In recent times, the real estate market in India has been sluggish owing to several reasons. Particularly, the demonetization move by the central government has caused a major impact in the realty sector. However, Bangalore’s residential market has witnessed a stable growth as compared to other metropolitan cities of the country. Here are some of the major reasons for the realty growth in Bangalore;
The existence of several Information Technology (IT) and manufacturing bigwigs in the city has played a key role in booming the real estate in Bangalore. Some of the emerging commercial hubs of the city include Peenya, Bommasandra, Hebbal, Marathahalli and Malleshwaram. Owing to the developments of several companies, these localities have been witnessing a huge demand for residential properties among the working professionals.
The development of Namma Metro lines is also one of the major factors that fueled the property market of the city. 6 out of a total of 9 Namma Metro lines networks are functional in several areas of the city. According to realty sources, the areas situated along the metro stretch have witnessed a good capital appreciation. With the phase 2 of Namma Metro line is in the pipeline, it is expected to boom the property prices in several micro-markets in near future.
The demand has been high for high-end residential projects in Bangalore. Especially, Whitefield offers more number of residential projects in luxury segment. With the scope of appreciation is high in Bangalore, NRIs are showing a keen interest on buying a property in Bangalore. Also, the city offers lot of housing options for home buyers. A home buyer can find villas, bungalows, and apartments in Bangalore.
Apart from IT hubs, the city also has the presence of famous educational institutes, as well. Thus, the metropolis witnesses a huge number of migrants from other parts of the country to study here. This, coupled with a heap of Job opportunities has increased the demand for houses in Bangalore. Particularly, the upcoming micro-markets like Electronic City, Whitefield, and the ORR corridor has been luring many end-users and property investors to make a property investment. With this increasing demand for housing, several residential developers have come up with new residential projects in these localities. Particularly, Electronic City has been witnessing more number of residential developments in recent times. Some of ongoing projects here include Celebrity Serenity, SAMK Whitestone Ashraya, Keya Homes The Green Terraces and much more.
When it comes to steady ROI, the localities such as Hebbal, Indira Nagar, Narasapura, Hennur, Yelahanka and Whitefield are some of the most preferred areas for investment. In recent times, these localities have witnessing a good capital appreciation.