subject: Bangalore - Fastest Growing Cosmopolitan City In Residential Property Market [print this page] Bangalore being the asia's fastest growing cosmopolitan city in residential property market and the favourite destination for most high tech industries in India. During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone's lip, Bangalore registered both healthy transaction as well as upward price movement. Some property analysts believe, Bangalore is possibly the safest location for investments in the world. Prices do not skyrocket or get hyped here and they do not go downwards too like they have in many other prominent locations in India.
The booming IT Software Services/ ITES companies has led to the escalation of demand in real estate. Bangalore is racing ahead in all direction. The endless demand for commercial and residential property driven by the IT sector, meant scouting for feasible land parcels in the suburbs. There have always been many good reasons to own a home security, favourable home loan terms and attractive options in the market to name a few. The single-most significant factor now that makes a residential property a basic necessity is the expanding horizons of the city.
The Outer Ring Road is an example of how civic infrastructure opens up huge opportunities in Bangalore's real estate market. All it takes is a wide road to push property prices up in the vicinity. In this scenario, residential property prices are bound to turn dynamic with an upward bias in the near term. The efficient connectivity to the suburbs, thanks to the upgradation of arterial roads, opened up more vistas for development. The large land parcels here and the relatively low rates created opportunities for developers to build state-of-theart facilities that have been much in demand.
As residential property prices go up, rentals too keep pace. Bangalore is a host of large infrastructure projects have been planned with along-term vision. Residential property is a significant factor in this landscape. Cyclical trends don't matter over a long term, especially in case of residential property that is bought for a life time. The city's residential development has grown over the last decade. This fast-paced growth is due to various factors. The emergence of the city as the IT hub in the region, the infrastructure and quality of life as well as the pleasant climate ensured that Bangalore was on the fast track to growth.
Today, the Residential Property in Bangalore market has undergone a sea change from what it used to be some years ago. Infact, since reforms were introduced two decades ago money is now very much available with the Indian middle class. Thus, today people in cities such as Bangalore are very much interested in living life luxuriously. Therefore, the demand for luxury residential property in Bangalore is very much on the rise.
