Why does Bangalore top the list among metros?
It is quite evident and undeniable to state that metros more than any other second or lower tier cities are generally the preferred realty destinations for high net worth individuals(HNIs). Although it is much more conspicuous to say that Bangalore has emerged to be the most desirable out of all the metropolitan cities of India. To comprehend and analyse the key factors which drives investment from HNIs in the city, 99acres.com lends a helping hand.
Contributing to Bangalore’s real estate growth, are the IT industries based in the city. This has been a driving factor in carrying the torch and acing all other corporates and industries and playing a significant role in comparison to several other factors. The general public as well as businesses would without a doubt consider migrating to places which provide a plethora of opportunities to job aspirants and this has played a very crucial role in contributing to the city’s real estate growth as it houses a large number of corporate giants like Google, Microsoft and Oracle.
The city of Bangalore has witnessed a spurge of progressive infrastructural development over the years along with a hassle-free connectivity nexus which places it in a potential and captivating proposition for end-users as well as investors. Significant growth witnessed via short to medium-term returns on investments have it made it all the more easier for HNIs to generate funds locally due to minimized interest rates. Overall, Bangalore’s realty growth has observed consistent recognition and appreciation in property prices owing to quicker transactions of purchase in the industry and relatively lesser number of unsold units indicating progress and efficiency.
Considering that fact that the “Silicon Valley of India” is on a fast-moving pace, the cosmopolitan culture it houses is on the rise along with the educational sector attracting a number of students world-wide. IT hubs retaining thousands of employees followed by the corporate and industrial sector call for affordable housing which has gained immense popularity although luxury housing remains to be the most vibrant and dynamic segments in the city owing to the quality of offering, creativity, innovation and modern architectural designs. Top-notch premium properties in proximity to IT hubs along with well-developed social infrastructure and ease of access to education centres and health care are the most in demand in terms of convenience.
Although not situated in the heart of the city , the luxury properties located in the northern region of Bangalore are the most preferred destination for HNIs considering the robust infrastructural developments, smooth connectivity and network in terms of commuting, proximity to the international airport are the key game changers considering this part of the city alone.Destinations not restricted to luxury housing but also commercial spaces simultaneously would be preferred and some of the areas such as Rajajinagar, RMV Extension, Sadashivanagar, Malleswaram and Shanthala Nagar are the prime localities wherein luxury housing has been proposed, preferred and pronounced. Affordable pricing continues to be a major factor and fortunately, the property rates in this part of the city are less in comparison to those located in the heart of the city where the rates are on a constant high for obvious reasons. Other destinations towards the peripheries such as Kanakapura Road, Nallurhalli and Kengeri which are favoured by first-time home and property-buyers also offer more options in terms of affordable housing.