Besides IT sector the other drivers for positive trend in the Real markets are Auto, exports and few others. The other important drivers have been the investors. Investors are seeing Real estate investments as a lucrative and profitable investment opportunity. Investment in Real estate is not only reliable but the chances of the land depreciating over a time period is very low. Township Development has also fuelled the growth in the Real estate market. Township development which was done in an unorganized way and by small player in the market has now become a good opportunity for big and corporate builders.
Real Estate market in Bengaluru is very mature and transparent. Builders have become more professional which has led to increase in the quality. Higher competition leads to better quality offerings. The healthy competition that is prevailing in the market has also had a positive impact on the overall market.
With a number of online portals related to Real estate buying and selling of properties has also created a virtual market. The virtual market has helped by providing a medium between the sellers and buyers. These portals have an interface for easy navigation and make it easy to search for properties. This has resulted in improved communication, interaction and transparency.
The residential real estate market in Bengaluru is growing rapidly. High property prices the demand for affordable homes is increasing in the city because of the rising budget accommodation needs of the average sections. Also the demand for luxurious homes is increasing because of the high income levels and improved awareness about the luxurious lifestyles among the families and due to increasing foreign investments and change in the lifestyles. Bengaluru is thus witnessing dual phase where the property builders are now beginning with various residential projects like bungalows, flats, apartments, villas and townships to meet both the budget and luxurious requirements. Commercial Real estate is also on high demand as the need for commercial IT offices, IT hubs, IT parks and IT centers is on the rise.
Indian economy is growing at a faster rate. Increase in the spending towards infrastructure development project will ultimately appreciate the Real estate markets in the long run. There is lot of potential and opportunity in the current market.