subject: Property Development at its Best in Bangalore [print this page] India has secured 5th position as the most attractive destination for realty investments in coming times in a recent report by FCCI and Ernst & Young. The real estate sector is witnessing an unparalleled boom today despite the hit by recession for one-and-a-half years. Even as property market of smaller cities is undergoing massive developments, big cities continue to be among the most preferred investment centers. Property in Bangalore is one such example that has been flourishing in full swing even as tier-II & III cities attract realty developers from across the country.
Bangalore is among the fastest growing cities in Asia being the favorite IT destination of world leaders. The commercial real estate market of this capital of Karnataka has witnessed such gargantuan developments that it has now become almost saturated. Property in Bangalore began developing with the appearance of software companies both Indian and multinational in the city. The commercial structures were set up and infrastructure improved to cater to the needs of software and technology giants. Leading property builders both national and local showed keen interest in developing Bangalore realty sector. This resulted in creation of world class office spaces displaying modern designs possessed with state-of-the-art amenities. The establishment of such quality commercial units spelt initiation for boom in real estate market of the city as it entered residential and retail sectors as well.
The city is an important education hub of the country with some of the most prestigious colleges, educational institutes and research centers. Bangalore is considered to have one of the most cosmopolitan cultures in the country besides offering a lucrative job market and high quality infrastructure. The Silicon Valley of India' known for its youthful surroundings is conspicuously a fashion conscious city. It extends high standards of living and luxury, thus, becoming all the more attractive to both student and professional fraternities. As a consequence to the best academic & corporate environment and open culture, larger numbers of people are migrating to the city. The large scale migration has increased the population manifold and is estimated to reach over 10 million within next 2 years. In wake of the rapidly multiplying denizens, huge demand for residential and commercial real estate in Bangalore has been generated. Various property builders are coming forward to develop structures in the city across housing, office and retail space sectors.
Bangalore real estate looks upbeat with large scale construction carried throughout the city. From affordable housing to luxury apartment to independent villas in residential segment and from swanky shopping malls to multi-storied multiplexes to big retail outlets in retail realty section, all kinds of structural projects are being worked on by leading developers of the country. It has become such a popular realty destination that Cushman & Wakefield ranks it as the most sought after in commercial & industrial realty segments and the third preferred in residential & hospitality sectors in India. Bengaluru property market promises to yield considerable profits to those who invest in the sector right now.
With Indian real estate growing at a supersonic speed and an anticipated expansion of 30% annually over the next decade, the sector is sure to reap monumental benefits. The enormous boom in a country's realty industry has never been seen before, that too over such a short period of time. Probably this is why India property market is witnessing keen interest from foreign investors in form of investments from NRIs and FDIs (Foreign Direct Investment). The property trends are going to see enhanced demand and production along with considerable increase in prices in the coming years as well.
