Surge In Demand For Luxury Homes In Bangalore

Having the high prices of property in the central business district (CBD) areas

, the suburban and peripheral locations are favoured by investors now. Investment in suburban and peripheral areas offer immense scope for price appreciation due to prevailing competition, attractive prices and the growing demand for residential units, say industry experts. With improved connectivity the demand for residential property in the vicinity of IT/ITES comapnies is likely to go up including the scope for residential accommodation. As a result, investors are looking at suburban and peripheral locations for the right options to derive maximum yield.

The market of residential property in Bangalore is bouncing back with a spurt in the level of inquiries for all categories of units. Unlike other inquiries ranging from budget apartments to high end homes are up with the result property developers are regaining confidence to launch new projects. Bangalore's residential property market is also turning towards location and projects specific options where developers are able to market their projects.

This is especially so when the budget is not too high and they are comfortable with the lead time. The scope for capital appreciation during the project's implementation period is high in such cases. With more land available, improved connectivity and proximity to IT corridors, the suburban and peripheral locations are witnessing the emergence of a number of residential projects at competitive prices.

Bangalore being the metropolitan city and a IT hub witnessing an exclusive demand for premium homes. Bangalore real estate has been experiencing a stable demand for luxury homes in the past few years most of the end users of the city want to invest only in luxury segment. Now a days people looking for furnished and semi-furnished apartment, super-luxury villas and condominiums within the city or in the outskirts where they can get every kind of comforts and enjoy a high-end lifestyle.

Today people are not just looking a home as an accomodation or investment but as a new lifestyle statement. To bridge the gap, developers are including more hi-tech features to their project to attract buyers. Bangalore is also favourable real estate destination of foreign investors and thus it is again very important that the residential property should meet global living standards.

Rising demand for housing in the bustling city of Bangalore has resulted in growth of new residential hub in peripheral areas. Like Electronic City, located near the peripheral ring road is one of the emerging areas of South Bangalore distanced approximately 40-50kms from Central Business District (CBD) regions. Electronic City is the IT hub encompassing more than 300 multi-national companies. Increase in demand for hosuing has compelled developers to launch reisdential projects in the neighborhood.

Residential Property is a safe investment avenue here given the dynamics of population and demand. The rapid urbanisation across the counrty and consequent demand for spaces are keeping the property prices on an uptrend. In times of global slowdown, only property as an asset class has yielded significant returns in India.

The emerging luxury housing trend is driven by big corporate professionals, high net worth individuals and big businessman. The aim to live a world class lifestyle with best of architecture and other amenities where an individual can rejuvenate and relax are the main ideas behind the enhancing demand.

by: lokeshmanu24

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