Invest in Property in Bangalore
Bangalore is an IT hub of India and has fantastic infrastructure, social amenities, and a stable real estate market. Many homebuyers, investors, and builders are confident that the city is a good place to invest. The city is home to two major IT Tech parks and has a booming economy, particularly in the North and East zones. In the past five years, real estate investment in Bangalore has averaged 5-8 percent CAGR, excluding rental income.
The North Bangalore region is experiencing remarkable growth in both residential and commercial real estate. Its close proximity to the Central Business District and the International Airport makes it a great option for both families and business people. There is also great public transport connectivity, and the upcoming 72 km Metro Rail Phase 2 will make getting around the city easy.
The suburbs of the city also offer high appreciation rates. For example, Kanakpura Road is a prime example, with many high-end projects near the Mysuru Road. It is also home to big projects like Prestige Primrose Hills and Prestige Falcon City. These developments offer luxury properties with great amenities nearby.
Aside from capital appreciation, residential properties in Bangalore offer monthly benefits as well. With more youth migrating to the city for jobs, education, and other opportunities, there is an increased demand for residential rental properties. This means that residential rental properties will continue to appreciate in value and provide good monthly incomes.
Is IT Right Time to Invest in Property in Bangalore?
The growing IT industry in Bangalore is one reason to invest in property in Bangalore. This sector is growing rapidly, resulting in an increase in the demand for residential and office space. Additionally, the weather in this city is comfortable year-round, making it a great place to live.
Devanahalli is another area of the city that is growing in popularity as an investment. The suburb is located around 30km from the city center and is home to several satellite townships. This area has many IT giants that are creating huge employment opportunities. The area is also home to an excellent infrastructure that provides excellent connectivity.
Whitefield is another excellent area in the city to invest in property. It is well connected by the Purple line metro, and is a highly sought after location due to its proximity to the IT sector. The area is also home to IT parks and has many affordable housing alternatives. Its proximity to public transportation has also increased its appeal to the working class and the youth.
The future of this market in Bangalore looks bright. The apartment market is expected to grow at a 15-20% rate, and the price of residential property is projected to rise by about 15% by 2022. With the increasing demand and limited supply, this means property prices are expected to go up. As such, apartment complexes are a great way to invest in the property market.
