The real estate sector in India has been going through several changes over the past couple of years. This transition phase has brought in new regulations and reduced the number of unorganised players. It has also shown stability in terms of growth. The Bengaluru market has been one of the few real estate markets in the country that is growing steadily in the commercial and residential space. If you are buying or investing into property, here are the things you must know about Bengaluru Real Estate Market in Bengaluru :
- A survey conducted by PricewaterhouseCoopers and Urban Land Institute, a non-profit research organisation. They have ranked Bengaluru as the top investment bet in Asia in 2017.
- The government has proposed a single-window system, and an online service to clear applications for middle-class homebuyers. The government wants to make the approval process for small buildings units easier, and, in the long run, make the process faster for high-rise buildings, too.
- Manufacturing hubs, SEZ and IT parks have ballooned in the city. Areas such as Peenya, Malleshwara, Hebbal and Marathahalli have seen an increase a spurt in real estate activities and also prices
- Residential projects with the highest ROI have sprouted up in areas of Yelahanka, Hennur, Hebbal and Whitefield.
- Bengaluru is a student city and with its widely ranked educational institutions around the city coupled with ample job opportunities, the areas of Electronic City, ORR, Whitefield and areas of North Bengaluru are showing great potential.
- The metro lines have caused a boost in the areas which have the lines running through them.
- Areas parallel to Hebbal such as Jakkur are also seeing good appreciation. Jakkur is a flourishing location and is well equipped in terms of social infrastructure and civic amenities. Buyers have countless options of residential plots, apartments as well as villas in Jakkur. The locality has witnessed and ROI of 8-9%.
All these factors are keeping the market in Bengaluru buoyant and prosperous.