connectivity and transport mediums. Yehlanka is next, leading residential spot in Bangalore, which is situated at a distance of approximately 19 km from the International Airport. The Karnataka government has planned to develop Yehlanka as a business hub in coming years that will generate nearly 40 lakh jobs and this makes the place a great long-term investment proposal.
If you are looking for a luxurious property in North Bangalore then RMV extension can be a good option, it is surrounded by many important locations such as Gandhinagar, Mathikere, BEL road and Sanjaynagar. The place is well connected via public buses, rail and road. As per the real estate experts, the locality offers some of the promising residential, commercial as well as NRI residential projects has commenced in the city. Bangalore residents are very sensitive in terms of product quality and amenities and unit sizes as a result, there is high demand of villas and row houses and North city is experiencing mushrooming of villas and luxurious buildings.
Bangalore is experiencing all the attraction when it comes about NRI real estate investment and high-net worth individuals. A gradual shift has been observed in property buying trends, the buyers are shifting more towards sub-urban areas. The flourishing infrastructure, arrival of service industries such as IT, finance, marketing, production and more has provided exposure to the southern part of the city. Several developers are turning up with premium properties in southern Bangalore and especially on Kanakpura Road. The area is high in demand due to construction of Namma metro and 4- lane road. Few other ambitious locations are NICE ring road and Bannerghatta road. So, if you want a luxurious villa or row house in the southern part, then it would cost between 1.5-2 crores. Apart from that, independent houses and residential apartments are also available at affordable prices with world-class amenities. Among the prime residential developers in Southern Bangalore suburb Salarpuria, Greenage, SNN Raj Lakeiew, Purva Highlands and Sobha Forest View are leading.
Eastern Bangalore is identified as the major work centers and hence it is gaining the attraction of the middle class income group. The area is witnessing a number of residential apartments over the past years. Along with IT hub, the area has a good social infrastructure which is in developing stage and hence the demand of luxury residential apartments are rising. In eastern Bangalore plenty of mid-scale projects has been launched such as Brigade Lakefront, Brigade Cosmopolis, Sobha Habitech, UKN Belvista and many more.
Western periphery of Bangalore is still in its early stages of development and is primarily classified as a socially low profile. Though the area has vast availability of land for the future real estate growth. There might be possibilities of high demand of land after the metro boost in the coming future and it is a good prospect for upcoming mid-level projects too.
There are a lot of eminent builders in Bangalore real estate such as HM Constructions, SNN builders, Nambiar Builders, Supertech Micasa, Brigade Group, Vawani Group, Embassy Group, Sattva Group, Total Environment, Nitesh Estates, Adarsh Developers, RMZ Corp, Mantri Developers, Sobha Developers, Purvanakara Group and many more. You can choose the best residential as well as commercial property which suits best with the requirements.
Lots of new projects, commercial buildings, residential apartments, villas, row houses, multiplexes, penthouses etc. are coming up in Silicon Valley. According to a survey, Bangalore is the third largest hub for the High Net Worth Individuals (HNI’s) and in coming 5 years, it is expected to be home to over 10000 individual millionaire dollars. There is high demand of high-end residential apartments and row houses, especially in North Bangalore, ORR, and Whitefield micro-markets.
Mid income section belongs to the service class individuals who are working in IT firms and industries. The major factors while investing in property for them is social and physical infrastructure, proximity to workstations, easy access to basic educational and medical comforts. The ideal location for getting a dream home in your budget would be in southern and eastern Bangalore.
Provident Welworth, Sovereign Lakefront, VHBC Attibele, Patel Neo Town, TATA Housing, Usha Breco Reality, Godrej Propeties, Ashoka Group, Jannaadhar Constructions, Brigade Group, CSC Builders are few of the top builders who are offering best affordable properties in Bangalore at unbeatable prices.
Now once you are deciding to invest your hard-earned money in property, you should always check few factors which are crucial before finalizing the property.
