Bangalore-Yet Again Making News of Expansion in Real Estate Sector
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Bangalore-Yet Again Making News of Expansion in Real Estate Sector

By siliconindia   |   Tuesday, December 24, 2013   |    4 Comments


Bangalore, the Silicon Valley of India has proven to be one of the most rewarding cities for the expansion and growth of realty sector in the year 2013. This city has recorded healthy figures of supply and absorption of residential units in several of its localities. As compared to other metropolitan regions, this city has evolved to be reckoned as a mature realty market with a domineering segment of end users and relatively lower levels of speculation in this sector. Latest to the encouragement for home aspirers and stakeholders in the construction domain; Bangalore is envisioned to accommodate a new area for the real estate development. As reported by The Hindu Business Line, the GVK Group, promoters of Bangalore International Airport Ltd (BIAL) are planning to develop pockets for realty development around the airport. The development planned around the airport is one of its kinds as a full-fledged airport city is proposed to be developed around this region. This development will accommodate pockets of residential localities, commercial zones, schools, higher education institutes, hospitals, and other community housing. Along with catering fresh options of habitation and occupation, this development will significantly aid the traveling passengers in Bangalore. Envisioning to turn Bangalore into an aviation hub, the plan to expand the realty sector around the airport will go in tandem with the expansion of terminal 1 of the airport. Once the orders for expansion of the airport are attained, the passenger handling capacity of this terminal will significantly increase. Furthermore, additional number of passengers and facilitative services right in the vicinity of this terminal will further accentuate the worth of Bangalore's realty sector. Along the way of expansion in the real estate sector, Bangalore development plans and expansion strategies have brightened the prospects of growth in the state's overall economic outlook. For instance, the appeal to reduce VAT on aviation turbine fuel will embolden the prospects of growth for aviation industry in Bangalore. Such growth would subsequently raise the demand of infrastructure assets and create more employment opportunities. In pursuance to the plans of expanding assets in Bangalore, the industrial and social infrastructure has upheld its pace to compliment other sectors of the economy. In the coming future, the expanding limits of the airport area is further going to add brighter prospects for the realty sector and its growth in Bangalore city.

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