Residential investment hotspots in BangaloreJuly 5, 2012 / By
Although the residential market in Bangalore is heading towards stability, there are certain locations in the city, such as the Whitefield surroundings, the area around the Hebbal flyover, locations in the Secondary sub-market, the Outer Ring Road and Bannerghatta Road, which are experiencing increased demand. This can be attributed to infrastructure developments, strong investment sentiment, the potential for capital appreciation, proximity to the city’s IT hubs and a well-established social infrastructure.
Bangalore, the capital of and largest city in Karnataka State, is now popularly known as the “Silicon Valley of India”. The city is regarded as a high-tech metropolis that is home to the offices and development centres of a number of mega software companies with wholly owned subsidiaries or joint ventures in Bangalore, among them IBM, Accenture, Wipro, Infosys, TCS, HP, Oracle, Cisco and Alcatel Lucent. Bangalore is also the location of the headquarters of many Indian software companies.
Bangalore’s residential market has seen unprecedented growth over the past few years and demand continues to be modest, spurred by a robust local economy, with more significant demand from end-users and investors supported by an optimistic economic sentiment. Further, the city’s residential growth has been driven by the robust IT industry and the rapidly growing ITeS sectors. In addition, the growing employment scenario, and the entry of investment buyers from other Tier I and II cities have acted as catalysts to increase demand for residential space in the city.
Residential apartments across the hotspots mentioned below will continue to see their capital values rise over the long term. The Whitefield sub-market is one of the fastest developing of the city, with major drivers having been IT- and ITeS-related developments. The upcoming Peripheral Ring Road and the Metro Rail corridor are expected to further improve the infrastructure and accessibility of Whitefield and its surroundings in the short term.
The projects close to the Hebbel flyover will likely witness significant demand due to the strong investment sentiment towards this location and the improving social infrastructure. The presence of well-established social infrastructure and good connectivity will likely drive demand for residential apartments along the Outer Ring Road, Sarjapur Road and Bannerghatta Road.
There has also been increased demand for high-end residential apartments in locations in the Secondary sub-market, such as Indiranagar, Koramangala, Jayanagar, the RMV Extension, RT Nagar and Malleswaram. These locations have long targeted HNWIs and senior management professionals who are employed in the nearby office catchment areas.
More on 'Residential' in 'India'
- Buyer preferences are reshaping India’s residential marketsApril 21, 2023
- How home inspections help quicken buyer decisions in IndiaMarch 16, 2023
- Surging land acquisitions in Delhi NCRFebruary 10, 2023
- Metaverse is transforming real estate and urban governance in IndiaNovember 9, 2022
- India’s residential market – a bouquet of offerings for each buyerOctober 21, 2022