Bangalore Witnesses More Residential Demand

Bangalore: The transformation of landscape is one of the significant changes the country has witnessed over the years. This means, cities have started expanding its limits and areas which were once categorized under suburbs and have now become prime areas receiving maximum demand. Similarly a metro like Bangalore is also changing at a fast pace on realty ground where suburbs are witnessing good real estate activities.

Property prices in suburbs are bit reasonable than properties within city limits. Developers are also focusing on the outskirts to launch affordable housing because of cheaper land rates which in turn is driving the home buyers demand for housing to these peripheral areas. Moreover, these suburbs are observing better potential because of improved infrastructure and better connectivity. Adding to it, the main forces that are driving the real estate market of these areas are the IT corridors in the South, the airport and the proposed SEZs in the North. Also these are the main forces due to which the suburbs are developing at a fast pace, reports Shradha Goyal of MagicBricks.com.

For an end-user, the price of the property and the connectivity are the most significant factors they focus when they buy a house and investors are mainly concentrates on getting high returns. “Sub-urban areas are better bets in most of the metropolitan cities because you are starting with a lower base investment and therefore the probability of rate of return is higher in these areas,” said Pradip Chopra, CMD, PS Group of Companies.

In the Eastern suburbs, the infrastructure developments like metro rail, better connectivity through Old Madras Road, 8-lane Peripheral Ring Road and the Outer Ring Road are the main thrust that is driving the real estate demand in and around Whitefield area. Towards Hoskote, the main residential demand driver is the industrial growth led by proposed SEZs.

 “Plots and apartments are highly recommended for investors. Villas are a risky investment. It is easier to find tenants for an apartment than villas,” said Ravindra Pai, MD, Century Real Estate Holdings. Many such options are made available for home buyers in the outskirts and with the developed infrastructure, connectivity and better amenities, home buyers do not mind moving to these locations, which are far from city limits.