Demand for rental housing on Rise in Bangalore

Demand for rental housing on Rise in Bangalore

By siliconindia   |   Tuesday, June 24, 2014


Bangalore : Bangalore is estimated to be the top most active residential market in coming years. The demand for Rental housing in Bangalore stands as a witness for positive growth. Bangalore has gradually progressed in real estate markets. Presently, the demand for Rental Apartments or a flat in north and East Bangalore is more. For the last 5 years, the Residential projects for Rental housing are well distributed throughout the Bangalore. Bangalore has a vast number of locations with good infrastructure and world class amenities when compared to other cities. In Bangalore there is a high priority over 2 BHK and 3 BHK's Apartments with all comforts. So what is pushing up the demand for Rental Housing in Bangalore? In Bangalore 70% of land were occupied by knowledge based companies. Presently, the Bangalore economy is driven by IT and ITes. In Past, Present and future the rental housing will drive by senior IT/ITes which is concentrated in specified locations due to good connectivity with IT Hubs, Malls, Tech parks, Schools and National High way as well. We can consider this as one of the reasons for the revival of demand for Rental Housing in Bangalore. Several commercial organizations like Multiplexes, Restaurants, Super markets, Schools, malls is within proximity range will also be the major factor for increase of demand in this location. The high appraisal of property, Political environment, ongoing infrastructure, adequate supply of commercial space stood as a major reason for rising demand and rental charges. Mostly, the rent householders flock up a search of a dwelling place that is close to their work place. Due to limited availability of housings, the amount of floating population in Bangalore city and employment opportunities is another reason. The residential space is gradually morphed with Apartments, Flats, gated communities, Row houses and Villas. Some cosmopolitan locations which demands for Rental Housing are Koramanagala, BTM Layout, Marathalli, Sarjapur Road, HSR Layout and Electronic city, strewed with Luxurious Apartments with land scraped gardening, commercial establishments and array of requirements.

Follow SiliconIndia :