Hence we are very enthusiastic about real estate investment here. But why Bengaluru?
For one, the developers are quite progressive. There is of course no doubt that the IT boom has contributed to this attractive real estate jungle. Plenty of ‘trees’ for shelter so just choose the right one and precious sap will emerge down the line.
Okay that’s the attraction part. So, what makes Bengaluru sustainable for such investment? Well, it’s been noticed that people come here from all parts of India and don’t usually leave. The reasons – a genial culture, alternative job opportunities and a relatively healthy climate. Bengaluru is the new Mumbai, where everybody in the country believes they will find some work and prosper. Even runaway slum dweller children who in the mid 1960s chose Mumbai, are not found in Bengaluru by popular consensus.
Bengaluru is the fifth most preferred destination in the world for setting up of innovation centres by, global multinational companies, according to one report. Apart from Apple, Visa and Airbus, Bengaluru saw 9 billion dollars being invested in start-ups. The sheer power of these brands, apart from of course the obvious need for leaders and employees to move in here will definitely play a role in its further booming real estate as has always been the case.
What else drives this growth? The Metro rail network that’s slowly emerging is another sure fire cause. Properties in general and of course particularly proximal to metro stations will see a huge rise in their rates. Not something the old Bengalureans are accustomed to but they are getting there soon. Haven’t you see rental adverts in Europe and much of the developed western world that unfailingly mention their closeness to a ‘Tube’ (London Underground), MRT (Mass Rapid Transport) Station and similar such names. You’re definitely paying a higher rent to stay or live there. This will be a big boon for the appreciation of real estate. Even now, in anticipation of the networks to be build, appreciation has come for properties that are in the area.
Further, there is also talk of a suburban rail, much like Mumbai, Kolkata and Chennai’s. This is truly a mass transit system for the economically lesser abled citizens who of course form a vital part of the task force.
Sometimes, we don’t fully understand this. So it’s a good idea to share your thoughts with a professional property management company who will lead you to a good investment.
Don’t forget even if you don’t want to be remembered as a dynamic investor in youth, it’s always worth investing so you get to retire with plenty to spare. You can check out some thoughts on this particular aspect at http://www.propertyangel.in/blog/retire-on-rent