Bangalore remains one of the healthiest real estate hubs in the country. The unsold inventory overhang here is much lesser when compared to cities such as Mumbai and Delhi National Capital Region. Buyers and developers only feel positivity when it comes to this city. Why is this city inspiring so much positivity with buyers when bigger cities are failing? What are the factors which are driving real estate growth here? What is the real estate sector doing here that is yielding good results? Let’s have a look at what’s going right with Bangalore.
Bangalore is the capital city of the southern state of Karnataka. It is the third most populous city in the country. It was for a long time considered to be a quiet city which was ideal for those in their golden years. It has a great climate and is known for its gardens.
So how did this quiet city become the power house that it is today? Well, the major thrust for real estate growth here came from the Information Technology (IT) and Information Technology Enabled Services (IT) sectors. The city possessed the right kind of talent and the economic conditions for these sectors to thrive. Once the IT/ITeS companies started establishing their bases here, the demand for residential real estate also picked up. Since there are employment opportunities available there is a constant flow of people coming in to the city. They all need to be housed. Hence there is demand for homes in Bangalore and also there is demand for apartments in Bannerghatta road, which is bit away from the city but attracts most of the people.
Besides being the “Silicon Valley of India”, the city is a haven for the start-ups of the country. It is also home to many of the country’s foremost scientific and defence organisations. So even if the IT sector goes through a slump, the other employment providers will be able to shelter the real estate sector for a while. This is not to say that the real estate sector will not face a slump when the IT/ITeS companies go through tough times and freeze hiring. This is one the downfalls of putting all your eggs in one basket.
Most of the IT/ITeS companies are located in the southern part of the city. The micro markets in the southern part of the city have become a strong hold of those employed by these companies. Besides the presence of employment opportunities, there is a solid presence of social infrastructure such as malls, hospitals and educational institutions.
Sarjapur Road is a micro market which is located in the southern part of the city. It is a mix of commercial and residential real estate options. S2 Avenues by S Homes is a project which is located in this micro market. S2 Avenues offers land to buyers. S2 Avenues is currently priced at INR 39.22 lakhs. If you are looking to invest then buying a parcel of land at S2 Avenues by S Homes can turn out to be a good decision. If you are looking for a property for immediate end use then an apartment might be a better option.
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