Bangalore to See Aggressive Real Estate Growth in Near Future
Since the last couple of decades, Bangalore has become the fastest growing economy. The chief growth driver is IT and will lead to significant development of real estate in this city. Bangalore is said to be the great IT hub of the country along with great social infrastructure and multi cultural population. It enjoys frequently growing physical infrastructure and top of the line educational opportunities. Sarjapur Road, Outer Ring Road (ORR), North Bangalore and Whitefield are currently most hopeful residential markets. Being the third largest hub for HNI (High Net worth Individuals), it is going to house of more than 10000 dollar individual millionaires.
Bangalore is known to have large number of expatriates who work or live in this city. There are well cultured and cultured residents with sophisticated tastes. For high-rise residential apartments, huge demand has been seen, especially in areas like Whitefield, Central Business District (CBD), Outer Ring Road, North Bangalore and Secondary Business District (SBD). It is expected to see huge demand in such sub-markets for these residential projects. Bangalore is known to be among most talented individuals for villa developments. There are several row house and villa developments very active in ORR, Whitefield, Sarjapur Road, North Bangalore, and other micro-markets. When it comes to product quality, amenities, and unit sizes, high-end buyers of residential properties are very smart these days in Bangalore.
This segment is about to see huge demand from the buyers who are very price-specific. This is why several affordable projects are getting developed in several suburbs because large land parcels are being offered at lower costs of acquisition. High demand has been seen as Hosur Road, Mysore Road and Kanakpura Road in this segment. In the city of Bangalore, the concept of affordable housing has enjoyed great popularity, especially because of some of the prominent developers like Golden Gate Properties, Brigade Group, Nitesh Estate, Purvankara, Sriram Properties and Ozone Group.
The housing units are very reasonably priced in several cases and they have various USPs and civic amenities. Both ITES and IT industry experts have driven the segment of mid-income housing.