Bangalore has emerged as a popular destination for real estate investment in recent years. The city is synonymous with a thriving startup ecosystem, multinational corporations, and a strong information technology hub. Moreover, Bangalore is a melting pot of diverse cultures, offering a rich history, vibrant lifestyle, and picturesque greenery. With a steady appreciation of real estate prices, competitive pricing, robust infrastructure, and ample leisure options, Bangalore has become the ideal city for apartment buyers. In this article, we will explore in detail why Bangalore is the perfect place to invest in an apartment.
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Thriving Job Opportunities and IT Hubs in Bangalore
Bangalore is a leading IT hub that has attracted some of the best IT professionals from around the world. With the presence of companies like Google, Microsoft, Wipro, and Infosys there is never a dearth of IT jobs in the city.
Apart from IT companies, Bangalore is also home to a range of multinational corporations. Top companies such as Amazon, IBM, and Accenture have their offices here. That’s not all! The city boasts of a thriving start-up ecosystem, which is fuelling innovation and job creation.
Bangalore provides a creative and supportive environment for entrepreneurs to turn their innovative ideas into successful businesses. It also provides exceptional networking opportunities for startups, which could be a great starting point for new businesses. This is one of the main reasons why there are more people looking to buy apartments in Bangalore.
Rapid Infrastructure Development of Bangalore City
Being one of the fastest-growing cities in India, Bangalore has witnessed a rapid transformation in its infrastructure development over the past few years. The city’s robust IT industry and global presence have significantly accelerated its growth trajectory.
Efforts to build 270 km of roads and around 127 km of metro are all at various stages of development in the city. The metro rail project has brought a significant change to the public transportation infrastructure in Bangalore, which has greatly reduced the traffic congestion in the city. The Bangalore Metro Rail Phase 2A between Silk Board Junction and KR Puram is under construction. This is expected to reduce travel time from Bellandur to KR Puram by 50 minutes.
The Metro Phase 2B project is a 17-station ‘airport-link’ segment of the Blue Line that is currently under construction. It runs from KR Puram to Kempegowda International Airport (KIA) in Devanahalli. Starting from Kempegowda International Airport, the route includes Devanahalli, Yelahanka, Hebbal, KR Puram, and further connects to Marathahalli, Bellandur, and Silk Board.
The construction of flyovers, underpasses, and widening of roads has dramatically transformed the city’s traffic management, making it more efficient. The upcoming Satellite Town Ring Road (STRR) is expected to benefit the industrial and logistics industries since it will simplify the distribution and delivery of goods to Karnataka’s interior. This six-lane corridor will pass through three districts in Karnataka (Bengaluru Rural, Bengaluru Urban, and Ramanagara), as well as one district in Tamil Nadu (Krishnagiri).
Another important development is the Peripheral Ring Road (PRR), whose growth would significantly affect the Yelahanka-Kogilu-Jakkur regions . This 8-lane, 74 km PRR will connect Tumakuru and Hosur roads through Hessaraghatta Road, Doddaballapur Road, Ballari Road, Hennur Road, Old Madras Road, Hoskote Road and Sarjapur Road.
Additionally, initiatives such as smart city projects and improvements to water supply systems have vastly improved living standards in many neighbourhoods. All these efforts towards infrastructural transformation have helped position Bangalore as an attractive destination for businesses and entrepreneurs looking to expand their enterprise in India.
Educational Institutions and Student Population
Bangalore has earned a well-deserved reputation as an educational hub with its world-renowned universities and institutions. The city boasts some of India’s best engineering colleges, the Indian Institute of Science (IISc), the Indian Institute of Technology (IIT) and the National Institute of Technology (NIT). The city is also home to prestigious management institutes such as the Indian Institute of Management Bangalore (IIMB). Additionally, there are several other specialized institutes in areas such as design and hospitality that attract students from across the country. Not only does Bangalore have exceptional academic programs for higher education, but it also has numerous quality schools for primary and secondary education, making it an ideal place to grow up for those focused on pursuing their academic interests.
