Bangalore is no different. The city has grown from a predominantly residential location with a Central Business District and shopping belts in the commercial areas to a regional business powerhouse. In the process of this transition, many micro markets have sprung up around the core city areas. Bangalore real estate market is bouncing back with a spurt in the level if inquiries for all categories of units. Unlike earlier, inquiries ranging from budget apartments to high end homes are up with the result property developers are regaining confidence to launch new projects. In the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
In the last changing scenario real estate investors are invariably faced with a dilemma as where to put their money to get maximum yield. It’s raining new launches in Bangalore’s real estate market after a 3 year hiatus. For many developers, the financial year 2011 12 may well go down as the year that saw the maximum project launches. Besides, the residential market saw new entrants like RMZ, which has so far been in the commercial and retail space. Bangalore real estate market has exhibited a remarkable recovery from the downturn compared to other cities.
In Bangalore there is a growing demand from individuals looking at buying property that is high on the luxury quotient. These may be in the form of villas or apartments, with world class interiors and facilities that make the facility a self-contained space. Most of the demand for high end residences is from top executives of MNC’s businessmen and NRI’s who want to park their funds in India in the wake of an uncertain and slipping global economy and consequent lack of alternate investment opportunities.
Bangalore real estate market is a bubble that is waiting to burst. Leading city developers feel that unlike the other two hot property market in the country Mumbai and Delhi Property in Bangalore is based on actual end-user demand. Bangalore is among the largest real estate markets of the country. The locations with increased infrastructure initiatives around them, are going to become the new growth corridors and will witness stronger demand and price increases. Thus from an investment standpoint one can expect good returns in the future. As an investor, one needs to observe the planned initiatives and enter at an early stage and stay invested for the long-term.