Bangalore – Perfect Destination for Luxury Homes
Being the Silicon Valley of the nation, it is the major IT hub which is a home to most of the major IT companies, both established as well as new ventures. This is why this smart city went through aggressive urbanization, specifically in the real estate sector and therefore has a developing infrastructure to cater to the needs of people from all walks of life, hence making is the most fast paced city of the country. It is a home to a multi-cultural population owing to its productive opportunities due to which demand for good educational, social and physical infrastructural facilities has been increasing.
Hence, Bangalore has turned into an investor’s paradise with unparalleled apartments in beautifully landscaped townships full of facilities. These urban homes with marvelous designs are offered at suburban price. Hence, these luxury apartments for sale in Bangalore have a higher ROI offer a better style of living, however, the residential properties here can be segregated into – affordable housing, min-income housing and luxury housing.
1. Affordable housing – This segment gives maximum weightage to the price of the properties. It has higher demand and this is why in most of the places the cost of acquisition is lower in comparison to other areas. Hosur Road, Kanakpura and Mysore Road are good examples of this scenario where the buyer’s needs of affordable housing has to be catered to. This demand is highest in the outskirts of Bangalore because of the proposed metro line and the Peripheral Ring Road. Therefore, most of the trusted names in the real estate industry like the Brigade Group, Nitish Estate, Ozone Group, etc. are focusing on this segment.
2. Mid-Housing Segment or the MIG – It mostly caters to the professionals form the IT and ITES sector. The residential projects in this category lays emphasis on physical and social infrastructure, vicinity hygiene, kind of population, quality of neighborhood, medical facilities and closeness to the IT hubs or respective workplaces. Some examples of this category are Whitefield, Electronic City, ORR IT Corridor, etc. Therefore the new residential townships are sprouting up to fulfill the needs of this segment.
3. Luxury Housing – Since Bangalore is the third largest investment hub of India for High Net Worth Individuals (HNIs), residential properties in Bangalore in this segment have an ever increasing demand. Areas like Whitefield, Central Business District (CBD), Outer Ring Road (ORR), Secondary Business District (SBD), etc. are some of the important areas for this segment. The luxury apartments and pent houses developed for luxury housing are loaded with all the additional amenities need for a comfortable and convenient living along with the facilities to offer an elite lifestyle. These homes have chic interiors and stylish interiors which are symbolic of class and upmarket preferences.
Several other factors which have positively impacted the growth of real estate in Bangalore are the fast growing IT industry, rising HNI investments, improvement in buyer sentiment, developing physical, social and public infrastructure and improved logistics management by the government, etc.