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About Bangalore

Bangalore is the capital of Karnataka, and it is located in the southeast of the South Indian state of Karnataka. After Delhi and Mumbai, Bangalore is the third most populous city in India, with the fastest growth in real estate. It can be classified into five regions- East, West, North, South, and Central.

The city received several nicknames for its excellent lifestyle, such as "Garden City" for its well-planned open spaces, And "Pensioners' Paradise" for its superb climate. There are many IT & ITes companies, so Bangalore was named "Silicon Valley" due to the growth of IT/ITES industries. However, with the real estate boom in Bangalore, the city may lose its green cover.

Real estate market in Bangalore

Bangalore real estate is divided into two parts North Bangalore and South Bangalore. Buy properties in Bangalore are growing daily as the city develops its industrial, commercial, and technological sectors; along with this, employment opportunities are also increasing. Due to which people are migrating to the city from different parts of the country. Nowadays, finding a house in India is no longer a difficult task. Initially, you need to select the location, budget, and type of property. Bangalore real estate market deals with both residential and commercial properties.

A property can be residential if it serves the purpose of stay, whereas commercial property is meant for offices, businesses, and shops in Bangalore, Etc. Real estate industries have their registered plots of land and are available for sale as per the guidelines by the Indian Government. Many houses in Bangalore are open at different locations as per individual choice. The property rate also depends on the surroundings. For example, developers in the city are looking for plots with a good transport network or availability of schools, banks, hospitals, and industrial and commercial areas. Based on these factors, Bangalore real estate prices, so be sure about your requirements.

 

Residential Real Estate Market in Bangalore

Everyone knows that Bangalore is an end-user-driven market. In the first quarter of 2013. When demand for office space declined, the need for housing space increased by about 33%. Detached houses dominated the real estate market for a long time. In the last year has seen a significant shift of preference towards houses and flats in Bangalore. Since it is a hub of IT & ITes for migrants, the rental demand increased in the housing market is the largest among the Indian metros cities.

If we go for luxury houses, they promise an elegant and luxurious way of living. Opting for villas in Bangalore is a perfect choice for those who wish to invest in posh localities. It is equipped with high facilities and modern amenities; luxury houses in Bangalore promise residents a sense of residential excellence. Many villas come with luxurious facilities and are worth the investment if you have a flexible budget and wish to invest in a higher spectrum of properties in Bangalore. 

 

Connectivity And Transport

The state of Kerala is well connected through major roads, railways, and airways. The city is known for the modes of transport available to facilitate inter-city as well as intra-city movement. In its immediate vicinity, the city is well connected to Mysore, Hassan, and Tumkur, and Chennai, Mumbai.

It has an extensive network of roadways connectivity, making it highly accessible to commute to other states or cities.  

Airways

It is globally recognized and well connected to all major destinations, served by Bengaluru International Airport Limited (BIAL) since May 2008.

 

Railways

The city of Bangalore is part of the Indian Railways under the South Western Railway zone. It has three main stations: Bengaluru City Railway Station, Bengaluru Cantonment Station, and Yesvantpur Railway Station.

 

Metro

In 2008, Bengaluru Metro Rail Corporation Limited (BMRCL)conceived the idea of ​​a rapid transit mode of transport known as the Namma Metro. It has been operational since 2011. Nowadays, there are two functional lines - Violet, running east to west, and Green, running north to south, which collectively covers a distance of 42.3 km. The Red, Blue, and Yellow lines have been constructed to expand connectivity to the suburbs and the city's airport.

 

Lifestyle and Infrastructure in Bangalore 

Bangalore has a high literacy rate among Indian cities, according to the census report of 2011. Due to the hub of IT & ITes companies, it became more popular, and the town represents an accurate cosmopolitan outlook with migration from across the country. The city has seen the highest growth of population as compared to all other metro cities in India. It has led to an explosive growth of assets in Bangalore. After adding the functions, the Government has sanctioned the development of Special Economic Zones (SEZs) within 2015. These Special Economic Zones include Electronic City, Kengeri, Varthur, Begur, and Whitefield, all in South Bangalore. Since the outer ring road has been completed, massive demands have been noticed in the real estate in Bangalore.

