The Silicon Valley of India is rapidly turning into the top nesting destination for professionals and expats from round the world. Bangalore ranks first among all real-estate markets in India to register a positive growth even in dwindling sales trend in the segment. Between 2009 and 2015, Bangalore has climbed 6 places to reach the top position beating the likes of Pune, Ahmadabad, Noida, Delhi NCR, Gurgaon, Kolkata, Mumbai, Indore and Ghaziabad. The pleasant climate and world-class civic infrastructure pepped with remarkable improved governance in Bangalore has resulted in this windfall.
There are many factors that resulted in the kind of boost Bangalore has received from the real estate market. Here are few of them:
- Bangalore is very well connected by rail, road and airways. It takes less than a day to reach from any part of India to Bangalore via railways.
- Bangalore is central city among the growing IT hubs. It forms the locus of IT and ITES companies based out of cities like Hyderabad, Chennai, Pune and Mumbai. It is the virtual core of the IT industry and hence most preferred as a housing base by most professionals.
- In recent years, Bangalore has replaced Pune as India’s educational hub. More students and their guardians are following the trail for a prosperous academics and consequent residence in Bangalore.
- The volume of unsold inventory in Bangalore is the least with a very good regional influx from surrounding places. It has kept the city’s retail segment in a flourishing mode.
- The property segment in Bangalore is stable and competitive offering an appreciation of 13 per cent annually on land and housing assets. This is the best for any Indian city in the real estate market.
What Bangalore holds currently
There are over 76,000 stock units available for grabs in prime locations in Bangalore. The total estimate price of the available inventory is close to 80,000 crores INR. With an oversupply of 35 per cent, Bangalore’s faring in real-estate segment is very healthy despite the sluggish start to the decade. Of them, high-rise apartments of 1 BHK and studio apartments are most popular. Villas in Bangalore are virtually non-existent at the moment.
Currently, there are 1092 Residential Projects in Bangalore expected to be complete by 2016-end. This takes the cost of total unsold inventory to INR 65,411 Crore. Despite such a big risk, the realtors and investors in Bangalore market are upbeat about their gamble. As the market gets big, the buyers automatically have more choices to pull their options from. Currently, Bangalore sells properties worth INR 1,000 Crore every month!
source: Google Search
Best place to buy properties in Bangalore
Bangalore is among top three cities considered best for the High Net worth Individuals (HNIs). There are 10,000 individual million dollar club members who have chose Bangalore to be their base. The places that are attracting most buyers are:
- Central Business District (CBD)
- Secondary Business District (SBD)
- North Bangalore
- Outer Ring-road
- IT Corridor
- Electronic City
- Bellary Road
- Hosur Rd.
- Kanakpura Rd.
Top housing projects in Bangalore are offered by:
- Brigade Group
- Shriram Properties
- Golden Gate Properties
- Tata Housing
- UshaBreco Realty
- Godrej Properties
- Ashoka Group
- Jannaadhar Construction
Author - CommonFloor.com