Bangalore city has attracted many IT companies as well as IT talent from all the nooks and corners of the world. Slowly the city emerged as a popular employment and opportunity hub. As the city saw a huge number of people migrating to its shores the city saw a rise in prices of real estate in Bangalore, India. In order to accommodate more and more Bangalorians the city started real estate development on its outskirts. Soon self sustainable societies and integrated townships dotted the city.
Rates of real estate in Bangalore, India reached a new high, as the supply just couldn't match up the demand. News of fake land dealings also rocked the real estate in Bangalore, India. The state government has recently taken several steps to tackle the worrying situation. But still the city's real estate scenario is a worrying one. In an attempt to make quick profits several builders are using cheap and sub-standard materials. According to a statistic of Bangalore Municipal Corporation more than 50% buildings in the city are prone to fire accidents. It was also noted that most of the buildings also do not have proper fire fighting equipment's in case a fire spurts out.
People who are working in the city are keen to invest in residential property in Bangalore, as most of the people prefer to pay EMI's over rent. Luxury residential properties in Bangalore too are on high demand. People are looking forward to invest in residential sale properties in Bangalore to earn a handsome rental income. A new trend has also emerged in the real estate scenario of the city where offices, commercial spaces as well as residential spaces are in an integrated township. Several people who are fed up with the heavy traffic of the city prefer to buy a residential property in Bangalore near their office.
Bangalore real estate has expanded rapidly, and if one wants to buy an affordable home one has to look further away from the city. Devanahalli, the place where Bangalore's new international airport had come up was one of the places where one could buy an affordable residential property in Bangalore. But, this locality too is seeing a rapid rise in commercial activities in the region which has led to escalation of property prices in the locality. If such trend keeps continuing then soon people will find it unimaginable to invest in a real-estate in Bangalore.
0 comments:
Post a Comment