Bangalore’s Developing Real Estate Scenario
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Bangalore’s Developing Real Estate Scenario

Bangalore is the 5th largest and one of the fastest growing cities in India. Officially renamed as Bengaluru, the city has become a hub for myriad thriving IT and non-IT sector companies over the last few years. Thecity has seennumerous developments and continuous progress in terms of economic and social infrastructure. This has shown its effect in the growth of Bangalore real estate scene too.

Due to the rapid growth of numerous IT companies in the city, Bangalore is now being referred to as the Silicon Valley of India. Many domestic and multinational information technology companies have established themselves in the city, which has opened numerous job avenues for the working professionals. Some top notch companies such as IBM, Accenture, Dell, Wipro and Oracle, to name but a few have increased the job prospects of the city and thus the demand of real estate too. Young professionals who work in the city often look for affordable residential property in Bangalore-whether on rent or in ownership. Developers are cashing on the situation and coming up with myriad low cost projects that offer 1bhk flats to such young working class. Investors are buying thee affordable flats and giving them on rent, thus earning high ROIs.

The growth of IT sector is the major factor in the growth of real estate market in the city. Many companies have set up their base in the eastern region while some others are expanding towards the northern and eastern parts of the city too. Thus, real estate developers are busy with upcoming projects in almost all corners of the city.

Bangalore houses some of the best schools and colleges in India, which is luring many families with young children to shift their base to Bangalore. This has grown the demand for residential property in Bangalore where small families prefer living in 1 or 2bhks instead of big luxurious apartments. The real estate market of Bangalore has grown on an average of 5%.Currently, several infrastructure projects such as road development, civic infrastructure and others are under way, which are sure to keep the city’s real estate scene robust.Areas of Outer Ring Road, Whitefield, Electronic City and Old Madras Road are much in demand owning to their high-end realty ventures, promising infrastructure and reputed IT firms. Eastern Bangalore has seen spearheading development for over a decade now with the presence of many IT parks, shopping malls and high end residential projects. It is a preferred destination for investors and homebuyers.


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