The 4.2 lakh square foot property has a 60-month lease, is situated in Bagmane Goldstone, and is a component of the Bagmane World Technology Centre. Beginning on Jun 4, 2024, Samsung made a deposit payment of Rs 40.4 crore to complete the lease.
The largest software research and development center of Samsung outside of South Korea, Samsung R&D Institute India-Bangalore Pvt Ltd, has extended its lease for five years at a rent of Rs 4.3 crore per month at Bagmane’s IT/ITeS Special Economic Zone (SEZ), which is situated in the Outer Ring Road IT corridor. Propstack, a data and consulting firm, obtained the documents.
The 4.2 lakh square foot property has a 60-month lease and is situated in the Bagmane World Technology Centre’s Bagmane Goldstone building. According to the document, the lease began on June 4, 2024, and the monthly rent will increase by 5% annually.
For the transaction, Samsung paid a deposit of Rs 40.4 crore, and the annual rent is approximately Rs 51.6 crore. The monthly lease payment made by the company for the Bengaluru property is approximately Rs 102 per square foot. SBG Software Private Limited is the property’s owner, and the company is leasing the space over 11 floors.
The document indicated that the leased property has 10 exclusive elevators and 562 parking spaces in the building.
Samsung did not respond to inquiries sent to it.
Samsung R&D Institute is the name of the conglomerate’s largest research and development facility located outside of its home country of South Korea (Samsung R&D Institute (SRI-B) is the name of the conglomerate’s facility that operates outside of its home country of South Korea.
The documents indicate that the company leased the space in February 2019. The Bagmane WTC Park has a built-up area of 6 million square feet on 52 acres of land.
Techies, good news! MK Stalin, the chief minister of Tamil Nadu, recently announced plans to build a new airport at Hosur, which could help Bengaluru’s Electronic City.
Tamil Nadu Chief Minister MK Stalin recently announced the construction of a new airport in the border city of Hosur, located 40 km from Bengaluru and only 25 km from the city’s tech hub, Electronic City. This development is good news for Bengaluru’s IT professionals, especially those who have made their home in the southern part of Electronic City.
For those who do not know, Kempegowda International Airport in Bengaluru is more than 60 km from Electronic City. The commute from Electronic City to the airport currently takes one to three hours.
Various IT professionals are employed in Hosur’s Electronic City, which offers faster internet and more reasonably priced housing than many other Bengaluru neighborhoods.
A local broker recounted a recent experience in the property-starved market of IT hub Bellandur in Southeast Bengaluru: “A couple that wanted to move from Electronic City to Bellandur had to pay Rs 5,000 more than the initial rental price cited for a 2 BHK because of high demand.
According to Saurabh Garg, the founder and chief business officer of NoBroker.com, rentals have increased in some of Bengaluru’s well-known IT hubs due to a mismatch between supply and demand.
These are five Bengaluru real estate hotspots that are well-liked by the city’s IT workforce.
Bellandur
Sarjapur Road borders Bellandur, a well-known IT hub in South East Bengaluru, to the South, and the HSR Layout borders it to the west. Numerous massive corporations call it home, including Wells Fargo, Adobe India, Linkedin, Intel Technology, and Adobe.
Bellandur offers a good selection of contemporary apartments and gated communities, with projects from prominent real estate companies like Prestige Estates, the Embassy Group, and Sobha Ltd. The region also benefits from the presence of multiple coliving brands.
“But it is hard to find good options and the rents are too high,” an Amazon India employee who lived in the neighborhood said.
According to NoBroker data, the average rental price of a two-bedroom apartment in Bellandur is currently Rs 40,000. According to local brokers, rents in this area have increased by 20% in the last 12 months. They attributed the sharp rise to a shortage of land parcels and a supply constraint.
Whitefield
Whitefield is a posh IT and residential district located on Bengaluru’s eastern outskirts.
The average cost of a residential property in this area is currently Rs 10,850 per square foot, based on data available on 99 acres. A 1-BHK apartment can set you back anywhere between Rs46.25 and 87.50 lakh.
According to NoBroker, the average rental price for a fully furnished 1 BHK is Rs 28,000, while a 2 BHK can be rented for Rs 35,000. According to the Proptech unicorn, Whitefield rent increases have been between 7 and 10% since the Purple Line metro opened for business in March of this year.
Real estate companies based in Bengaluru, and those from other cities have placed bets on the Whitefield market with several projects, such as Godrej Properties, Prestige Estates, Sumadhura Group, and Sobha Ltd.
Marathahalli
Marathalli, an East Bengaluru residential neighborhood on the Outer Ring Road, is highly sought-after because of its advantageous 8.6-kilometer proximity to Whitefield.
As per NoBroker, the current average rent in Marathalli for a 2BHK apartment is Rs 32,000. A local broker stated, “Yet, land in Marathalli is not available for upcoming projects.” He said that prices have increased by 10% to 15% annually.
According to Propertywala, this neighborhood’s average price per square foot for real estate transactions is currently Rs 9,151.
Electronic City
Local real estate brokers in the South Bengaluru tech hub report a 10-15% increase in rentals year over year.
The price increase in this location cannot be compared to other areas because of the large amount of unsold inventory, according to Kiran Kumar, vice president of Hanu Reddy Realty. He stated, “The share held by apartment landlords is also declining due to the availability of multiple options for paying guests.
A 2-BHK apartment in Electronic City is currently for rent for an average of Rs 28,000, according to NoBroker.