With a rising population and robust economic growth, more people are moving to Bangalore for better educational facilities and employment opportunities. This influx of people has created a high demand for apartments, driving up real estate prices considerably.
Pleasant Climate and Cosmopolitan Lifestyle in Bangalore
Popularly called the ‘Garden City’, Bangalore is renowned for its pleasant climate. In fact, the city is located at a height of over 3,000 feet (914.m) above sea level, which is above Dehradun (630 m). This allows Bangalore to receive more rainfall and experience cooler temperatures, all year round.
With the presence of many global IT companies, the city has become a hub for skilled professionals from different parts of the world. Consequently, it has a cosmopolitan lifestyle with a diverse population of people from different ethnicities and cultures living together in harmony. This has led to the city becoming a melting pot of food, art, music, and culture, making it a fascinating place to live and explore. The blend of favourable weather, diverse culture, and exciting opportunities in Bangalore makes it an ideal place to live, study, and work.
Bangalore boasts of numerous apartments with large, open spaces and surrounded by lush greenery, making the perfect investment option for homebuyers.
Growing Demand for Residential Properties in Bangalore
The Silicon Valley of India has witnessed a surge in demand for residential properties, especially apartments in recent years. Bangalore’s growth as a hub for various industries, including IT/ITES, biotechnology, and aviation, has attracted professionals and entrepreneurs from different parts of the country and even abroad. Many IT companies have established their offices in the city, creating considerable demand for apartments. The city’s proximity to tech parks and the easy availability of other amenities such as schools, hospitals, and shopping centres is another incentive for many people to invest in residential properties, particularly apartments in Bangalore.
The locational advantage of Bangalore also plays a vital role in the rise in demand for apartments in the city. Bangalore is well-connected to other parts of the country via rail, road, and air. The presence of the International airport and the upcoming metro rail projects has significantly enhanced the connectivity of the city. This has made Bangalore an attractive destination for people looking to relocate in search of better job opportunities or a better standard of living.
Additionally, the city’s cosmopolitan culture, pleasant weather, and excellent education and healthcare facilities make it an ideal place to settle down. These factors have contributed to the rise in demand for apartments in Bangalore. The city’s real estate market has been experiencing a sustainable demand for affordable and premium apartments, making it a lucrative investment option for many homebuyers and investors. With the ongoing expansion of the city’s infrastructure and an ever-increasing demand for apartments, Bangalore’s real estate sector is expected to witness further growth in the coming years.
Bangalore’s population has been on the rise in the recent past. According to recent estimates, the city’s population stands at over 13 million people , and it’s expected to rise even further in the coming years. This consistent surge has led to a significant increase in demand for apartments and infrastructure development, leading to an appreciation of property value.
Availability of Luxury Apartments and Gated Communities in Bangalore
Given that Bangalore is known for its modern infrastructure and cosmopolitan lifestyle, it is no surprise that luxury apartments and gated communities are among the most sought-after residential options in the city. These exclusive properties come equipped with top-of-the-line amenities such as sports facilities, clubhouses, swimming pools, spas, and more.
The architecture of these properties showcases the latest design trends and caters to residents who seek a luxurious living experience. Gated communities offer a sense of safety and security, where residents feel comfortable letting their children play outdoors or go on walks alone. Additionally, they often boast of green areas like parks or landscaped gardens that provide a peaceful respite from the busy urban environment.
For those looking for top-notch accommodations in Bangalore, luxury apartments and gated communities are definitely worth exploring.
One of SOBHA’s renowned projects, inspired by Spanish architecture is SOBHA Galera. These 4-bedroom duplex and triplex row houses are created to provide you with extraordinary luxury and unrivalled convenience.
