Judicial Layout , Kanakapura Road Records the Highest Sale of Apartments in Bangalore Real Estate Market

Bangalore: The Silicon Valley of India is turning into the new real estate hub of the country. For the past few years many Information Technology enabled Services (ITES) and Business Process Outsourcing (BPO) companies have set up offices in Bangalore. This has created an active demand for commercial and residential properties in Bangalore. In the commercial segment of the Bangalore Real Estate, office spaces are the most in demand. This is due to many IT companies either shifting base to Bangalore or expanding their office floor area in the city. The increase in the number of companies is in turn creating a demand for residential spaces and it is encouraging the real estate players, from small to big ones, to come up with various attractive projects.

Real estate in Bangalore has been signified with robust growth and a positive purchasing pattern from customers who intend to purchase plots, flats and villas in and around Bangalore. Across the world, the phenomenon of price growth has a very unique pattern and the same pattern is seen to be followed in Bangalore. Detailed studies by various real estate funds, managements and related research organizations have confirmed this pattern. This pattern means that the real estate prices in the outskirts of a city grow faster than in the inner city or Central Business District (CBD) area. The CBD area would consist largely of BBMP areas in Bangalore.

In terms of residential real estate, the best performing areas are Hebbal, Sahakar Nagar and RT Nagar in North Bangalore. These locations are witnessing the highest demand and appreciation for residential property throughout the year. The improved infrastructure in this region, its proximity to BIAL and overall enhanced connectivity is helping North Bangalore to crystallize into a much sought-after residential destination.

The other emerging destinations are Tumkur Road, Vijayanagar and Magadi Road in West Bangalore which is seeing a stable demand because of the developing Metro line, which will provide enhanced connectivity. One area which has begun seeing the Boom and benefits of Metro connectivity is Kanakapura Road. The establishment of the NICE Road (The Bangalore-Mysore Infrastructure corridor) and the availability of Carvery water in Future are further increasing its importance.

Investments in the IT industry have gone up manifold and salaries and the propensity to spend have increased. With the revision of the FDI policy in the year 2005, investments by NRIs have also fuelled this boom. This has impacted the real estate industry in Bangalore. Bangalore has started figuring on the global real estate map and, as such, the real estate industry has started to change the look and feel of the city. Commercial and retail projects are mushrooming to house IT companies that are expanding facilities in the city. The best-performing areas for commercial real estate are Outer Ring Road (specifically the KR Puram–Marathahalli–Sarjapur Road stretch) and Whitefield. Outer Ring Road, being a predominant IT growth corridor, benefits from the controlled nature of office space supply, which ensures low vacancy levels, healthy absorption rate and rental appreciation. Also, people continue to prefer ORR for its accessibility to employee residential catchments and its connectivity to the various SEZ s and IT parks along the stretch.

Bangalore’s real estate market is looking more positive for buyers and investors than it has been in a while. The real estate success in the city is a symbol of the investor satisfaction. Builders have delivered the projects keeping in mind the needs & demands of the potential buyers. Today, owning a property in Bangalore is sure to yield good returns in the future. Appreciable fact is that even the outskirts of the city is developing at a rapid rate, making the projects a good buy throughout the city. Experts regard Bangalore as a good investment option and there is nothing like investing in the prime locations!

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