Bangalore real estate market has probably been one of the most stable market in the country. Certain localities in Bangalore like Electronic City have really changed the way we look at the realty market and set an example and model for development of suburban areas. “Unlike Mumbai, the garden city expands laterally as more and more people move to the city for work. The residential sector throughout India may appear dull despite numerous attractive schemes offered by developers, in addition to the housing loan exemptions from the Government. However, Bangalore has a different story to tell. Accommodating over one million IT/ITes workforce, and expecting to add over 100,000 employees annually, Bangalore witnessed a net absorption of 33,988 units in 2012 of which a lion’s share of 45-50 per cent was seen in Bangalore East. Once upon a time nothing but vast expanse of agricultural land, today Whitefield, Electronic City and ORR-Sarjapur count as the city’s most exciting residential destination with everyone keen to move into that area. ” says Shrinivas Rao, CEO-Asia Pacific, Vestian Global to the media.
He further explains that, “Majority of the IT/ITes companies present in the city house expansive campuses on ORR, Whitefield, ITPL and Electronic City. This region has witnessed massive growth in infrastructure in terms of connectivity. The ‘signal-free ORR’ stretching all the way from Silk Board junction to Hebbal and linking Electronic City to Whitefield is the major highlight of the eastern quadrant.” Today the average capital appreciation for apartments in Electronic City, Whitefield, ORR and Sarjapur is around 13 to 14% every 4 years. Rental yield for properties in Electronic City, Whitefield, ORR and Sarjapur will appreciate to 5% or 6% annually.
Bangalore market is mostly driven by demand by end users or home buyers. The city with its increasing population and flourishing IT sector has been driving other industries in the region. Compared to other metros properties in Electronic City and other primary localities in Bangalore are still affordable with top notch infrastructure and connectivity. Peripheral Bangalore has seen good development for the sole reason that the investment in real estate by the builders have been supported by government and its policies when it comes to infra growth and connectivity. One can buy apartments in Electronic City, Sarjapur, Whitefield, ORR and Bangalore East for reasonable prices. You can invest in luxury, mid segment or affordable housing projects in the locality depending on your budget. There are various options of housing in and around the reason to suit different kind of home buyers with different housing and budget requirements.
With such a variety and options available the market for real estate in Bangalore city as only shown an upward trajectory. Buying any kind of housing in the city will earn you a handsome rental return if you are looking at investing in a second home to purely earn rental returns. So if you are looking to make an investment in Bangalore. Do not hesitate. The market is end user driven and will be a profitable investment option for you.
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