Irrespective of the volatility in the Indian real estate market, Bangalore has accomplished a stable growth in real estate when compared to other metropolitan cities. There has been a great increase in people purchasing homes and investing in real estate in Bangalore.
Here are a few factors that contribute to the growth of the real estate sector in Bangalore,
1. The increase in luxury residential projects sprouting across parts of the city increasingly changes the face of the Bangalore. Residential projects by renowned real estate developers in Bangalore are paving the way for high-end luxury living. This has created a growing demand for villas, penthouses, and apartments amongst NRIs and locals.
2. The boom in the IT industry and the relative job creation has accelerated the rate of people moving to Bangalore from other parts of India and globally, for work. This has increased the demand for real estate developers in Bangalore to offer state-of-the-art residential accommodation for the growing populace.
3. One of the most important factors encouraging real estate growth is the expanding of manufacturing hubs across major districts in Bangalore.
4. The Metro lines that are functional or still to start across various parts of the city have added to the infrastructural strength of the city, resulting in the growth of Bangalore’s realtor market around the areas that are well connected, even adding to the prices of these properties.
5. Bangalore accommodates several reputed and ranked educational institutions across the city. Students move to Bangalore for the further education, which is coupled with ample of job opportunities in IT and other favored industry, leading to a steady demand for apartments in Bangalore.
6. The housing provides a good return on investment especially in the posh localities like Hebbal, Indira Nagar, Hennur, Yelahanka and Whitefield areas. These places have seen the highest demand for luxury residential property and its growth.
7. Infrastructural growth, the mushrooming of malls and places of entertainment and areas of interest around the city has made it a preferred location for buying property. Places that are prime locations in Bangalore have seen a steady rise in top builders in Bangalore competing to create luxury homes with convenience at an arm’s length.
8. The property prices in Bangalore have not reached their peak compared to all major metropolitans. This creates an affordability for people to invest into new and upcoming residential projects by reputed developers in Bangalore.
Bangalore remains the fastest growing metropolises in India. Promising a future with state of the art and infrastructural presence, alongside a multi-cultural population, countless entertainment choices, and a scope for a hearty family life, making it one of the best places to invest across India.