Friday, 16 December 2016

Bangalore Enjoys the Real Estate Downpour!

The demand for buying a property in Bangalore has triggered a spate of residential, commercial and retail developments in the city. Reputed builders and developers are moving to the suburbs of Bangalore finding a shortage of space in the main city.

Bangalore comes with many choices for a residential space. As per individual needs and budget one can settle for 1 BHK apartment or a lavish villa. Before purchasing any property plenty of attention should be given to the location. A centrally located property in this tech city demands a heavy price while that in the suburbs may fall in an affordable range. Residential properties in areas like Whitefield, Off Cunningham Road, Sadashiv Nagar etc., are a favorite among the elite. However, if you want to purchase a property in Bangalore, but not in the posh localities then you may opt for Koramangala, Jayanagar, BTM Layout, K.R.Puram, Madiwala, Indira Nagar, Malleshwaram, Banshankari, Marthahalli and HSR Layout offering budget properties.

By and large, the huge influx of IT professionals coming to Bangalore to pursue their career goals increases the population count as well as the demand for residential properties. The deficit in the availability of properties has stirred the real estate market in Bangalore. The highest property demand in Bangalore comes from the middle working class. This segment of the society is actively participating in the real estate market to find a decent and affordable living space in the city. The developers have started developing affordable residential townships in full swing. This indeed is the right time to own a residential property in Bangalore.

Commercial and retail developments in Bangalore indirectly amplify the demand for properties. High paying IT jobs, world-class malls for shopaholics and an upgraded lifestyle makes Bangalore look more appealing in the eyes of potential buyers. Real estate in Bangalore is beaming with life not only because of the domestic buyers, but it has NRI investors pouring in like never before. The significant appreciation in the prices of properties has encouraged the NRIs to invest more for profitable returns. If the residents of Bangalore do not act swiftly towards owning a home, the city will soon see a stage when NRIs will own the city by and large. The only concern is NRIs have been purchasing properties in the city for investment sake to yield better profits while for the residents it is a basic necessity.

The suburbs have come as a relief for the government and the private builders. All types of properties in the suburbs of Bangalore, whether residential, commercial or retail, fall within the affordable bracket for many. Are you still indecisive? It's now or never!

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1 comment:

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