 

Stamp Duty And Registration Charges In Bangalore 

It is essential to know all the legal information while buying properties. The state government decides the tax, and it might be different from state to state. The government charges stamp duty and registration charges while buying or transferring properties to another person's name. The current stamp duty and registration charges collect 2%( Less than Rs 20 Lakh), 3% (Rs 21 to 45 Lakh), and 5%(Above 45 Lakh), respectively. 

 

Return on Investment

If we talk about return on investment, there are many prime locations where chances are high to get a considerable return in South Bangalore and North Bangalore. It is heaven for established companies and budding entrepreneurs. Nowadays, everyone dreams of having a commercial space or an office in Bangalore. This city has gained tremendous popularity due to several startups and worldwide famous combinations in various niches. I have mentioned below some top residential and Commercial locations where the demand is high for properties in Bangalore for sale & rent.

  • Whitefield 
  • HSR Layout 
  • Rajaji Nagar
  • Electronic City
  • J.P Nagar
  • Marathahalli
  • Indira Nagar
  • BMT Layout
  • Sarjapur Road
  • Hosur Road
  • Yelahanka
  • Bannerghatta Road
  • Koramangala
  • Hebbal
  • Kengeri

Property Price Trends in Bangalore

Locality

Price Per Square Feet in INR(Rupees)

Rent Per Month (Approx) 2 BHK Flat

Whitefield 

4952

23-26 K

HSR Layout 

5361

24-28 K

Rajaji Nagar

6541

16-22 K

Electronic City

4967

15 - 23 K

J.P Nagar

4823

19 - 23 K

Marathahalli

4327

21 - 27 K

Indira Nagar

8679

28 - 36 K

BMT Layout

5734

18 - 25 K

Sarjapur Road

4963

26 - 34 K

Hosur Road

4687

26 - 35 K

Yelahanka

4629

16 - 22 K

Bannerghatta Road

4793

19 - 26 K

Koramangala

8997

25- 35 K

Hebbal

5997

18 - 38 K

Kengeri

6346

18 - 32 K

 

Economy, Employment, Growth, and the Other Facts in Bangalore 

Bangalore is one of the most sought-after cities in India with the rapid growth of the industrial sector and service sectors. Due to these opportunities, there is a high demand for properties in Bangalore, This is one of the leading real estate destinations. People believe that the five pillars of Bangalore's economy are:-

  1. Information Technology (IT)
  2. Biotechnology
  3. Telecommunications
  4. Small and medium scale industrial parks like Peenya and Jigani
  5. Large establishments by public sector companies like Hindustan Aeronautics Limited (HAL), National Aerospace Laboratories (NAL) Huh. Bharat Heavy Electricals Limited (BHEL), Bharat Electronics Limited, Bharat Earth Movers Limited (BEML), and Hindustan Machine Tools (HMT). Bangalore is the fourth largest Fast Moving Consumer Goods (FMCG) market in India.

We see significant changes and growth have taken place in Bangalore for a decade. People believe that it is the only city that offers many opportunities in the IT sector for migrants. Gradually many industries and manufacturing companies are established, which also provides jobs. Bangalore has excellent educational institutions that are seen as a sign of the city's flourishing technology industry. Everyone knows that about 47% of the 265 biotechnology companies in India are in Bengaluru. There are many ready-to-move flats available to make it a preferred location to live a better life. 

 

Estimated Construction Cost in Bangalore  

After the pandemic (Covid-19), the actual cost of constructing a house increased due to inflation. Suppose you are planning to build a home in Bangalore; you may have paid a considerable amount. The estimated construction cost in 2021 varies from Rs 1650/ sq ft to Rs 1900 sq ft nowadays. It also depends on different factors and requirements, like the location and choice of 1BHK, 2BHK, 3BHK, and 4BHK. Sometimes it goes high beyond the expenses or estimate.

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