The first part of plot development consists of obtaining land use conversion from agricultural land to non-agricultural land under the seal and authorization of the Revenue Department. Once the conversion is granted, then the developer has to survey and make a detailed plan for its development into a site consisting of plots of different measurements including adequate space for roads, common areas etcetera plots in bangalore
At this point one can make out the difference between an ordinary developer and the best developer. The best developer conceives of every possible need of the prospective buyer of plot cut by the developer so that the buyer will have no regrets of having bought the developed plot(s).
Bangalore’s Intertwined story of IT boom and real estate growth
The unanticipated growth of the IT sector in Bangalore has earned it the name of Silicon Valley of India. This growth has resulted in heavy inflow of migrants from all parts of India. The IT sector has contributed its might by attracting huge investments from India and abroad alike.
The IT sector’s story begins with the establishment of Infosys and Wipro in the 1980s. But its impact on real estate was minimal.
During 1991-2000, due to economic liberalization, Bangalore attracted foreign investments and the IT hub grew with the ready availability of skilled manpower.
Very soon, a great many number of MNCs set up shop and office in Bangalore. The consequent increase in population resulted in unfulfilled demand for housing. Therefore, there started a boom in the real estate market with many prominent builders foraying into the market sites for sale in bangalore.
The growth of IT sector has since stabilized and continues to attract people from India and abroad. According to a report of 2013, nearly 40% of the country’s IT industry is located in Bangalore plots in bangalore.
In the foreseeable future the competitive advantage of Bangalore’s IT sector will still hold good. Therefore it is expected to continue attracting people and investment increasingly. So it holds out the promise of a good realty investment for future also.