Real Estate Bengaluru
Ever since the computer industry set its eyes on Bengaluru, the price of real estate seems to have gone up through the roof. Nowadays, most of the people know Bengaluru as the Silicon Valley of India but it is also the State capital of Karnataka. The official name of Bangalore has been changed to Bengaluru. The development of the real estate market in Bengaluru is because of several reasons. Some of these reasons are as follows.
Estate developers and builders
The top estate developers and builders in India have targeted Bengaluru and made it the centre of all operations and future projects. The influence of these estate developers and builders is such that it has changed the face of Bengaluru. The economic progress of this city is so much and so rapid that it is being referred to as the fastest growing city of Asia. The developers and builders are building houses which are masterpieces of architecture. The houses that are being built, nowadays, are both for the rich and for people of the middle class. Usually, it is seen that in this trend of the booming real estate market most of the residential and commercial prices are priced at a higher end.
It is usually seen that the major concentration of the city’s population is in and around the transport and shopping facilities. Bengaluru is not an exception. Residential areas like the Indiranagar, Koramangala, Vijaynagar and Mallaya road are not only well connected but are also known as posh localities. Bengaluru is one of most well-equipped cities in India because it has got all the basic facilities such as infrastructure for health, education, defense, research, natural resources. The city boasts of whereas technological institutions like Hindustan Aeronautics Ltd., International Technology Park, Electronics City, and Hindustan Machine Tools, National Aeronautics Laboratories. It is also home to a large number of shopping complexes and multiplexes. The roads of the city are well maintained. South Bengaluru is mainly residential.
Outskirts of the city
This city is developing so fast that the top builders have started investing in the real estate that is predominantly considered the outskirts of the city. This includes Sarjapur, Hoskote, Kengeri, Whitefield, Electronic City, Kanakpura, and Bannerghatta. Real estates which are as far as 25 to 50 kilometers from the city are witnessing appreciation. Most of the projects are being constructed along the ring road and the periphery of the city. The prices of the land has gone up by nearly 100% where as the price of the residential apartments has gone up by approximately 70%.
The development of the information technology industry is the main cause of the real estate development. The city is flourishing with business process outsourcing units and knowledge process outsourcing units. It can be said that Bengaluru is riding over the back of the never ending boom in Information technology.
Any city usually develops because of the trade and commerce. The city has modern shopping and commercial complexes. There are a lot of retail spaces and showrooms along with office spaces in the city. When it comes to industrial estates, Bengaluru seems to be surrounded by industrial estates such as Peenya industrial estate, Rajajinagar Industrial Estate, and Bommasandra industrial estate.