Why is Bengaluru a homebuyers’ favourite?
- 25 May 2018
We examine the many reasons why Bengaluru is a lucrative market for housing investment
For homebuyers exploring Indian cities to invest in, certain considerations are crucial – for example, the potential for price appreciation. Or current market rates and whether the location is family-friendly. Connectivity is also a key determining factor, together with the presence of amenities. Those looking to buy new homes should definitely favour developed cities such as Bengaluru. There are many important reasons for this, as the following article demonstrates.
Buying a flat for sale in Bengaluru:
Bengaluru has a healthy mix of both rental and ownership properties. With a large influx of migrants from across India and the world, the demand for rental homes is always high. In recent years, rental markets in Bengaluru have predominantly been driven by those employed in the IT/ITeS sector. At the same time, several others are choosing to set up forever homes in the city – these encompass affordable housing units, or even luxury apartments in Bengaluru. The city’s world-class amenities and the rapid pace of development are important indicators of its growth potential.
Why are flats for sale in Bengaluru always in demand? Consider the possible reasons:
* Several ongoing projects at competitive rates: While demonetisation rocked the boat for the housing sector in most parts of the country, Bengaluru did not exhibit too many signs of distress. There was no appreciable crash in prices, nor did the demand drop dramatically. In fact, most ongoing construction projects proceeded as planned, and several are on the way to completion as per target .
* Well-developed localities with every amenity for a good life: Bengaluru has always been at the forefront of development. But instead of merely focussing on major public infrastructure works to the exclusion of other amenities, most residential localities in Bengaluru are complete, self-sustained ecosystems in themselves. You are likely to find everything you need – such as schools, entertainment centres, hospitals and medical clinics, shopping malls and cinema theatres, public transport hubs, etc. – within the vicinity, when you buy a flat in Bengaluru’s good residential areas. Bannerghatta Road, Hebbal, Devanahalli, Thanisandra, Yelahanka, Sarjapur Road, Bellary Road, Varthur, Budigere, Yashwantpur, Rajajinagar and Koramangala are good residential areas in Bengaluru.
* The rise of luxury housing units: Bengaluru is an Indian city where average apartment sizes are higher than those of other comparable cities. Owing to planned development trends, as also the availability of land, Bengaluru residential projects typically tend to offer a wider range of features and amenities. In fact, those moving to the city for longer periods of time will often seriously consider luxury apartments in Bengaluru. The presence of reputed developers from across India caters to this trend. For example, there is high demand for flats in Bannerghatta Road, where Mahindra Lifespaces’ project Windchimes is located, with 3 BHK and 4 BHK flats. These luxury apartments in Bengaluru boast modern, thoughtfully designed amenities at one with nature, catering to a contemporary lifestyle that the well-heeled are accustomed to.