Real estate in Bangalore is like pure gold currently, there is a large influx of people from various parts of India that are coming here for work and later investing in real estate here. We see a lot of banners that show “Flats for sale starting from xyz lakh”, “affordable housing” “ Apartments in Bangalore”.
Do you ask yourself, what next to Bangalore?
Bengaluru in the 90’s was the Garden City, in the 2000’s became the IT city, Now, in the next ten years it may very well be the norm to call it the Apartment city.
The real estate pendulum may not have a downward swing if the current statistics in the year 2018 are to be believed, a large number of projects that are mainly into flats are being developed by real estate developers in Bangalore.
The trend in the next ten years promises to be an amazing turn of events:
Swadesh Effect – The Returning Indian
Donald Trump’s policies are changing the way the present US working style is concerned. There are a lot of Indians that have migrated to the US for better employment opportunities, they are now turning back to India to settle down for good and build homes and families. Bangalore being the IT capital offers them a unique chance to stay with the IT and be back in India too. This shall prompt a lot of young budding NRI’s to think ahead and plan for housing in Bangalore. That is a trend that is waiting to catch on.
Invent of Machine Learning and AI:
With Artificial Intelligence and Machine Learning coming into the fore globally it won’t be long until we see that Bangalore real estate developers shall cash in on the new processes, we may have an Amazon for real estate market too, maybe completely eliminating the middle men or the agents with direct contact between the buyer and the developer based on the taste of the customer, got from the AI and ML data.
Adjustment to RERA
The Mushroom of apartments that have come up, has been a both a boon and the bane to the Bangalore Skyline, with apartments that are constructed but not fully occupied, layouts that have been started but not quite complete. RERA came into the equation and changed the entire gambit of the half- done projects, delayed projects. RERA in each state has made policies that can guarantee a speed up in the process of completion of present projects. This is all set to revolutionize the real estate sector specially with regards to the flats, bringing impetus on affordable housing.
RERA’s latest entry into the fold makes the real estate industry take heavy tolls now, but in the long run these are making a significant addition to the upswing in the real estate in Bangalore.
Metro Connectivity, Traffic and Work from Home:
Over the next ten years, Metro connectivity is all set to change the landscape of travel and with that the fabric of the real estate, Bangalore can very well grow further inland and occupy many more regions and villages, these villages can be the next big resort space, stone throw away from Bangalore, yet away from the din of it.
With Metro, traffic could reduce considerably, making off shoot places accessible to major places of work, driving development deeper into the other parts pf Bangalore that is less explored. Restaurants, shops and shopping complexes could very well define these spaces that lie undiscovered now, since a lot of them prefer to stay and work in Bangalore and head back home on weekends.
The corporate work culture too is changing, cafes with Wifi turning to offices for startups, hubs for siting and developing codes, hotels, game arenas within the office, the times with Work from Anywhere is here and this is sure to be a major influence in the years to come.
Whatever the changes, Bangalore as a juggernaut keeps on rolling, real estate in Bangalore may not suffer a dip at all, but simply adapt and continue to rise despite all the changes. Bengaluru is the right place to invest.