Popularly
known as the Silicon Valley of India, Bangalore leads the pack of outsourcing
destinations of the world. The Information Technology swept across the country
during the 1990s. One of the Indian cities to feel and the heat and gradual
progress was Bangalore. As demands for jobs increased, a demand for office
spaces also increased. This gave a good opportunity to many real estate
entrepreneurs to invest in Bangalore.With a teeming population counting 5
million and above, the city witnessed an unprecedented growth in the real
estate sector. Driving forces such as establishment of IT parks,
infrastructural plans have kept the real estate market of Bangalore at a
upswing and it is expected to stay like this in the near future. Both
residential and commercial properties have grown in leaps and bounds, making
Bangalore one of the most expensive cities in India.
Commercial Real Estate
in Bangalore
Due
to the establishment of IT companies, the real estate in Bangalore has seen
major boost with property rates soaring high. Among the major commercial
projects, the one worth mentioning is the Electronics City (period missing)
The
Silicon Valley of India boasts of a huge commercial real estate market. Among
them, a commercial project worth mentioning is the International Tech Park.
Developed over the last two decades, its infrastructure boasts of a dedicated
power plant that generates over 12 MW of power. Six of India’s leading telecom
companies have their offices in this IT Park. Major amenities of the park
include the following:
·
Tech
Park Health Club
·
Tech
Park Business Centre
·
Tech
Park Mall
·
Hotel
Vivanta by Taj Group of Hotels
Apart
from the above mentioned amenities, the Tech Park Mall individually is equipped
with facilities worth mentioning. Such as:
·
Banking
and ATM service
·
Cyber
Parlor
·
Fitness
Center
·
Film
Studio
·
Medical
and Dental Clinic
·
Travel
Agencies
·
Gift
stores and retail outlets
·
Book
Stores
·
Food
and Beverage outlets
As
security is important, the IT Park has a well maintained security provided by a
city based security company G4S. With more FDI flowing into India, it can be
estimated that the commercial real estate in Bangalore
is expected to grow.
Residential Real
Estate
Just
as the commercial real estate has witnessed a boom, the residential counterpart
of the same has also seen substantial growth in terms of investments. Numerous
residential projects have come all across the city making it a favorable
destination for all. The highly cosmopolitan culture of the city boasts of a
multi-ethnic entity. People from all over the country and all Indian
communities can be found in Bangalore. So much so that, one can find
residential localities pertaining to their own communities. Locale such as East
Bangalore is a favorable destination for all. Several residential projects have
been completed over the last decade and more are coming up, thereby redefining
the condition of the real estate market of the city.
Be it commercial properties or
residential properties, the real estate scenario of Bangalore, definitely has a
promising future.
Author Bio:
Zara
Smith writes on behalf of 99acres.com, which is an internet portal dedicated to
meet every aspect of the consumers needs in the real estate industry whether
it is House, Land Villa, Studio Apartments tec. It is a forum where buyers,
sellers and brokers can exchange info. 99 acres covers buy and rent information
of properties for almost all major locations like Hyderabad Properties, Bangalore Properties, Delhi Properties
and Many more.
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