Over a decade, Bangalore has become the IT hub of India and also known as the Silicon Valley of India. This is due to the fact that the growth of IT and manufacturing sector has made Bangalore real estate as a prospering business. The top 10 cities in India are witnessing a poised growth in real estate inclusive of Bangalore joining the bandwagon of India’s real estate burst. Since many MNCs and home grown companies are setting up shops in Bangalore, it provides great employment opportunities to people from different cities in the country.container house
Thus, Bangalore real estate is always on a growth trajectory phase. The large floating population who migrate from other cities to Bangalore for employment end up in high paying jobs that in turn revolutionize the dire need of residential properties in the city and also made property prices skyrocketing overall. This tremendous growth is not only restricted to residential properties but also for commercial real estate in Bangalore as well.
The real growth drivers of Bangalore real estate are IT, ITES, SEZs and manufacturing industries on a whole. The growth of double income families, multi cultural population and global lifestyle trends are making Bangalore city, the real hot spot of real estate destination in the country. In recent years, there seems to be an increase in environmental awareness among corporate fraternities creating a huge demand towards green buildings. Most of the IT and IT enables service companies are willing to set up green concept in order to counteract various environmental issues using different available green technologies in their buildings. Today’s real estate buzz is to construct affordable housing catering to different section sin the society due to government of India’s recent initiatives during budget session. Thus, the big players in Bangalore real estate industry are vying to capture its own share in this ever-growing segment like: TATA Housing. Purvankara, confident Housing, CMC etc.
The real boom in wages and earning potential of the people has driven the upsurge in the residential real estate market in Bangalore Property. Thus, the real estate players are constructing houses with ultra –luxury modern styles that comprises of Wi-Fi enabled, intelligent housing, boom gate, billiards court,prefab house
badminton, fitness clubs, children’s park, swimming pool, table tennis court, modular kitchen, modular bathrooms, earthquake resistant systems etc. along with state of art interior designs that surpasses the international remarks on a whole. With the rise of mall culture and ultra modern lifestyles has led to the growth of organized retail in Bangalore commercial properties market. The large multinational retail players are flocking to the city to reap the benefits overall. And also, there is a dire need of commercial properties in Bangalore due to increase in construction of malls, multiplexes, hotels, theme parks, pubs, offices, pubs etc. Thus, Bangalore real estate demand also is growing at a greater heights and it has become the retail hub of the country.