Factors Driving Growth for the Residential Real Estate in Bangalore

In Bangalore, the residential real
estate market has managed to enjoy steady growth compared to other metropolitan
cities. Bangalore is India’s most preferred city to live in because of many
elements. One of the most vital factors driving the growth of the
residential real estate market is the expansion of manufacturing hubs and IT parks. Today,
6 out of 9 ‘Namma Metro’ Lines are operating across various parts of the city
and have increased the demand for real estate. Moreover, the demand for villas,
bungalows and
apartments in sarjapur road is rapidly increasing among NRIs as well the residents
of the city and the nation.

Bangalore is one of India’s renowned
cities for quality education and employment opportunities in the IT industry.
This has led to a steady demand for commercial and residential constructions
across the city. The city is experiencing a lot of foreign investments,
infrastructure projects and the increasing number of builders offering
high-quality constructions with ultra-modern facilities. According to sources,
Bangalore is witnessing a consistent 13% average annual price appreciation rate
since 4 years. The population of the city is anticipated to grow from 9.6
million to 14 million by 2021. There are 2,840 IT/ITES companies, including
100+ Fortune 500 companies. The city has 31+ industrial hubs, including PSUs,
IT/ITES, engineering, Textile and Biotechnology.

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