SOBHA Townpark, near Electronic City, is another iconic project that is centred around the lifestyle of New York. Named after the boroughs of this mega city, SOBHA Townpark houses SOBHA Manhattan Towers and SOBHA Brooklyn Towers. Now, you can live life, the NYC style right in Bangalore.
An architectural homage to the traditional English way of life is SOBHA Oakshire. These four-bedroom row houses have gabled steep roofs, timber & brick construction, and elaborate windows. Tucked away in the peaceful locale of Devanahalli, these homes are crafted for the discerning few.
Investment Potential and ROI of Bangalore Flat Properties
Bangalore’s real estate market is developing, and there is a growing demand for both commercial and residential buildings, primarily apartments. The city provides better living conditions as well as greater career chances. Bangalore has made massive progress in terms of technology, transit, connection, upscale facilities, etc.
The professionals who relocate from various regions of Karnataka and India in a quest for better employment and a higher quality of life are the major source of the increasing demand for apartments. Bangalore offers its residents a high quality of life by providing the greatest possible healthcare, education, and leisure opportunities.
The residential market in Bangalore offers both monthly rewards and capital growth. The rise in the number of young people moving to Bangalore for work or school tends to be the main driver of the city’s rental demand. The investor is guaranteed renters and a substantial monthly income in the form of rent by investing in quality apartments.
According to reports , there has been a dramatic increase in property values and rental yields in seven major cities over the past five years. Average property prices in Bengaluru and Hyderabad have increased by 10% during the last five years. According to data, the average price of a square foot of real estate in Bengaluru was Rs 4,894 in 2018 and rose to Rs 5,570 in 2022.
Supportive Policies and Regulations for Flat Buying/ Selling in Bangalore, Karnataka
The real estate industry was somewhat impacted by the pandemic epidemic. As workers moved back to their hometowns and prospective purchasers held off on purchases, the real estate market in all the major cities weakened. Construction on ongoing projects was also halted because of the lockdown.
The Karnataka government then revived the real estate industry. It was then decided that the stamp duty rate on houses costing between INR 35 and INR 45 lakhs will be reduced from 5% to 3%.
The Bruhat Bengaluru Mahanagara Palike (BBMP) has launched an e-Khata or e-Aasthi developed by the state’s e-governance department and NIC (National Informatics Centre). This would assist property buyers in uploading all property papers and their Aadhaar numbers online to apply for Khatas. Within a month, the digitally signed Khata certificates will be produced and distributed to property buyers.
How Can You Apply for an e-Khata?
An e-Khata application can be submitted in any of the following ways:
- You can manually apply for an e-Khata by going to a nearby Bangalore One centre.
Or by visiting the SAKALA website and entering your PID number, you can also submit an online application for e-Khata. - Fill out the e-Khata application form online and include any supporting documents, such as a sale deed, an encumbrance certificate, an ID card, etc.
- The application will receive a SAKALA acknowledgement number after it has been processed. After which you’ll receive a digital signature. Finally, you may download the e-Khata.
- In the event your application gets rejected, an officer will contact you and have you submit the documents once again.
Must Read: Difference Between A Khata and B Khata Properties
Final Thoughts
Bangalore appears to be simply waiting for you if you’re in the pursuit of settling down in one of the most vibrant cities that boasts of a pleasant climate all year round. You may also discover a world of individual villas or beautifully themed apartments with numerous amenities and high-end facilities, amidst verdant surroundings.
Real estate developers have been encouraged by the multiracial population to invest in developments with characteristics designed to meet the ever-growing needs of homebuyers. The demand for residential developments has also increased because of the number of students that come to Bangalore for further education and internships at some of the biggest IT businesses in the world.
One can choose from the numerous neighbourhoods in Bangalore. Be it Electronic City, Panathur, etc. on the southeast side, Hennur, Devanahalli on the north and northeast side or Banashankari on the south.
To find your perfect home in SOBHA, write to us at [email protected]. Explore a wide range of apartments for sale in bangalore and book a site visit with us at 080 4646 4500.
