NRI’s Driving Bangalore Real Estate Market
Jun21

NRI’s Driving Bangalore Real Estate Market

Over the past few decades, Bangalore has been one of the fastest growing cities of India. The booming Information Technology sector has helped Bangalore to earn reputation as Silicon Valley of India and thereby led to, multi-cultural population, improved infrastructure, featuring exceptional educational institutions, and par above social setup. All this in turn has contributed towards aggressive development of Bangalore’s real estate market, making the city one of the most lucrative investment destinations for Non Resident Indians. Favorable currency exchange rate, availability of a wide range of real estate investment options, flexible payment and repayment options, professional property management services, and lucrative pricing are all influencing NRI techies from the West to consider Bangalore as a preferred destination for investing in property market. A radical development is that second and third generation Persons of Indian Origin (PIO) are also evincing keen interest in real estate investments unlike in the past. This clearly indicates that Bangalore is poised for revolutionary turnaround in economic development in the years to come. Another key factor is that in addition to NRI IT professionals, those in the service sector and businessmen are also considering investing in Bangalore’s real estate market. Currently, the most popular residential micro-markets are Sarjapur Road, Outer Ring Road, North Bangalore, and Whitefield. It is the 3rd largest hub of real estate investment for High Net Worth Individuals and also tops in terms of investment from Non Resident Indians who are considering settling down in India in coming years. What Makes Bangalore a Top Real Estate Investment Hub for NRIs? Owing to its cosmopolitan culture and potential for rapid development, Bangalore attracts NRIs from different corners of the world, particularly the United States of America. It is the home to more than 10,000 individual dollar millionaires, making it one of the largest bases of expatriates employed and living in the city. One of the major factors that drive NRIs to invest in Bangalore’s property market is the booming IT sector. It has the largest concentration of leading IT and ITeS companies. According to an estimate, there are 2,116 IT companies, over 664 MNCs, 183 biotechnology companies, and 248 BPOs operating in Bangalore today. The city currently employs more than 8.50 lakhs IT and ITeS employees, and also offers one of the highest CTC salaries to professionals as compared to other cities in India. A growing number of IT/ITES companies in Bangalore provide lucrative job opportunities to NRIs who are considering settling in India. Moreover, exponential growth in infrastructure and real estate sector also contributes positively towards influencing NRIs to invest in the property market. Furthermore, with depreciation in Rupee reaching peak...

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Condo Living-A Walkthrough
Jun02

Condo Living-A Walkthrough

Searching home in today’s market can be quite confusing and stressful when lots of residential choices are available. It’s a challenge to find a suitable residential space that will perfectly match your taste and preference for good living. If you are one of those who are looking for an abode that offers clean & beautiful surroundings, independent living, and luxurious lifestyle all under one roof, then condominiums can be a good option for you. Condominiums are premium apartments that make living more heavenly.  Condominiums are yet another architectural way of defining comfort and luxury living. They are a gateway to a vibrant living complete with designer features, beautiful landscape, and posh neighborhood that reflects the living status of the residents. Condominiums The concept of condominium is not old; the trend started in Mumbai around forty years back with the intent of setting up an alternative to the “cooperative housing society” model though, of course, with some changes. Cooperative housing societies basically catered to the affordable housing segment, whereas condos are premium flats cater to the needs of buyers looking for high-end residences. In recent times, the concept of condominium has gained momentum. A condo building has almost everything that an ideal home should have from efficient administration in form of a governing body or owners’ association to most modern amenities, and good neighborhood. Condo Living – Luxury Housing Redefined Condominiums commonly known as “condos” are often located in prime location and have easy access to city centers, shopping zones, schools, work place and restaurants. When you own a condo you have the ownership of your unit that includes the floors, walls and ceilings but not the land. However, you have to share the responsibility of maintenance of your condo building with other unit owners for the exteriors, the common areas, and all amenities within the complex.  Since it’s a shared responsibility the maintenance charges are borne by all. Three things that make condominiums exclusive and premium are – they are thematic in design; they come with some breathtaking view – it may be a sea view, a golf course view, or a lake view; and lastly, many condos are full-floor residential units that are spacious and laden with most modern amenities. That’s why condominiums come at a premium and are priced higher than the residential apartments in societies. Some of the factors that make condominiums a popular choice among high end buyers are: A good neighborhood of likeminded people is a key feature of condo living. Condo living is a contemporary living style which has evolved from demand of the modern times, where it is possible to mingle with...

