Bangalore’s property market: A sneak peek
IT has always been the key driver for pushing the realty market of Bangalore to climb up the tree of success. However, bleak economic condition and slow-paced hiring in the country raises the question- Is investing in properties in Bangalore still lucrative? The answer can be found in market statistics and reports, which confirm that in the last decade properties in the city have been marked up by 100-200%.
Property analysts further corroborate that in the coming two-years, 20-25% return on investment in Bangalore’s real estate is a sure bang for the back. Investing money close to IT locations (such as Electronic city, Whitefield, Bangalore East and Hennur Road) have always turned out to be a fruitful venture. Furthermore, statistics confirm that properties adjacent to IT corridors have appreciated by 500% in the last decade.
Tumkur Road- Defining Bangalore’s real estate
The IT hub of the nation is all set to change with the proposed Mumbai-Bangalore Industrial Corridor along the Tumkur road. For the last few years, Tumkur road and its adjoining areas have been subjected to a number of enhancement and improvement programs that have been proposed to give prominence to infrastructure and better connectivity.
Bangalore-Mysore Infrastructure Corridor, Elevated Expressway and Bangalore International Exhibition Center (BIEC) are some of the recent infrastructure projects in the area that have seen the light of day. In addition, few other proposed and ongoing infrastructure projects including Peripheral Ring Road and Metro Rail Phase 1 and 2, will add to the overall physical credentials of the region.
The growth of social infrastructure in the region caters to the rising demands of the residential population in the region. Upcoming infrastructure projects in Tumkur road will fuel realty developments and unlock the huge industrial land parcels in the area that stands fit for integrated projects.
With the Mumbai-Bangalore Industrial Corridor coming into play (the much needed economic driver), the demand for asset classes namely commercial, residential, hotel, office and industrial-infrastructure will shoot up.
Metro Rail set to change Bangalore’s Realty scenario
The Bangalore Metro Rail project, locally termed as Namma Metro, has been eyed as the tool that will turn the tables for Bangalore and will promote inter-connectivity between different areas of the city thereby lessening traffic congestion.
Phase 1 of the Metro Rail, which runs at a total length of 42.3 km, is aimed at cutting down the commuting time and offer connectivity at its best. Improved Connectivity and less time taken on travelling are the two main factors that stick out as the key reason for growth of any area in a city and Bangalore has come up in this category with flying colors. With the completion of Phase 2 of Metro Rail project, all the localities falling in the BMIC corridor will witness unprecedented growth in the days to come.
For investors who are limited with a budget of Rs 50 lakh, Hoskote and Old Madras Road are the perfect locations to bid for. Apartments for the middle-class within Rs 25 lakh can be availed near Doddaballapur road, Mysore road and OMR.
Sarjapur has become a common term for people looking to invest in gated community projects. The locality boasts of connectivity and higher appreciation in the forthcoming days. The joint venture with the Japanese Government to structure an industrial corridor between Chennai and OMR, Bangalore further acts as a crucial factor that is expected to change the landscape of the ‘Garden City’ entirely.
