Bangalore has since the 90’s been touted as the IT hub of India. The city represents modern face of developed Indian economy and is also home to a large number of people who have migrated from other states to Bangalore and owing to this reason, real estate market in the city has shown a positive trend.
The growing number of corporates in the city creates demand for residential real estate and makes the city as one of the best places for investments. Let’s look at the three vital reasons which make Bangalore ideal for investment in real estate.
Growth in IT/ITES Industry creating employment opportunities: The ever growing IT/ITES sector creates job opportunities which lead to a lot of people migrating to the city. There are approximately 0.95 million people working in about 2480 IT/ITES company in the city. The city creates about one lakh jobs annually.
The working population with an average age of 28 years is educated and multi-cultural. The rising income levels, educational facilities and global exposure have raised the living standard of the city.
Improving Infrastructure Promotes Development: The government initiative of improving infrastructures rapidly supports the real estate developments. The government of Karnataka is working towards making many corridors that support real estate developments.
Bangalore is experiencing positive trend all over with evident development across both public and private sectors, especially in the road transport. The improvement in road network through ORR (Outer Ring Road) has changed the dynamics of the real estate market of Bangalore.
Increase in Capital Value: Mid-segment residential properties witnessed the highest appreciation in Bangalore in the past three years, says a study. In the high-end properties market, Bangalore recorded 37 percent average increase in capital values in the period between 2011 and 2014. In the hot property areas, ORR tops the list.
Durga Petals is an upcoming project from Durga Projects and Infrastructures Ltd in the prime location of Marathahalli Outer Ring Road. Spread on 5 acres of land, Petals boasts of 7 luxurious sky soaring towers with each having 13 storeys. And that’s not all; it also has a club house and various other recreational amenities.
For more details on the project, please visit http://www.durgaprojects.in/petals/ or call +919019555777.