Real estate has seen a very eventful year as RERA, GST and the 2018 Budget, have all played their part in changing the dynamics within the sector. This has invariably raised plenty of questions in the minds of the homebuyers. ?
Let’s take the example of Whitefield, which is a rather prominent area in East Bangalore. It has developed into a self-sustaining area. Being an IT destination, the Whitefield area has good social infrastructure and physical infrastructure. Hence the demand for flats remains high and Whitefield is just one of the areas of East Bangalore that is witnessing sustained growth. So let's look at the primary reasons behind the rise of real estate in East Bangalore.
Profitable Investment Option
East Bangalore has come to the limelight as the most profitable investment option in the city, and is among the fastest emerging residential hubs in Bangalore. One of the key factors that have contributed to the growth has been the availability of commercial developments with IT offices and parks to go along with key infrastructural developments. Add to that, the connectivity to the new airport and other major areas of the Bangalore, have resulted in a real estate boom in the area. The lush green surroundings and relaxed feel of the area is just the icing on the cake for any nature lovers looking to buy property here.
Proximity to Important Areas
One of the biggest challenges that homebuyers face is to pick a perfect place to invest. East Bangalore has been scoring well when it comes to location. As already mentioned, Whitefield is one of the IT hubs of the city with numerous tech parks cropping up here and creating new jobs. This, aided by the fast growing commercial and residential projects, makes the area a self-sustained economy in the city. To further add to its viability, East Bangalore is home to a number of shopping malls like Phoenix Mall, VR Bengaluru and Forum Neighborhood Mall and fun entertainment destinations like IONA.
Besides being an excellent location with lush green surroundings, accessibility to your workplace is another big bonus of living in East Bangalore. With multiple MNCs like SAP, IBM, Volvo, etc. operating from the area, you are bound to be close to your work place. In fact, ITPL, Bagmane Tech Park and EPIP zone are all located a short drive away from the residential complexes in the area.
A Decision That Only Gets Better With Time
On the whole, the East Bangalore area enjoys great connectivity to almost all parts of the city. The Namma Metro project and proposed Phase 2 of the city’s Ring Road are some further reasons that are driving the current wave of growth in this locality. Luckily, for homeowners who invested here, this growth is widely expected to continue along the same trajectory for many years to come.