Bangalore is the capital city of Indian state of Karnataka and is also famous as the " Silicon Valley of India". Today, it is one of the fastest growing cosmopolitan cities in Asian continent and hosts some of the most high tech industries.
It is the fourth most growing city in the country and is home to some of the best IT companies like Infosys, Wipro to name a few. The city also has nearly 40% of the total companies in the field of biotechnology. Infrastructural and high economic growth in the last few have set the real estate prices soaring high.
Residential Real Estate Residential properties in the city are witnessing rise in prices due to an imbalance in demand and supply. Areas such as Richmond Town, off MG Road, and Cunningham Road have high prices due to scarcity of land.
Developers are undertaking various projects like high rise residential building, apartments, condominiums to accommodate the rising population and their changing lifestyle. With Bangalore becoming the IT hub, there has been an increase in the working population, which has further created a pressure on demand for properties.
Bannerghatta Road, Kamnakpura Road, and Bellary Road are some of the areas where land is available at affordable prices, due to ease of availability.
Commercial Real Estate The commercial property prices in the city have risen considerably in the last few years. However there has been a downfall in the commercial property rentals owing to the imbalance in demand and supply and also due to lack of infrastructural growth.
Industrial Real Estate The real estate investment market in the city has grown rapidly in the last three to four years. Average return of around 30% per annum in the sector in the last few years has attracted huge investments from various investors, both global and domestic.
High net worth individuals (HNI), private equity funds and now the foreign direct investments (FDIs), realty fund companies are some of the major players who have invested in realty in the city.
The city is considered to be manufacturing hub of various heavy industries in the public sector. This includes
- Heavy equipment
- Machine tools
Post Indian liberalization in the 1990s, the city has seen immense success in the field of software development and information technology. It is popularly known as the "Silicon Valley of India", with nearly 40% of the total software exports from India.
Real Estate Developments Developers are building and undertaking various projects keeping the NRIs in mind. Residential properties like high rise building with all facilities are being constructed.