- Well Planned and Connected Transport System: A well planned and a connected transport system is a vital ingredient where density of residents are more. A real time information about a connected transport system with effective execution allows an easy coordination between various transport mediums. You should always check the transport mediums and there frequencies.
- Smart Traffic Management: In metro city traffic is increasing massively day by day, on an average during peak hours it takes double time to reach to the destination (depending upon the location). It could be really very helpful if a traffic monitoring device can be introduced that can predict about the other routes that has less traffic. There might be chances that you have to move at distant places for personal or professional work, so your residential spot should have multiple route options too.
- Adequate Power Supply: Nowadays it is next to impossible to pursue daily tasks without electricity, so in order to become a smarter city 24*7 power supply is a must. Cross-check with the builder about the power supply and there proper connections along with the quality of material used while doing the electrical connections.
- Adequate Water Supply: Getting clean and pure water is an upcoming threat for the metro/big cities. Though if you are living in Bangalore water is not a major crisis yet but the quality and quantity of water is deteriorating with every passing day. So, the healthy and rapid water purification/treatment plants is the next must have prerequisite. Always ask the builders for water purification as well as water resources.
- Proper arrangements for sanitation and solid waste management, waste compost system, energy savings and land management: Solid waste management, sanitation and land management is going to be another major social threat in coming days. Due to increasing population, expanding waste and scarcity of land; waste management an attention seeking problem. Tons of waste are being generated daily and in order to make the environment healthy and clean a smart waste management system is required that should contribute positive in environment. You should check about the waste disposal ways.
- Quick and updated IT solutions: As oxygen, water and food is an inevitable part of human life, similarly the importance of information technology has made its space in our lives. From booking a ticket, paying bills, online shopping, searching houses, selecting best schools and for every daily needs; the internet is a must. A smart city should have sound IT infrastructure and facilities for a smarter and quick connectivity.
- Well-equipped and Easily Accessible Infrastructure: Multispecialty hospital, schools, colleges and supermarkets, transportation: Gone are the days when people use to travel miles in search of quality hospital, school, colleges or markets. In the busy and jam-packed daily schedule it is next to impossible to travel at distant places for better services as it takes lots of time. So invest your money in such a location where all the basic facilities should be available at nearest distance.
- Eco-friendly environment: Environment is something that needs utmost concern. Due to our living patterns and trend, with every passing day we are adding toxic substances and gases to environment. And in turn, we are inhaling that same toxic gases. Choose a property that has proper greenery and a park for your kids to play and rejuvenate.
- Inhabitants Safety: With the increasing number of crime, safety is primary and most important concern for every citizen and especially for children and women. Before selecting the property check for the security systems, what kind of security is provided by the builders and other things.
At one side cities like Delhi/NCR, Mumbai, Kolkata is facing a disinterest in real-estate by the buyers, Bangalore is experiencing the opposite trend. Not only residential, a positive demand in commercial property has also seen. Some of the substantial reasons for the growth are:
Proficient Working Hands: Bangalore is having the highest density of educational institutes that is producing skilled manpower every year. It has industries in all the sectors like engineering, pharma, medical, etc.
Young and Enthusiastic Crowd: The city has a huge number of young and talented population. Due to the presence of a large number of educated crowd various starts in IT and e-commerce sector has been started.
When to Invest:
This is the perfect time to invest in real estate as the demand is increasing every year and which is leading to the increase in property prices. Bangalore is the becoming the service hub for various sectors and maximum MNC’s and industries have their permanent office in the city. This is gaining a lot of job opportunities. Individuals from all the country as well as globe is getting attracted towards the place.
The Bangalore’s real estate market is one of the most stable market which is breaking the monotony of other cities in terms of property sales. In the City Momentum Index (CMI), Bangalore is ranked 12th technology-rich city. With this growth, various established builders and technology institutes are planning to enter in Bangalore and to expand their business.
Vineeta Singh writes for 99acres.com. She has been writing for the real estate developments happening in different parts of India. When she isn’t writing she reads the articles based on photography and travelling.