Growth amongst Indian cities has been the fastest in Bangalore during the past few decades, owing to the exponential growth in the IT/ITes industries sector. People have migrated from all parts of the country to Bangalore for better employment prospects and career growth. This population growth has been matched by growth in real estate residential and commercial segments. Further, the infrastructural growth has also been keeping pace with the real estate growth. Currently, the most promising residential micro-markets are Outer Ring Road (ORR), Sarjapur Road, Whitefield and North Bangalore sites for sale in bangalore.
Luxury Residential in North Bengaluru:
Bangalore is inhabited by the third highest number of high net worth individuals in Indian cities. Over 10,000 individual dollar millionaires call it their home. Large parts of the city host a large population of expats who live and work here. Therefore, Bangalore’s polity is cultured, well travelled and sophisticated.
The Central Business District (CBD), Secondary Business District (SBD), Whitefield, North Bangalore and Outer Ring Road sub-markets have been witnessing increasing demand for high-end residential apartments. It is expected that the current rate of demand increase is likely to remain stable in the short term future as well.
Bangalore promises to be a lucrative base for villa and row house development in North Bangalore, ORR, Sarjapur Road and Whitefield micro-markets. As is well known, high-end residence buyers in Bangalore are very particular about amenities, quality and unit sizes.
Mid-Income Housing in North Bangalore:
This market segment is constituted by professionals and employees in the IT and ITES industries in Bangalore. This segment is particularly drawn to social infrastructure, proximity to workplace, good physical infrastructure with close access to educational and healthcare facilities.
Owing to the above said reasons, areas such as Whitefield, the ORR IT corridor, Electronic City and few areas in North Bangalore have experiences steadily increasing demand from the middle income segment sites for sale in bangalore.
Affordable Housing in North Bangalore:
The extremely price-sensitive population segment demands affordable housing. Real estate developers of this housing segment have been locating their projects in Mysore road, Hosur road, Kanakapura road etc., as large parcels of land are readily available at economical costs vila plots for sale in bangalore.
North Bangalore area has been accommodating bulk of the demand for high-end residential units. This is on account of the traction this region gained subsequent to the commissioning of KIA. Projects situated around Hebbal and Bellary Road comprises the luxury segment. So north Bangalore is positioned to be the next economic center of Bangalore.