Bangalore Real Estate Review 2014,

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Published: 06th February 2017
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Bangalore is one of the India's fast growing city from past few decades. Information Technology is key factor behind rapid real estate growth of Bangalore city. Bangalore, which is also known as IT hub of India includes multi-cultural population, good social infrastructure, excellent educational institutes and improving physical infrastructure. At present, Outer Ring Road, Sarjapur Road, Whitefield and North Bangalore are very favorable residential locations.
Bangalore stands in first place in terms of investments from Non Resident Indians who are looking to settle down in India and ranks as third largest < a href="http://www.propconnect.in/">real estate investment hub for High Net Worth Individuals (HNIs). Bangalore has all types of population due to its cosmopolitan culture and it has large base of expatriates living and employed in the city. There is continuous demand for high-end residential apartments in city, mainly in Central Business District, Secondary Business District, Whitefield, North Bangalore and Outer Ring Road regions.

High Segment - Rs. 1.5 Crore and above

Demand for high end residential projects is expected to be stable over the next year. Bangalore has seen luxurious villas and row house developments in India. Whitefield, North Bangalore, ORR and Sarjapur Road has most active villa and row house developments. But amenities, product quality and size of units are essential things for customers while selecting villa or row house for buying.

Mid-segment - Rs. 75 lakg to 1.5 crore

Individuals working IT/ITes industry are main investors in this segment. Good social infrastructure, proximity to workplace, good physical infrastructure, access to medical, educational facilities and others are major aspects gaining attention of mid-segment home buyers. Whitefield, ORR IT corridor, Electronic city and few areas in North Bangalore will gain demand over next year with respect to mid-segment home buyers.

Affordable Segment - Below Rs. 50 lakh

Outskirts of the Bangalore will witness constant demand in affordable housing. Obtainability of large land parcels at lower prices has encouraged affordable housing projects in these areas. Also, the planned Metro rail and the Peripheral Rind Road have increased demand on outskirts of Bangalore.
Few important affordable housing projects in Bangalore city are VBHC Attibele and Patel Neo Town in South Bangalore, Provident Walworth and Sovereign Lakefront in North Bangalore, Provident Sunworth and VBHC Kengeri in West Bangalore, etc. However, there is less demand for budget housing in East Bangaore when compared to other parts.

Review:

Bangalore market witnessed improved residential real estate captivation; over 30 residential projects were launched across Bangalore in the last quarter of 2013.Capital values are estimated to become stable and rents for residential properties in Bangalore city are predicted to record marginal growth. Furthermore, below listed aspects influences capital rise and rental prospective in Bangalore:
Growth in the IT Industry
Rise in number of High Net-Worth Individuals, NRIs and expatriates
Proposed organization by the Government (Peripheral Ring Road, Metro Rail, Signal Free ORR, High Speed Rail Link, Mono Rail and Elevated Expressway)
Proposed SEZ and IT parks in North Bangalore (ITIR in Devanhalli, Aerospace SEZ, Devanhalli Business Park, Airport City)

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