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 seen a booming trend. The growing number of corporate 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 2500 IT/ITES companies in the city.The city creates over 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 standard of living for this 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 these 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 about a 40 percent average increase in capital values in the period between 2011 and beginning of 2015. In the hot property areas, Outer Ring Road tops the list.
For more information on investing in Bangalore’s booming Outer Ring Road, visit us at our Experience Centre in Doddenakundi or click on www.durgapetals.in