Bangalore is considered to be one of the fast paced cities of India and since the past five years it has become the next stop for real estate investors and brokers. Growth of information technology (IT) sector is believed to be a huge growth driver for the economy of real estate in the country and below are the reasons affecting it-
It is a well known fact that Bangalore is home to the headquarters of many global corporations. Therefore, the need for Luxury homes in Bangalore and premium housing is expected to hit a rise as these types of housings are going to be targeted by the upper middle class and CEOs of such big corporations. Although it’s still too early to predict, but the introduction of the luxury in real estate sector is going to be a beneficial deal for the city.
Talking particularly about the working sector in mainly IT companies, the mid-income real estate sector is also going to be very much in demand. Some of the vital factors responsible for the upliftment for this segment are known to be – social and physical infrastructure, adjacency to main areas, and access to several other basic amenities.
Buyers who are generally price sensitive want to locate into a property that is in their budget and also according to the status. In almost all properties, units are made Affordable housing in Bangalore by reducing their sizes, compromising on civic services and other such factors. Therefore, according to industry experts, it is always better to opt for mid-income properties while making the final choice.
Due to increased price of land acquisitions and constructions in Bangalore, realtors are trying to build more properties that fall under the umbrella of affordable housing. It is because of this reason that a wide section of people plan to buy affordable properties and unless the prices are slashed down, it would be rather difficult to maintain a certain level of economic status.
Unlike many other metropolitan cities, Bangalore too has different areas that are known to fall under the posh localities. Areas such as Whitefield, JP Nagar and Kanakapura Road are being targeted by the developers due to their proximity to other major areas of the city. Presently, the city’s residential market is a stable one and can get a fair amount of value on short-to-medium term investments.
While looking forward to the upcoming projects and developments, Top developers in Bangalore who have a vision to anticipate emerging trends are going to be in for a treat. This phenomenon would prove out to be lucrative in the long run, if not the short one. Apart from that, expert knowledge in this domain will prove to be a vital talent in any real estate broker. As this sector intensifies, investors will find a need to pick specialists who are trained in handling social networks, government relationships and retirement village areas.
With new rules and regulations by the government of India, there is also a fair amount of hope for the real estate sector in the major cities such as Bangalore, Noida, Gurgaon, Chennai, Pune, etc.