Reasons Behind Continuous Growth of Real Estate in Bangalore

Posted by on Apr 6, 2015 in Business Investment, Business Tips | Comments Off on Reasons Behind Continuous Growth of Real Estate in Bangalore

Bangalore is one of most modern cities in the country growing and leaping in every aspect. Profoundly called as the Silicon Valley, Bangalore is now emerging as IT hub. With the development projects being carried out in this city its now attractive lots of people from different cities to have permanent residencies.

Bangalore real estate is at its peak level of growth, with the increase in settlement, both for the commercial and residential purpose. Flats, villas, row houses, bungalows, pent houses are being awarded with the huge investment options to facilitate the growth of people coming from different cities.

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Bangalore itself has witnesses a growing amount of investment from foreign companies keeping in view the state of art infrastructure, all the amenities have been planned in close proximity to call, project developed in the prime locations all have added value to the properties of Bangalore.

There are few locations in Bangalore such as: Whitefield, Koramangala, BTM layout, HSR layput, Malleshwaram, Indira Nagar, M.G. road etc, which are among the hot locations.

A lots of new projects are now been constructed keeping in view the flow of investment from government and private owners to poured in money for the development of with multiplexes, gated communities and constructions with really good architectural designs.

The real estate has been growing at a much faster pace with the development of segmented housing facilities to cater different segments of the society. The population is divided among the three major segments; luxury residence, mid – income housing, and affordable housing.

In luxury residence, all those NRI who are earning lots of money are being provided with housing projects which are separated from the other segments of the society keeping in view Bangalore accounts for third largest hub for the High net worth individuals (HNIs). Bangalore has estimated over 10,000 individual dollar millionaires.

Mid – income housing accounts for people working in IT and ITES industry. The main reason behind success of this segment is that their homes are constructed with close proximity to the workplace, good physical infrastructure, and easy access to medical and health facilities.

The reason behind the affordable housing is that people demand for the small unit sizes, with civic amenities and other USP which has been provided differentiating them from other micro level city.

Real estate agencies are now focusing on the development of small unit sizes to facilitate the growing number of settlements in the city keeping in view the city has now a become a IT hub.