Oct 10, 2012

Real Estate in Bangalore- An Overview

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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