Growing demand for residential spaces in Bangalore

1. What are the factors that make Bangalore a hub for property investment?

Bangalore, for long has been a hub for education and employment that gave rise to both, commercial and residential investments leading to a consistent growth for over a decade. 

Migration to Bangalore is at an all-time high, with many people choosing to settle down in the city. Bangalore has strong macroeconomic factors working in its favour, which has resulted in a population upsurge. The city offers smart infrastructure with high employment opportunities in the manufacturing and IT sectors. Apart from these, the housing facilities in Bangalore have also mushroomed over the last decade.

Today, the city has emerged as a cosmopolitan city which is witnessing one of the fastest growth rates of any metropolis in the country.

2. Growth of residential sector in Bangalore?

The residential sector in Bangalore has seen an upswing in the first quarter of 2019, primarily in regions close to the locations where IT parks are situated. As per the report titled PropEquity Residential Real Estate Update for Bengaluru — Q1 2019, the North-East and South-East regions of the city maximum number  of new launches, majorly catering to the city’s working population in the IT sector. Many people also see the Bangalore’s real estate sector as the ideal place to invest in because it has a stable real estate market, growing price rates, and is devoid of any drastic price fluctuations.

3. Which areas are likely to see growth and why?

Within Bangalore, two of the best areas to invest or to live are off Sarjapur road and J.P. Nagar. Both of these areas are situated in the heart of the city of Bangalore and are premium localities which are still growing with many developmental projects coming up in the area. These areas are surrounded by areas such as Koramangala, Banashankari, and Bannerghatta road making its proximity to large I.T. parks and commercial hubs of Bangalore. 

4. What are the demands of the new age home buyers and how are realtors managing these requests?

The new age home buyers in Bangalore are not just keen on a good value proposition but are driven by the idea of sustainability along with new age designs. Interestingly most of them prefer to go for a property that is centrally located and has ease of access to basic amenities like schools, hospitals, commercial places, parks, play grounds, etc. 

The realtors have aligned themselves with this thought and have brought in a lot of modifications in their strategy to attract these home buyers. Both technological and sustainable initiatives have been incorporated to cater to the demands of the home buyers.

Spokesperson: Prashant Kankar, AVP Sales and CRM, Adarsh Developers