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Nice Corridor Bangalore
May21

Nice Corridor Bangalore

The addition of NICE corridor to the city of Bangalore symbolizes rapid development of infrastructure to the city and ensures to support the growth opportunities in the IT hub of the country. The Bangalore-Mysore Expressway as it is known otherwise is a proposed 4 to 6 lane private tolled expressway. It forms an important link between the two cities in Karnataka, Mysore and Bangalore. The entire project is being developed by Nandi Infrastructure Corridor Enterprise (NICE). The plan is to build and develop a 6 lane expressway between Bangalore city and Mysore city. The expressway is planned to be 111 km long with a 9.1km link road into downtown Bangalore. NICE will collect toll and maintain the expressway after its completion. The six-lane expressways will consist of the following parts: The outer peripheral road of Bangalore is 109km long. The southern section of the outer peripheral road which is almost 41km is already completed and developed by NICE. This part of the road runs in between the NH-7, also known as the Hosur Road which provides connectivity to Chennai and NH-4, also known as the Tumkur Road which provides connectivity to Mumbai. The link road which is 9km long connects the outer peripheral road to Bangalore city at Outer Ring Road near Banashankri Phase 6 also known as Hoskeralli presently and further down will merge with  State Highway SH-17 also known as Mysore Road. A 3km stretch of elevated link road would connect the existing link road to downtown Bangalore at Town Hall / MG Road. This section of the road is yet to commence work. 111km of Bangalore-Mysore expressway, connecting, Mysore city and Bangalore city at the outer peripheral road. The work is still in progress and will be completed in the next two to three years.  Features: Some of the features of the expressway and the NICE project include an integrated Real Estate Development Master Plan. Five townships have been proposed to south of Mysore Road (SH17) which are to subsidize the expressway costs. The nature of the townships proposed include some of the best facility centers: Corporate Centre Commercial Centre Industrial Centre Heritage Centre Eco-Tourism Centre The addition of infrastructure to the city of Bangalore, will help to decongest the over populating city. With a slew of growth opportunities planned along the corridor, the end users will be focusing on the new areas, thereby reducing pressure on the existing city. The futuristic infrastructure planned and developed along the corridor is sufficient to support the demand pressure of the population growth for next 2-3 decades. It is estimated that the proposed townships will accommodate approximately 2mn people...

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Bangalore, the green IT city
Apr28

Bangalore, the green IT city

The Evolution of Bangalore The city which was once called the garden city has now become more famous as the Silicon Valley of India. More recently it has also earned the nicknames like IT city and Pub City. Let’s trace Bangalore’s journey from being the Garden City to now being the IT City. The high tech boom began in Bangalore in late 80s and by 90s it had become an IT hub, but before that Bangalore was popularly known as the Garden City. The reason being it had beautiful gardens – Lalbagh, Cubbon Park, and its roads were lined on both sides with green trees. It was Hyder Ali – the Sultan of Mysore who laid the foundation of Lalbagh, a garden named after his sister ‘Lal Bee’. But it was Tipu Sultan who too took its work forward and thus began the Lalbagh Botanical Garden. It was further expanded by the Britishers, who also planned Cubbon Park in the heart of the city. The presence of greenery trees everywhere seemed as if the entire city lay protected under a natural green cover. This gift of green by nature gave Bangalore another nickname – “the green city”. Pleasant climate throughout the year, beautiful surroundings, and a cosmopolitan culture has made Bangalore a preferred destination among the young professionals today. Bangalore, the third most populous city in India was once a “Halli” meaning a village in the then princely state of Mysore.  It was founded in the 16th century by a local chieftain, Kempe Gowda. This Halli was surrounded by many other small villages, rich green fields and a number of lakes, ponds and tanks.  This, perhaps, is the reason for Bangalore’s salubrious climate. Besides, Bangalore is situated in the heart of Mysore plateau at an elevation of 94.4 metres (3000 feet) above the sea level; this too is a major reason that Bangalore enjoys a pleasant climate throughout the year. From City of Greens to City of Geeks From the Garden City, Bangalore came to be known as the Silicon Valley-the IT City in the 1990s. So from green city it became a city of geeks. This change started in 70s when Mr. R.K. Baliga, the first chairman and managing director of Karnataka State Electronics Corporation, established an electronics park spread over 335 acres around 18 km. south of Bangalore for its Electronic City project. This was in 1976.The title Silicon Valley was first given to the Electronic City campus. The far-sighted state government and its right kind of initiatives for the industry attracted a number of electronic units to Bangalore and thus its foundation as the IT capital...

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