Affordable home loans get much cheaper this Season

Affordable home loans get much cheaper this Season

The union budget 2011 has come as a relief to many with the union minister announcing cheaper home loans for affordable homes across the nation. The existing housing loan limit has been raised from 20 lakhs to 25 lakhs. This move is expected to spur demand for low and mid-cost housing. Though this does not ease the prices of properties in urban areas, Tier I and Tier II cities wherein the developers are concentrating post the economic meltdown will experience a greater impact of this.

Places in and around Bangalore that is Mysore and Hosur fall in the tier two and three category. The prices of houses in and around these areas fall well between 25 to 30 lakhs, which is far more affordable by the middle income group. Few IT majors have also ended moving into the new space in greater Bangalore to escape from the pollution and traffic chaos. Thus this has resulted in realties coming up with more satellite township at affordable homes.

The Garden city of Bangalore has been experiencing a never before splurge of properties. The concentration of IT industries in and around has been one of the major reasons behind this. But the city of Bangalore is relatively small and is limited in its infrastructure, and thus is dealing with huge challenges accommodating to the ever-migrating population from all corners of the country. To unravel this, the government has intervened and formed the Greater Bangalore, combining around 110 plus villages, in the northern part of present Bangalore city.

The International airport at Devanhalli, state-of-the-art race course, 5 star hotels, Technical and Software parks are all added attractions to this new found Greater Bangalore. Renowned builders such as Vinay Properties, Teja and Dx Max Properties have their latest offerings in Greater Bangalore, situated very close to the Special Economic Zone and at the most attractive rates. Mangifera, Lake Dew and Eco-Vista are few plots which are their latest ventures.

Along with this, the government of Karnataka is prioritizing the infrastructural need to this newly developed place with projects such as International airport at Devenahalli, Mono rail project, the metro rail project, the development of ring roads and much improved BMTC services.

Thus, if its happening, it is happening in Bangalore, and for investors it is the most appropriate time to invest in properties in Greater Bangalore., since once the complete infrastructure is in its place, the price of properties will hit all time high.

For all real estate greater bangalore related search and query please visit us at www.greaterbangalore.com, The most user friendly and hassle-free website to buy, sell and rent properties in and around Bangalore and Chennai.

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