Bangalore is no doubt is one of the fastest growing cities in India. It is also known as the silicon valley of India. As the name suggests, most of the IT giants have their offices in Bangalore. Companies like Microsoft, Google, Facebook, Apple, Accenture, etc. have their head offices here. The city enjoys high demand in real estate. As per recent studies, Bangalore is one of the few cities where property prices are stable and most likely to rise in the near future. Property Developers in Bangalore are grabbing every opportunity they can get to turn a potential piece of land into an investment. Bangalore has become a major hub for residential and commercial investors for real estate.
The present property developers in Bangalore have totally revamped the look of the city with their elegant high rise buildings like IT parks, shopping malls, commercial complexes and elite residential properties like apartments, penthouses, villas, row houses with requirements matching up the international standards. Residential and commercial properties are mushrooming at an astonishing rate not just within the city but even out-skirts of Bangalore.
As the city lures more multinational companies, the real estate developments are done with international standards for safety, livability and durability. With high employment potential, the city draws attention of mass workforce. The demand for residential apartment is significantly high in the city. The property demand in Bangalore can be broken into 3 different segments.
High-end luxury residential properties
Bangalore is the third largest hub in India for high net worth individuals or HNIs. With the presence of multinational companies, the city houses many expatriates. This section of people have traveled across the globe, have a sophisticated taste and are influential in their own fields. These people look at the locality, travel proximity and ease to their work location, proximity to shopping arcades, etc. They look for residential properties with world class facilities. The major demand is for villas and row houses. Such properties can be found in Central Business District (CBD), Secondary Business District (SBD), parts of Whitefeild, etc. in Bangalore.
As the information technology giants settle in the city, a lot of skilled workforce has settled in the city. This section’s major demand come from these working professionals. The mass generally look towards social infrastructure, proximity to workplace, access to medical and educational facilities, etc. This has given growth to many localities in Whitefield, Outer Ring Road IT corridor, Electronic City, etc. There has been a steady growth in demand from this segment .
This segment has demand from a very price sensitive buyers. These projects in-order to be priced economically are placed on the outskirts of Bangalore. Areas such as Mysore Road, Hosur Road, Kanakapura Road, etc. has seen high demand for affordable housing. The developers and builders in Bangalore have also given adequate attention towards this segment. In most cases affordable housing units are offered by reducing the size of the unit, compromising on civic amenities, etc. These houses are mostly unfurnished.
Apart from its own population, the city hosts a lot of migrants, it is possible that a real estate agent in Gurgaon may receive a client’s request to give him options about properties in Bangalore. Kolabro is an mobile app available for Android and iOS which can give these options. The app is a hundred percent broker to broker network. The best part is it is absolutely free to download and use it.