Where to buy an apartment in Bangalore With a total population of over 10 million people,Bangalore is the third most populous city of India. As the city represents modern face ofdeveloped Indian economy its population has grown rapidly from a small figure of 5.1 million in 2001. Main reasons behind this huge growth is the cosmopolitan nature of the city and being a major IT hub of South India, the vibrant city invites people from far and wide. This in turn has leadto a huge demand for housing and urban expansion.
Where to buy an apartment in Bangalore Bangalore is developing in a radial pattern and its limits are expanding every year.One of the few Indian cities that actually have a walk-to-work culture, every centre of employment inBangalore has a residential micro-market around it where employees of these companies rent accommodation.These neighborhoods are self-sufficient as they have grocery and convenience stores andother amenities within walking distance.
Where to buy an apartment in Bangalore There are many pros and cons of living in Bangalore. The major problems residents face is shortage of potable water, erratic electricity, bad and chaotic roads and disposal of garbage. However on the brighter side the Metro train is up and running and the real estate market remains stable with many ready-to-move-in options available. This is where a good broker can help. Earlier people used to avoid brokers but now more than 60% of the total sales are trough brokers. Prominent brokers are PropTiger, India Homes, Network Ventures etc.
The new growth areas for Bangalore is scattered in all directions, North, South, West, East and Central.
Where to buy an apartment in Bangalore EAST BANGALOREA major hub for IT Parks & companies. Areas like Whitefield, Marthelly, Verthurare expensive but will continue to thrive on the back of increasing investment by the IT industry and the aerospaceSEZ being planned by the Government. With accessibility through Sarjapur Road & Outer Ring Road (ORR)the villas in Whitefield and Verthur have attracted great response. Also the projects on ORR are likely to see incremental sales on the back of residential projects nearing completion.
Where to buy an apartment in Bangalore NORTH BANGALOREIt remains much sought after with 60 to 70% of NRI investors investing in residences in areaslike Hebbal, R T Nagar etc. Being close to the airport and with vastly improved infrastructure these areas witnessed the highest appreciation in residential properties with moderate to luxury housing ranging from 30 lakhs to 30 crores.The potential for great capital appreciation remains high with the proposed high-speed rail link,the Hebbal - Yelahanka expressway, the elevated expressway to BIAL, the advent of the monorail besides the government having committed more than 300 crore to develop tech-parks.
Where to buy an apartment in Bangalore CENTRAL BANGALOREThe areas that enjoy a lot of popularity among renters and buyers are MG Road, Cunningham Streetand Brigade Road but finding an affordable house in these areas is quite difficult. Aside from these much sought after areas, there are quite a few other residential localities but very few residential units are available.
Where to buy an apartment in Bangalore WEST BANGALOREIs a prominent locality, which is a hub of Industries. The zone also comprises of few residential projects but the majority of the area is industrialized.
Where to buy an apartment in Bangalore SOUTH BANGALORESouth Bangalore has in the recent past seen a flurry of activities in the residential sector making it one of thefastest growing sectors in whole of South India. Bannerghatta Road, JP Nagar and Jayanagar witnessed sky rocketing prices. Electronic City, was identified for critical infrastructure development leading to the Hosur Expressway and is now home to Large IT campuses of Wipro, Infosys etc besides providing a variety of residential options. Though considered a little away from the city centre with Malls, hospitals etc 12 Kms away it is catching popularity because of excellent roads and the upcoming railway connectivity linking it to Whitefield etc. Ready residences close toIT Campuses are still available at affordable rates.
Where to buy an apartment in Bangalore So if you are looking to buy or rent a residential apartment, there are a lot of options fromaffordable to luxury spread in all directions. While Central and West Bangalore seems to have limited inventoryand those available would come at a premium. North Bangalore has much to offer but again is more expensive compared to the East & South. With many ready-to-move options, bargaining for an apartment close to your area of work seems to be the best bet. After all India’s Silicon City is a great city to live and work in.