Bangalore being one of the most important cities of the entire country has witnessed massive growth in terms of Bangalore real estate over the years. This doesn’t just mean in the IT sector. The growth has been exponential in all infrastructural sectors which include the civic and social. The civic infrastructure has seen growth with the high population which Bangalore currently holds. It has given the children varied aspects of life and as a whole the city has done a marvelous job at preserving the future of the young minds. You will find that the city holds true to its values and norms and has provided children with the shared community vision.
The society as a whole thinks of them as a family. This leads to everyone making contributions and taking a step to ensure a better future. This is one of the most fundamental facts when it comes to civic infrastructure. When it comes to social infrastructure Bangalore has also taken large steps to securing the care and importance which this sector provides. It has given its all in the medical sector with hospitals and dispensaries being opened in a variety of areas. With many other types of social infrastructure being opened in parts of the city the economical stability of the city has also gone up. This has resulted in better social environment.
Also with the rise of the IT sector in Bangalore over the recent years, it has been witness to a large upward movement in terms of economy. This doesn’t mean that commercial office spaces have been abandoned. They are also there and are rising in numbers. Bangalore as a whole has taken the real estate to a whole new level with careful town planning and expert guidance regarding real estate.
Analysis of Bangalore real estate in 2014
The Bangalore real estate market saw significant growth during the July- September 2014 period. It resulted in a huge growth and that gave opportunities to real estate agents and people to look for new properties. This was the case in all sectors except for the North as the North saw a marginal dip in the period except for Vidyaranyapura which turned out as the highest gainer within the sector during that period. However all other sectors saw increase in the real estate market.
The south Bangalore region showed a hike of 9 percent and the popular real estate stars were the HSR Layout and the BTM Layout. The price appreciations witnessed were more than 30 percent. The west region came to a close second place with the hike of 24 percent due to the Rajaji Nagar project which raked in quite a high percentile. In the East it was a given and take type of scene with the localities such as Old Airport Road and Raman Nagar witnessing growth but the Outer Ring Road shooting down. This resulted in the increase flaming down in total which came down to only a 3 percent increase. This resulted in a not so much increase for the East sector.
There were several other projects going on which resulted in massive growth of the city but with the growth of the metro being the top priority most infrastructural growth occurred in the localities which connected the metro. Top performers in the residential aspect of the city were the BTM layout and the HSR Layout then followed closely by the Indira Nagar project. All these factors made the 2014 analysis if the infrastructural development of Bangalore during the 2014 a good deal. However there were better scopes of improvement which was not possible due to the small depreciation in the north sector.
Property values in the year 2014
The prices of the sectors have gone up and down in the year of 2014 but the overall growth of the Bangalore real estate stayed intact with the increase being little. The downfall of the north sector caused the increase to be so limited. The rental aspect of the infrastructure also clocked in quite an increase with a percentile of 6. This is a good amount since it was the North which hikes in almost 3% of the entire increase. The rise of the metro and the connection which were made in the areas saw the increase in rentals. The places where metro tracks were laid also saw the most amounts of rental price hikes.
Almost all areas which houses IT offices saw a good amount of increase in real estate with eastern localities like BTM Layout and HSR layout taking the top spots. This has resulted in higher employment rates also inflation in the real estate market. This was the case with all property values with the main rule being if the metro were being connected through the locality then the price would be increasing but if it was not there wouldn’t be much of a hike.
It was because of this that the Northern sectors suffered a small loss in terms of real estate. Since Northern areas were not that well connected with the metro and the projects didn’t stretch there to hike up the real estate prices. Overall property values of the city were balanced with the east, west and south being the top dogs and the North suffering a minor set back. But it was overcome with the huge projects which occurred in the rest of the sectors.
Bangalore will prove to be a hot city in terms of real estate during the year of 2015 since it has kept its steady overall growth through the last years. Also with the new places are being opened up and the areas being covered in buildings. Bangalore real estate should be a good place to invest in if anyone is looking to go for an investment in the real estate. Already Bangalore is one of the leading cities of the country with its huge IT hub and other business sectors. Now real estate is also coming into the mix for the past few years. With such points Bangalore may soon become India’s leading city in terms of complete effectiveness.