Bangalore real estate show signs of expansion again
Tagged as the Silicon Valley of the nation, Bangalore has come of age with time. In comparison to other cities, Bangalore has emerged as one of the most rewarding townships, citing growth and expansion of the realty segment in 2013. Much to the anticipation of the property consultants, the real estate sector of the city has a number of goodies in its bag for the year 2014.
Healthy figures of absorption and supply of housing units have been recorded in various localities of the city in 2013. In comparison to other metropolitan regions, Bangalore evolved as a mature real estate market in 2013, with end-users playing a key role. Market experts speculate that real estate investors in Bangalore in 2013 are likely to gain fruitful returns in 2014.
New area for realty development
As per market news, the city is envisioned to propose a new area for realty growth. GVK Group, the authority at helm of the Bangalore International Airport Ltd (BIAL), is all set to develop new pockets near the airport region and give the real estate sector of the city a kick-start.
The development planned near the airport area for a full-fledged airport city is likely to give the much needed boost to the realty sector. The development will include commercial zones, schools, higher education institutes and residential localities.
Once the expansion orders for the region near airport is attained, the passenger handling capacity of the terminal will rise a few notches up. Increase in the number of passengers and facilitative services will further jack up and draw attention to the realty sector of the city.
Other expansion plans
Bangalore’s development plans and expansion strategies have brightened the prospect of development and growth of the overall economic outlook of the state. The proposal to reduce VAT on aviation turbine fuel will strengthen the prospects of growth for the aviation industry in the city. This, in turn would eventually raise the demand for infrastructure assets in the city.
Plans for expanding assets in Bangalore and upgrading the social and industrial infrastructure will further compliment other sectors of the economy along with real estate.This would encourage home aspires and stakeholders in the realty segment domain and brighten prospects for real estate sector in the city significantly.
