Having the privilege of being one of the 3 World Cities of India and named as the Silicon Valley of India, Bangalore is becoming the home to most of the top multinational software companies from around the globe. Bangalore real estate business has also got enhanced on back of the same aspect. Bangalore is today best acknowledged for its industrial and commercial development achieved in the recent years. Based on statistics, 30% of India’s 1 million IT professionals are employed by Bangalore based IT corporations alone. It is for this reason Bangalore real estate properties have developed into the 4th unmatched IT center in the world.
The MG road and the Brigade road imitate the standard of living and the quick adjustment in style and trend with which Bangalore is growing. This is the explanation why it is preferred by the younger age group making it the Fashion Capital of India. Consequently, the property market has hit the highest point in course of the present years. With liberalization, Bangalore which was once considered as a sleepy city is now witnessing a lively industrial growth, the real estate prices and rents have started flourishing. The price varies depending upon the location, construction type, accessibility and many other factors.
Reasons for This Exceptional Growth
Bangalore real estate properties are by and large is the most overvalued than any other. And the real estate division is witnessing admiration fast; purchasing property in Bangalore is worth the idea. Some of the main reasons why for this growth is:
1. The low cost operation base attracts a lot of NRIs to invest in real estate in this city.
2. The increase in demand for international state-of-art office spaces inside the city.
3. Budding economy of the nation.
4. FDI plans of the nation are deemed as the most reasonable and realistic for property investment.
5. Establishment of many multinational corporations, attracting professionals from nook and corner of the country.
6. High level of income of people in the city.
7. Soaring population that the city is encountering.
How to Select the Best Property
Before jumping into any conclusions, you need to consider some things in the property that you are procuring. To help you out, some of them are being listed as follows:
1. Whether it is well connected within or to the city.
2. Whether it is airy and well spaced.
3. Continuous supply of clean ground water.
4. Low maintenance cost, in case of an apartment house.
5. Car parking and lift facility.
6. Have some commercial and industrial structures in close proximity.
7. Located close to hospitals, schools and supermarkets.
Due to a solid demand and limited supply, the major residential areas in central Bangalore persist to command top rental values. The property prices in Bangalore’s neighborhoods like Whitefield, Outer Ring Road (ORR), Sarjapur road, Bannerghatta Road, Hosur Road are sky rocketing. Sarjapur road continues to be the most preferred area due to its connectivity with major industrial locations.