Why Bangalore is New Attractive Property Market in India?Considered the IT capital of India, Bangalore is one of the few cities that has managed to generate substantial returns on real estate investments, where some other large cities showed slumping returns. This is primarily due to the cascading effect of rising economic growth and infrastructural expansion. Since land is a fixed and scarce resource, residential expansion is more vertical.
Consequently, one can find several residential projects and apartments for sale in Bangalore. One notable feature is the availability of quality modern residential options at competitive prices. For instance, at Sobha Dream Acres, one can buy 2BHK luxury apartments at prices starting Rs. 60 lakh.
Here are a few of the reasons that make Bangalore such as attractive property market in the country:
Higher Employment & Increased Income
Bangalore witnesses a perpetual influx of engineers and other high-skilled professionals in all fields. It is the home to some of the leading IT companies and MNCs serving domains other than IT. The city is also making tremendous advancements in terms of entrepreneurial roles and start-ups.
Also, the income structure of the formal sector of Bangalore is extremely competitive. The overall effect of these has been the expansion of employment opportunities, increased income and swelling demand for housing properties.
Manufacture Hub & SEZ
A major cause behind the sustainable rise of the real estate in Bangalore is the expansion of manufacturing hubs in the city. With more than 40 functional Special Economic Zone (SEZs) and several others to come, the trade, commerce, retail markets have also shot up, which in turn is augmenting well for the property market of Bangalore.
Infrastructural Expansion
Development of IT parks and the presence of corporate conglomerates have contributed significantly to the growth of infrastructure in the city. Out of the 9 proposed Namma Metro lines, 6 are already functional. Groundwork of the Peripheral Ring Road to connect Hosur Road and Tumkur Road via Airport road will commence soon.
A High-Speed airport link of 34 km connecting Kempegowda airport and City Centre is also being developed. With such excellent connectivity developments, the price and demand for properties in the surrounding areas are continuously rising.
Consistent Value Appreciation
According to the City Momentum Index, among 131 established and fast-growing cities, Bangalore is the most dynamic one. This ranking is based on several socioeconomic factors and real estate indicators. Plus, the implementation of RERA and GST has also induced real estate demands and brought transparency in transactions.
Following these, the value of properties is expected to witness a sharp rise in the upcoming days; thus, investments in real estates of Bangalore is expected to generate significant returns in the future.
Upswing NRI Investment
On account of the factors mentioned above, Bangalore has surfaced as a popular center for NRI investments. NRIs are increasingly opting to buy property in Bangalore, both for residential purpose as well as an investment instrument. This is because of the increasing value of the land and high demands for the same, the rising market for vertical residential expansion, availability of affordable as well as luxury apartments and of course the soothing weather.
Hence, It won’t be wrong to say that Bangalore is one of the prudent destinations in India for real estate investments. It offers an array of choices at competitive prices which is expected to rise even more in the near future. In case you need financial assistance to fund your property purchase, you can take home loans from Bajaj Finserv Homes & Loans, which offers finances up to Rs.10 crore at highly competitive prices.
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