Upsurge of Mid income Projects in Bangalore areas

Upsurge of Mid income Projects in Bangalore areas

By siliconindia   |   Friday, January 23, 2015


Bangalore is one of the fastest growing cities in India, which houses a multi cultural population by offering best educational institutions and job opportunities. Both in terms of infrastructure development and real estate demand the Bangalore city is taking a huge leaps. Experts say that the Information Technology is the major growth factor for this incredible expansion of the city and real estate development.

In addition, the government has taken an initiative to build Information technology sector on an immense scale to offer best employment opportunities and to improve social infrastructure. Due to this reason many newer residential and commercial spaces are emerging. To offer the best accommodation facilities to the migrating IT professionals, many developers are adapting mid level segment projects in the best residential areas which suits their budget. Mid level Apartments/flats are gaining utmost demand in Bangalore areas.

After South Bangalore, East Bangalore is emerging as a promising residential and economic hub. Due to launch of the metro projects, Infrastructure development and arrival of the International Airport, real estate in North Bangalore is moving in fast pace. East Bangalore and South Bangalore are witnessing a high demand for residential properties from potential home buyers. The East and South localities are experiencing a persistent demand from mid income segment housing due to its improved connectivity, good social and physical infrastructure and proximity to the major commercial hubs.

The areas witnessing the rise in mid income housing projects targeting professionals working in IT/ITES are Electronic city, Whitefield, Kadubeesanahalli, Bellandur, ITPL, Hennur Road, C V Raman Nagar, Krishnarajapuram Marathalli, Varthur Road, Kanakapura Road and a few other areas in North Bangalore. The per sq ft varies between Rs 2800 to Rs 5500.

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