Growing demand for residential properties in the Silicon Valley

Bangalore also known as the Silicon Valley, because of its position as India's leading IT exporter is one of the fastest growing metropolitan cities in the country. The city has developed as a real estate giant in the last few years and with the increased settlements, the residential and commercial segment is prospering well in the city. Amongst the residential options, flats, row houses, villas, penthouses and bungalows are the most preferred options. A number of regions have emerged as hot spots in the last few years and some of these reputed localities are Whitefield, M.G. Road, Ulsoor, Indira Nagar, BTM Layout, HSR Layout and Malleshwaram. These are the top favorites of the investors, end users as well as the developers.

The investments in the IT sector have grown manifold, and Bangalore being the IT hub has reaped the most benefits out of it. Since the FDI policy was revised in the year 2005, the NRI segment was a major contributor to this boom. This largely impacted the real estate map in Bangalore and real estate started to change the look and the feel of the city. A large number of salaried buyers were witnessed purchasing property, according to the market trends and this helped developers to provide the kind of projects that the salaried buyers were looking for. The growth in the real estate sector is clearly visible as the commercial, residential and retail sectors are continuously scaling to new heights. New benchmarks have been noticed in the city for both rent and sale. The most apt indication of the growing real estate demand in the Bangalore city is the recent price trends that indicate appreciation in the prices of the residential apartments by 70% whereas in some of the hot locations the land prices have gone up by almost 100% which is a jaw dropping statistic.

If looking for residential property then one can choose from various segments of property that are divided into affordable housing for the salaried buyers, the premium housing  and luxury housing which targets the high income level group and the ultra luxurious housing units which specifically target the NRI's and the PIO's. 

Top reasons why you should consider buying a property in Bangalore City

You have been planning to buy that property, but unable to make up your mind. The reasons mentioned below must be sufficient inspiration for the same.

One primary target of the home-buyer must be to buy the right property at the right time and the right price. While all the other commodities or assets including automobiles remain more or less, property is an entity that is positively dynamic at all times. Every nine out of ten properties are susceptible to appreciate in a short span of time.

Among the locations that are deemed hot for investment in the real estate sector are obviously the metros including Bangalore and the National Capital Region. With the region of Hyderabad and its vicinities in a cloud of political uncertainty, investors have been rushing forth to the city of Bangalore in the south for making the proverbial hay while the sun shines.

It is therefore the pristine time for making an investment in Bangalore city and its outskirts, particularly for those who are keen of settling in Bangalore. Those who own a residence can also make an investment in real estate.

One of the primary reasons for which people must make a swift decision on the buying of a property in Bangalore is that with the completion of the next phase of Namma Metro, there is going to be a sharp escalation in the real estate prices. Properties can still be bought after this time period, but there is going to drastic rise in the prices and greater demand for real estate space.

The banking sector is furiously competitive and therefore loans in the housing sector are up for grabs. In order to spruce up the housing and the real estate sector, there have been sufficient initiatives from the Reserve Bank of India to encourage investment in the housing segment. Further, there is fierce competition among the nationalized and the private banks to attract more number of applicants for housing loans. Therefore, loans can be availed much easily than before so that investors can be assured of a source for the capital.

An additional factor that people have to consider is the increase in the rentals over a limited time period.  People who have opted to rent comfortable homes are paying rents that are higher than the EMIs for the housing loans for a similar flat elsewhere. In order to avoid paying higher rentals, people must opt to own homes of their own.

This works out to provide them with the much needed tax rebate on their salaries and thus provide the additional benefits. It may also be noted that the rate of interest on the housing loans significantly cheaper than all the other loans.

Buying a house in Bangalore is no longer considered a fad. House is another usable or an investment media like an automobile.

Lastly and importantly, it must be noted that the value of the houses are only going to appreciate irrespective of the market conditions.

The above mentioned aspects must be sufficient reasons for people to make an investment on a suitable house.

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Huge Demand for 2 BHK Flats In Bangalore

It is not hard to believe that Bangalore was once a pensioners’ paradise. Irrespective of the virtual implosion that the city has witnessed both due in terms of population and the vanishing of the once cherished green cover, the weather in the city has always remained salubrious.

Bangalore is now one among the largest employment driven city in the country and has been attracting job seekers from all over the world. From IT and its ancillary services, from rubber to real estate, the capital and the biggest city of Karnataka has been hosting all the possible industries.

The several employment opportunities have therefore driven the demand for residential space. There is therefore a proportional growth of both the commercial and the residential space in the city. The demand for residential space is driven by two sets of people. The first set are those who are seeking a shelter above their heads and the second are those who have made an investment seeking returns- short term rentals and long term resale value.

The demand for the smaller one BHK or the bigger three BHK apartments persist, but home-buyers across a cross section prefer to own a two BHK apartment. While people welcome larger space, the affordability is making the people pitch for the 2 BHK apartments even though the families are nuclear.

Further, the realtors and the home-buyers see a persisting demand for two BHK apartments in the days to come. It is therefore that people making an investment in real estate look to buy a two BHK apartment and generate rental income from it. The two BHK apartments are seen to give best returns after a period of ten years and thus people go forward with their pecuniary plans and are wishful that their investment plans see the light of the day.

Every one prefers a 2 BHK apartment since the investment that is vetted on the property is initially small. The investment made on a well provided two BHK apartment is deemed far better than a bare three BHK apartment. People have developed this tendency to walk into an apartment that has the features and the amenities since this is the need of the hour.

Very few people can actually afford a well furnished 3 BHK apartment that has been well furnished. This sort of affordability is still out of reach of the average working class family in the city. The rise of the two BHK apartments has also reduced the demand for independent houses. A steady increase in crime and robbery has made people seek security in place of comfort. The apartment complexes boast of the best security possible including CCTV surveillance that keeps such elements at bay.

Further, the apartment complexes come with all the facilities and amenities that are not possible in independent homes. The ability to access a swimming pool, gym, children’s playing area, nursery and the clubhouse all under a common roof is not possible in an independent house. These are facilities that must be individually sought for and attract huge sums of money.

Two BHK apartments are presently the crowning glory of the city of Bangalore!