Real Estate in Bangalore has been in great demand ever since IT and BPO companies started shifting here. However, real estate is in a very good state now, especially because there are a number of smaller companies also that are looking for office spaces, which again increases the demand for residential property.
Let’s break down the real estate growth in Bangalore according to areas and reasons for their progress:
As far as residential real estate is concerned, some of the fastest growing and best performing areas are the Hebbal, Sahakara Nagar and R.T. Nagar areas in North Bangalore. There is great demand in residential property in these areas because of:
Good infrastructure, great luxury residential projects
Closeness to the BIAL (Bangalore Intl. Airport)
Great connectivity to other areas in Bangalore
From Indiranagar which is owned by most of the defence personnel, to Sarjarpur and even Whitefield, this is one of the medium-sized posh areas in Bangalore. Most people who need luxury at a medium price are attracted because of
Commercial and residential mix
Closeness to ITPL
Connectivity to IT parks
The beauty of Old Bangalore is in areas like Sadashiv Nagar, M.G. Road, Victoria Layout, which no doubt constitute the most costly residential areas in Bangalore. This areas is however, in great demand because of:
Closeness to Sankey road and Bellary road which are commercial areas;
Closeness to elite institutions such as Microsoft Research India, Indian Institute of Science, etc.
Some growing real-estate destinations are Tumkur Road, Vijayanagar and Magadi Road in West Bangalore. The demand in these areas is increasing because of:
he developing Metro line, which will provide enhanced connectivity.
Koramanagala is an area that comes by definition in the South of Bangalore. It has a huge number of startup companies, and it’s reasonably close to the Outer Ring Road where the E.G.L IT park is. No matter what how volatile the real estate scene is, this is one area that has remained stable. The areas near Kanakpura Road also have been seeing development because of the Metro. So South Bangalore is increasing in popularity because of:
closeness to the E.G.L and NICE Road (The Bangalore-Mysore Infrastructure corridor)