Now that Greater Bangalore has come into being, with the seamless, effective and well-coordinated management structure and all administrative structures and legal framework in place, the city is likely to attract more corporates and developers for its housing and commercial projects. Many prestigious companies from all across the world already have or are all set to have their base in Bangalore. The formidable list includes Accenture, Royal Dutch Shell, Spirit Aero Siemens and Wind River.
However, the reforms should support the residential and commercial Bangalore Real Estate Market.
Buying Property in Bangalore:
Bangalore Real Estate offers a mélange that covers
Bangalore properties of all types and arrangements such as apartments, farm houses, paying guest accommodation, office space, timeshare, service apartments, land and commercial properties for sale or rent.
Bangalore Property generally commands a premium, but the current situation of oversupply is working in favour of those companies trying to rent in office space in Bangalore's IT suburb of Whitefield. Rentals for Grade A properties in Whitefield are now around Rs.20 per sq.ft.
Retail Space in Bangalore:
Bangalore is becoming a favourite with retail brands, both national and international wanting to open their outlets for the trendy and discerning population of Bangalore. World of Titan, one of India's leading specialty retail chain, has launched their largest flagship store in Indiranagar. Printo, India’s first retail printing brand, catering to small and large businesses announced the launch of its 4th and largest Bangalore store at Whitefield.
Currently the most dynamic Real Estate market,
Real Estate Bangalore has several projects underway, like the much-talked about ‘Lifestyle Habitat’ modeled on the Petronas Towers in Malaysia. On retail property the average yield return have been around 10-12%, 10-11.25% on commercial investments and 5-7% per annum on residential properties.
Property in Bangalore:
There is always a demand for commercial property in Bangalore mainly due to the growing demand for office spaces and retail space in Bangalore even as construction of several shopping malls gets underway.
Home Rent in Bangalore:
Rental Property in Bangalore consisting of rental flats in Bangalore as well as rental homes in Bangalore have been reassuring in terms of rent stability. The Bangalore residential property market is expected to be stable for rentals as well as capital values for quite some time.
For NRIs scouting for good deals in Indian Real Estate market, premium apartments in prime residential areas in Central Bangalore such as Richmond Town, Off MG Road, Cunningham Road etc., as well as in Southeast Bangalore presents a good investment opportunity. Most of these locations generally witness a steady demand and continue to command high rental values and property prices. Villas and Bungalows in Bangalore have enjoyed up to 30% capital appreciation. Apartments in coveted districts in south eastern, eastern and northern Bangalore have achieved property price gains which went as high as 20%.
Bangalore Rental Rate
Well located and well-connected commercial spaces command a premium and the prices in the Central Business District (CBD) in Bangalore are known for moving up sharply and at a sustained rate.
The new genre of Service Apartments in Bangalore has emerged as a cost effective alternative for business travellers and tourists. These serviced-apartments are largely operated by apartment owners or builders and entire apartments (1, 2 or 3 bedroom) or studio units or sharing arrangements can be made available to them.
Indian and international business traffic to Bangalore has driven up the demand within the hotel industry in Bangalore as well.
Apartments in Bangalore:
Chalet Luxury serviced apartments, exquisitely designed, conveniently located to prime business area and the Airport in Bangalore are strategically suited for corporate guesthouses, transit apartments, and holiday homes. There are elegant luxury apartments in Bangalore at Kormangala.
For those looking at Residential Property in Bangalore, Prestige St.Johns Woods Chalet luxury serviced apartments has made a name for itself in quality living, relocation and transit solutions to corporates world-wide.
Bangalore-based Real Estate developer Brigade Group has launched a new project, Brigade Palm Springs in J.P. Nagar in Bangalore to cater to the strong demand situation for Residential Flats in Bangalore. Apartment prices start at Rs.61 lakh. The 172-apartment complex will have luxury 3-bedroom apartments, with a clubhouse and swimming pool, all located within an aesthetically landscaped environment. Penthouses are fully furnished with world-class amenities.
Amitabh Kumar, a writer by profession has been part of content research team of magazines, journal dealing with NRI, non resident Indian news, stories, and issues. Presently he is content writer in website - http://www.nrirealtynews.com emphasizing on
India Properties, property investment scenario in India.
