With its status as a favored IT destination and efforts to improve the city’s infrastructure with clearances such as Bangalore International Airport and Metro Rail, approval of Bangalore – Mysore express highway, inner and peripheral ring roads, Residential and commercial real estate prices have skyrocketed. , making property in Bangalore a sought after investment destination.
The city has further development potential, with the possibility of old buildings being replaced by newer ones. The immediate development of the city is expected in a radius of 15 to 30 km. With smaller land plots available in the developed parts of the city and densely populated areas, high-rises are a good option for Bangalore for the foreseeable future.
Property rates in Bangalore have been rising due to software development/BPO, a stable job market in the IT industry and an increase in the city’s workforce have contributed greatly to the real estate scene in Bangalore.
The growth in the real estate sector can be attributed to user driven purchases, the lowest interest rates ever, tax benefits and the increasing number of working couples in Bangalore.
The international recognition that Bangalore has received and the positive outlook for the entire economy in general have also led to real estate growth in the city, making it a sought after destination for the residential real estate market.
Big municipalities, huge apartment complexes with various amenities are making Bangalore more global, in line with cities like Mumbai.
In the recent past, the city had witnessed many companies coming together to participate in infrastructure development in areas such as highway maintenance, community park development and maintenance, lake rejuvenation and maintenance, neighborhood rehabilitation marginal, etc.
These planned development initiatives to accommodate its rapidly growing population will contribute to an increase in Bangalore’s residential property offering buyers a good return on investment.
