Realty Demand in Bangalore Seems Never Ending

For a city that plays the role of being the nation’s leading IT (Information and Technology) exporter, the Silicon Valley of India aka Bangalore is one city that is growing day-by-day. Attracting floating population from across the globe, Bangalore has expanded to its peripherals and the realty demand in the city seems never ending. The realty market of the city has developed into a space where individuals of every stature can own a house. Flourishing IT sector, great connectivity and rapid urbanisation are some of the factors that are helping Bangalore into becoming a hub that is brimming with construction activities. Residential properties in Bangalore have undergone a makeover- the city now has an array of residential properties that suit the working class and the affluent.

Whitefield, Electronic City, Begur Road and Sarjapur Road are some localities that rapidly developing. These micromarkets are blinking on the realty radar only because of the expanding IT sector and great connectivity. Housing units in vicinities like Electronic City and Whitefield are ideal for investors as IT professional like renting out spaces then owning a house. A 2 BHK apartment for sale in a locality like Electronic City generates a rent of Rs 12 to 19 making Electronic City a favourable market for investors.

While Electronic City is one sector that is preferred by working professionals due to its close proximity to IT parks, Begur Road is a favourite amongst families because of the availability of basic civic amenities. Property for sale in Bangalore especially in Begur Road is purchased by real estate developers who want to develop the locality’s skyline. The locality has over 100 housing projects coming up. An apartment for sale in a locality like Begur Road is estimated to fall under the price band of Rs 3,000 to 3,500 per sq ft.

Rapid infrastructure is another factor that is helping the real estate sector flourish in Bangalore. And to develop the city further the government has many infrastructure projects in the pipeline. The Namma Metro project has not only eased the traffic bottlenecks in the city- it has also given a severe push to the realty prices in the city. All the residential properties in Bangalore in and around metro stations have appreciated by 00%. The BBMP’s (Bruhat Bangalore Mahanagara Palike) plan to widen important roads like Kanakapura Road, Bannerghatta Road and Sarjapur Road will help improve intercity connectivity. Another project that will boost the realty demand is the proposes PRR (Peripheral Ring Road) project, the PRR is capable of reducing travel time by half.

While the city attracts a fair amount of migrants, it doesn’t come as to see the city rapidly developing its commercial space. Apart from state-of-the-art office spaces, the city is a home to many malls. While office spaces are dominated on the Mysore Road stretch, Tumkur Road is fast becoming a hub for commercial and retail establishments. Both local and national real estate developers and builders are cashing on this trend and are creating a number of housing projects on these stretches. A property for sale in Bangalore property for sale in Bangalore specifically in areas like Tumkur Road and Mysore Road are estimated to hover anywhere between Rs 4,000 to 5,700 per square feet.

Ranjitha is a freelance writer and blogger, following the Houses for sale in Bangalore and real estate sector closely for many years.