Bengaluru, Silicon Capital of India, the Green City of India, The pensioner’s paradise.
We have all heard this from time immemorial. It is every middle-class man’s dream to have a house that they can call their own. A lot of them are poring away on advertisements on paper that read, “Flats for sale in Bangalore”, “ Property Developers in Bangalore”, after hours of research and finding the right balance in the per square foot rates and the location, they hit the next button of having the right property lawyers to have a property verification done. There are various checks on the property, its lineage, its proximity to the Raja Kaluve, sale deeds, A -kathas or B-kathas.
After all this there are property visits and long hours of debate on what to buy and what not to. Everyone wants to cash in on the trend in Bangalore, there is a hush hush news flowing around that the right time to buy a house in Bangalore is now, with record sales in real-estates being made in southern India, especially in Bangalore.
Affordable housing to Bangalore’s middle class
With a lot of property developers having a change in their strategies by completing their present projects, rather than investing on the newer ones, there has been a surge in the housing market with affordable housing being a reality. According to a report on the cost on the housing, the properties currently on the market are available at around the price range of 50 lakhs.
With support from bank loans, stable jobs in the IT sector, a lot of them are coming out of the shadows and investing on their dream home. The real estate trend has been on the upswing owing to this and a few more factors.
Bengaluru, IT corridor and the startup hub:
The need to reach office within forty to fifty minutes is the paramount need for every family that caters to people who work in the Industry. In houses that have most of them working the IT sectors, the long hours of commute leave little time for following one’s passion and quality family time. A lot of the real estate developers and the array of apartments that have sprung up on either side of the IT corridor make for an excellent investment of resources.
Bengaluru being the start-up hub that rakes in so many young dreamers of the world is surely changing their world, also changing the landscape are places of habitat that cater to these workspaces and offices. With a open studio like requirements for most startups, including the IT and the non IT space, the real estate options in Bengaluru is evolving with the dynamics and offering developers with unique opportunities that they can cash in on.
Increase in transparency and New Regulations:
With the onset of Demonetization, the real estate industry took a huge hit, property sales that relied on a upfront cash sale had the wind blown out of them. Newer regulations form the BDA stating that a developer can sell plots in his plot could be done only after every development was made complete contrary to the previous stop and check methods. These regulations and norms have brought in the a level of transparency in the way things operate and has made way for reliable developers to shine through against rookie developers.
With Bangalore real estate trends clearly on the rise, it is time for you to do your research and find the right home to nest your dreams, current trends indicate that now is the best time to invest in that hard earned money, be it the middle class family or the NRI family looking to come back to its roots following the changes in the international economy, the Bangalore real estate is in the driving seat and its time you invested in the same to reap the maximum benefits.