Bangalore Real Estate Market – An Overview

In the past few years, Bangalore has been witnessing a tremendous growth in the real estate market. The major factor that drive the real estate market of the city is the existence of information technology (IT) industries. Apart from being the major IT hub of India, Bangalore has a good social infrastructure, improving physical infrastructure and reputed educational institutes. Currently, the most happening real estate destinations in Bangalore include Whitefield, Sarjapur, Outer Ring Road (ORR) and North Bangalore. Especially, the residential demand is high for residential properties in North Bangalore, as the prices are moderate here when compared to other localities in the city.

Moreover, Bangalore has been the most preferred property investment destinations for Non-Resident Indians (NRIs) who wants to settle down in India in the future. Thus, some of the reputed residential developers build the residential real estate projects in Bangalore by targeting the NRIs.

The mid-segment homes are majorly driven by the working professionals who work inIT-It's industries. Some of the major factors that drive mid-segment homes are proximity to employment hubs, good physical and social infrastructure. When considering these factors, the localities such as Electronic city, Whitefield and ORR IT corridor are the best choice for property buying.

When compared to other major metropolitan cities in India, the demand for high-end residential projects has been high in the city. Especially, Bangalore is one of the best destinations to invest in villa projects in India. Some of the major areas that offer more villa and row house project include Sarjapur Road, Whitefield, Outer Ring Road and North Bangalore. The price of these properties depends on the amenities and quality of the project.

The outskirts of Bangalore has witnessed a huge demand for affordable housing segment. As there is a heap of vacant lands available at lower prices, it has encouraged the residential developers to build affordable housing segments in the outskirts. Besides, the proposed Peripheral Ring Road and Metro rail development has further increased demand for properties in the outskirts. Thus, if you are looking for homes for sale in Bangalore at an affordable cost then outskirts would be the ideal choice.