The Silicon Valley of India is turning
into the new real estate hub of the country. For the past few years many
Information Technology enabled Services and Business Process Outsourcing
companies have set up offices in Bangalore. This has created an active demand
for commercial and residential properties in Bangalore.
In the commercial segment of the BangaloreReal Estate, office spaces are the most in demand. This is due to many IT
companies either shifting base to Bangalore or expanding their office floor
area in the city. The increase in the number of companies is in turn creating a
demand for residential spaces and it is encouraging the real estate players,
from small to big ones, to come up with various attractive projects.
Real estate in Bangalore
has been signified with robust growth and a positive purchasing pattern from
customers who intend to purchase plots, flats and villas in and around
Bangalore. Across the world, the phenomenon of price growth has a very unique
pattern and the same pattern is seen to be followed in Bangalore. Detailed
studies by various real estate funds, managements and related research
organizations have confirmed this pattern. This pattern means that the real
estate prices in the outskirts of a city grow faster than in the inner city or
Central Business District area.
In terms of residential real estate, the
best performing areas are Hebbal, Sahakar Nagar and RT Nagar in North
Bangalore. These locations are witnessing the highest demand and appreciation
for residential property throughout the year.
