The rise of multiple growth factors and new regulations that have been set by the Real Estate Regulatory Authority (RERA) in India have created a positive scenario for buyers who wish to invest in real estate. If you are considering a property deal in Bangalore, this list will help you be better aware of the options that are available in the city at present, and the ones that would be better for you in the long term. Let’s first have a look at how the real estate market in Bangalore is.
Why is the Bangalore Real Estate Market Favorable?
There has been an evident increase in the operational revenue of leading property developers in Bangalore. This signifies that the real estate investment in the city is currently a safe bet. Here are a few of the main factors that make Bangalore a favorable real estate market.
1 - Professionalism of Builders: Bangalore has a lot more professional builders when compared with other cities in India. Therefore, the property developers in the city are more reliable and easier to work with. As a result, when you are wondering where to find the best homes or if you are an investor seeking commercial properties, Bangalore becomes an encouraging choice.
2 - Better Transport Routes: The launch of metro routes in Bangalore has further boosted to its real estate market. In general, the launch of such convenient means of public transport results in a higher value of property in the surrounding locations. It’s an upsetting fact that traffic congestion has become one of the major issues faced by urban dwellers; a preference for homes near the metro stations is likely to rise.
3 - Market Stability: The real estate market in Bangalore is largely driven by the end users. It has remained stable for a good amount of time which adds to the list of reasons why it is a safe to buy property in Bangalore.
4 - IT and Infrastructure: Considering the high density of IT investments and development in the city, the prospects of increasing property value is substantial. Higher IT investments and a better urban infrastructure also translate into an increasing number of white collar professionals immigrating for better career prospects in Bangalore.
5 - Climate: For individuals and families looking for the best places to invest, Bangalore’s climate makes it a winner. The city remains pleasant during most of the year, and has a lower vulnerability to natural disasters such as earthquakes and floods.
6 - Broad Range of Available Options: Apart from the apartments available as per varying budgets, Bangalore also has plenty of options in terms of the type and size of properties that may interest you. There are affordable housing units, luxurious apartments and ultra-luxurious townships with great connectivity. It is a complete package that would interest all kinds of investors and prospective homebuyers.
Top 3 Localities for Real Estate Investment in Bangalore
There are several promising locations for investment in Bangalore. Whether you are looking for a family apartment to buy or a condominium just for yourself, you will find a variety of options in the following locations:
Kanakapura Road is known for its smart residential layouts and land availability. It is very well-connected to the rest of the city, and boasts of several cultural and spiritual activities that happen quite frequently in and around the area. This contributes to the place’s appeal, making it one the hot spots for residential property investments.
Devanahalli is one of the fastest growing residential populations. This fact alone says enough about the favorability for further progress. Multi-development projects have already been proposed, and its proximity to the Bangalore International airport makes it one of the hottest options available for investors.
Whitefield has been a long standing hot spot for real estate development in Bangalore. It is prominently known for the huge IT projects and infrastructure pipelines. There have been numerous other investor-friendly growth factors that have been an ongoing process since the early 2000s. You will also find multiple residential apartments in Whitefield. In the recent times, Villas in Whitefield has become a highly preferred property type in the locality.
The Peripheral Ring Road in Bangalore connects all major highways and has created a promising scenario for homebuyers in the city. The development in the city promises greater appreciation of homes and apartments in the years to come. Areas like Kanakapura Road and Whitefield have stronger potential for ROI in regards to real estate investments in Bangalore. You should always discuss your options with the professionals to be sure before you invest in real estate. Make sure to explore the above mentioned localities before you conclude your investment.