Bangalore is now considered as the most sought-after IT destination in India, and consequently it has been one of the major hot spots for attracting many ITES and BPO organizations. Bangalore real estate trends are indicating tremendous growth, and the property prices in the city are soaring big time, be it the residential properties or the commercial building.
Prices of homes in Bangalore have increased largely in the last few months, thus making it very difficult for most of the residents to own a house in the city. As a result, renting a residential unit has proved to be a financially practical option, and also the property advisors are thinking that people will now favor to reside on rent/lease rather than buying a flat/apartment owing to rising property rates.
Being a prominent IT hub in India, the city has huge potential for the development of both residential and commercial properties. When it comes to commercial segment, usually office spaces have been witnessing massive demand as many companies are either expanding their business or shifting their base to Bangalore. This has been one of the major reasons for escalating Bangalore real estate trends in the present market.
The Bangalore real estate builders and developers are also able to cater to the needs of many investors by developing a competitive market for up-to-date office spaces. In past few years, even the retail sector has displayed enormous improvement in Bangalore.
Apart from being a major IT-hub in the nation, Bangalore has been well-known as “Garden City”, housing many beautiful gardens. The climatic condition in this part of India is also considered as one of the major reasons for attracting more and more outsiders to the city. So far, the garden city has been quite successful in compelling the attention of many multinational investors and NRIs (Non-Resident Indians).
As foreign investment is progressively increasing in the city, and also many Indian real-estate developers are challenging to sculpt a position in the international market, there is a huge requirement for international standard offices in the quickly flourishing city.
Such a massive boost itself talks about the increasing property rates, while both local and national developers target the city to assure the allocation of quality spaces at affordable prices. With reference to commercial spaces, the requirement is also growing at a fast rate in the city, and the major IT companies in Bangalore are now looking to move to the outskirts to save on operational costs.
Embassy Group operating in the city has recently launched Boulevard, which is just 12-kilometers away from the latest International Bangalore Airport on Bellary road. The lavish high-end villas are most likely to be completed by 2014. This upcoming project is expected to come at an estimated cost of Rs.1239Crores. According to present Bangalore real estate trends, the price of the each villa is anticipated to range from Rs.5.5 Crore to Rs.12 Crore, and each villa will be built in a land size that varies from 3,935 sq-ft to 7,310 sq-ft.
The well-known Brigade Enterprises operating in Bangalore is all set to introduce nearly 25-new projects in 2012 financial year at an estimated cost of around Rs.5000 Crores, developing an overall land area of around 20 to 25-million square-feet. Nearly 70-percent of the new projects will be residential, while the left over 30-percent will be a combination of retail, commercial office space, and hospitality. Their latest project Brigade Gateway has sparked a desire to own a piece of luxurious property right in the heart of the city amongst the high class investors, and Orion mall also happens to be a part of this magnificent project. Their recent launch Brigade Meadows on Kanakapura road is also selling like hotcakes at the moment, due to the pricing advantage.
Another big player, Purvankara is also coming up with new projects in all zones of the city including Skywood on the Sarjapura road, which is in close proximity with HSR Layout. Every square-feet of land in the city is all set to obtain a new and costlier tag, with a recent modification of land direction standards in the offering.
It is not likely to be a minute hike in the land price, but a radical jump is expected in the coming 4-years, ranging from nearly 20 to 30-percent inside the city, and to a mind blowing 100 to 150-percent in the outskirts, which were lately added to the latest Metro project, such as the Kanakapura road in South Bangalore, and Sarjapura road on the northern side.
Hot Properties to Invest In
HL Villas is an enticing villa project that we’d recommend you to invest in, and enjoy high returns over next 3-4 years, while we’d recommend Brigade Exotica and Gateway to those who’re interested in purchasing a prime property in North/East Bangalore around 1 crore budget.
But, if you have a dream of owning a villa in Bangalore under 50 lakhs budget, HL Villas is definitely the pick of the lot amongst budget villas in Bangalore.
Assetz Alcazar is yet another nice investment opportunity for those who are looking for something affordable near Dommasandra/Sarjapura road, around 30-35 lakh range.
The concept of Villament is also gaining tremendous popularity, and for those who want to buy a luxurious villament around that area, we’d recommend Mulberry Woods, located on the Carmelaram road, offering your amazingly posh 3000-4000 sq-ft duplex villaments at Rs 1.3 crores.
Salarpuria Sattva Greenage is an awesome deal if you’ve got 70-75 lakhs to invest on a property, and they’ve recently launched a new project called Senorita too, which again looks like a fantastic deal.
Brigade Meadows & Woodrose on Kanakapura are two more fantastic budget apartments that are worth your money.
Stay Away from These
Concorde Napa Valley is one place that you don’t want to invest in – those guys will make you run from pillar to post, and shouldn’t even dream of getting possession of your villa for next 4-5 years.
SJR Luxuria – There have been countless complaints, and recently one of the customers even filed a case in consumer court, and won it! They never complete the projects on time, and are simply not worth your money.
Suraksha Golden Palms (Bannerghatta Road)
The property is fairly good, but the builders and their marketing team hasn’t got the etiquettes to deal with customers, and we wonder how they’d treat the residents after selling off all the apartments! Definitely a big no! Our editor had booked a 3BHK duplex here, but canceled it due to their rude behaviour and unreasonable demands (such as taking finance only through their channels, flaws in agreement such as possibility of constructing more units in future, which may reduce your absolute land share etc).