Satyajit Misra, a software engineer soon re-learnt an age-old adage: Home is where the heart is. After years of living alone as a paying guest, he realized there is nothing better than a home he can call his own. He recently persuaded his wife and mother in Orissa to move to Bangalore. Not only is he content of staying with his own family, but he also lives closer to his workplace.

Misra is not alone in this situation. Scores of IT professionals are coming to Bangalore. As the influx of returnees increased, so did the real estate market in Bangalore. A city known for its Anglo-Indian villas since the early70s, is presently witnessing a high-rise building culture. Recently, an international magazine rated Bangalore as the twelfth loveliest city to live, considering its growing cosmopolitan culture, and of course the weather and the IT growth—an industry which is the primary driver for residential space in the Silicon Valley of India.

A majority of this demand is generated by a large number of tech-professionals moving into the city. Most IT professionals in Bangalore today prefer living closer to the IT corridor. In fact, these suburban plots are selling fast and rapid construction is visible in the south of the city. This most preferred part, which now extends further to the Southeastern belt of the city, is where the IT corridor stretches between Whitefield and Bannerghatta Road.
While Bannerghatta is expanding with the apartment cultures, Whitefield is catching pace with the completely furnished Western villas. With its techie-population, “the city is virtually a paradise with a mix of housing structure and cosmopolitan culture,” say realtors.

However, the lucrative market areas of the city, like Sadashivanagar and the vicinity of M.G. Road, have seen a decline in residential development activity due to the shortage of land available for development. Even then, these areas continue to command the highest prices in the city.

Residential properties in Bangalore are the lowest compared to other major cities in India. Most buyers are executives of IT companies who prefer to live in the more affordable areas located in the central parts of the city, like Cunningham Road, Langford Town, and Richmond Town among others, with budgets ranging from $44,444 to $88,888.