Hennur
Hennur in North Bengaluru has become increasingly popular with IT professionals in the IT city as a preferred residential area after the COVID-19 pandemic. Six kilometers separate it from the well-known Manyata Tech Park.
According to Kumar, property values in this area have increased by 10% to 15% over the past 12 months. He also mentioned to expect a greater demand for 2 and 3 BHKs in this area.
According to Square Yards, a 950-1,200 square foot 2 BHK unit in Hennur currently rents between Rs 32,300 – 40,000. A 1,250- 1,630 square feet 3BHK rents for Rs 43,100 -55,600.
The Kempegowda International Airport is located in North Bengaluru, while Hebbal is 25 kilometers away.
According to Propertywala the average residential property rate in Hennur is $10,850 per square foot.
According to a Knight Frank report, Bengaluru’s housing sales have decreased by 2% to 13,133 units from 13,390 units a year ago. This decline is attributed to lower sales in the affordable category, despite the IT city’s office demand remaining unchanged at 3.5 million square feet.
“The first quarter of 2024 saw a nearly 65% to 70% decline in sales in the less than Rs 50 lakh housing segment, which has reduced the overall numbers. Sales in the residential segment between Rs 50 lakh and Rs 1 crore have decreased by 7%. This is mostly because purchasers in this market segment struggle with affordability. At the launch of Knight Frank’s India Real Estate: Office and Residential Report (January-March 2024), head of research Vivek Rathi stated, “This might just be a short-term anomaly.”
That said, he added, even though the city’s taps are running dry, sales of homes priced at more than Rs 1 crore have increased by nearly 50%.
Responding to a question about whether the Bengaluru water crisis had affected the real estate market, Knight Frank chairman and managing director Shishir Baijal said that the issue “has not had too much of an impact on the housing sales trajectory and cannot be attributed to the decline in sales or the market performance.” Nevertheless, since Bengaluru is a popular city for office space occupants and a significant commercial market, the problem needs to occupants and a significant commercial market, the problem needs to be resolved. It is the nation’s epicenter for commercial leasing Government agencies must eventually address the water problem,” he continued.
This is the Bengaluru housing sales data stacked up.
Bengaluru’s residential market saw 13,133 units sold overall with 13,135 units introduced and an annual growth rate of 9% YoY in Q1 2024. According to the report, during Q1 2024, the average weighted residential price increased by 9% YoY to Rs 6,145 sq ft, the second highest value among the eight Indian cities.
As many as 993 housing units were sold in the less than Rs 50 lakh category in Q1 2024, representing a 68% decline; 6065 housing units were sold in the Rs 50 lakh to Rs 1 crore category, representing a 7% decline in sales; and 6075 units were sold in the Rs 1 crore plus category, representing a 50% increase, according to the report.
In Q1 2024, office space transactions in Bengaluru totaled 3.5 million square feet.
In the first quarter of 2024, Bengaluru recorded office space transactions totaling 3.5 million square feet (mn sq ft). According to the report, the nation’s IT capital drove the expansion of the commercial market and accounted for 22% of 16.2 million square feet of transactions in the top eight Indian cities.
From 1.3 million square feet in Q1 2023 to 5 million square feet in Q1 2024, office completions in the city increased by 275%. Almost 38.46% of the new office completions in the top eight markets in the nation were in Bengaluru.
In Q1 2024, Global Capability Centers accounted for 51% of the city’s occupancy and leasing activity. The city’s Global Capability Centers (GCC) oriented transactions grew by 38% YoY, from 1.3 million square feet in Q1 2023 to 1.8 million square feet in Q1 2024.
According to the report, Flex office spaces comprised 26% of the city’s leasing activity. Businesses with an Indian focus and Third-Party IT Services in second and third, respectively, at 14% and 95%
The Mangalore City Corporation (MCC) has raised the rates of property taxes in Mangalore for both residential and vacant land plots. There have been many complaints to the authorities about the increased tax rates on undeveloped land and plots. If you own a home in Mangalore, read this article for the most recent information on property taxes, deadlines, and rebates.
Property taxes are one of the sources of revenue for the Mangalore City Corporation (MCC). These revenues support infrastructure growth and also the efficient operation of public facilities. These revenues support infrastructure growth and also the efficient operation of public facilities. The unit area system serves to calculate taxes for homes in Mangalore.
The MCC has recently written to the Karnataka government requesting a reduction in the tax increases for vacant plots under the Self-assessment Scheme (SAS). There was opposition to the government’s decision to impose a 0.2-0.5 percent tax on vacant land. It is because the Mangalore property tax regime has a determined effect on low-income families, who own over 50% of the undeveloped land outside of the city.
You can review the previous revisions to the property tax for residential and commercial properties made by the state authorities below:
Mangalore’s MCC property tax rate in 2024
The Mangalore property tax is set for each property type by the Mangalore City Corporation (MCC). The properties fall into three categories: non-residential or non-commercial use, commercial, and residential. The corporation reports that property taxes range from 0.20 to 1.50 percent.
Type of Property
Mangalore property tax rate
10A residential use
0.50 percent
10B commercial use
1.50 percent
10C non-residential/commercial use
1 percent
How can I pay my property tax online in Mangalore?
The steps that follow are available to pay the property tax in Mangalore online:
Step 2: Click the “Pay Property Tax” link on the home screen.
Step 3: Enter your registered mobile number and submit the OTP in the corresponding field.
Step 4: Select the door and ward numbers at this point, then look for the property. Select “Pay Tax” to proceed to the following page.
Step 5: To find out the applicable tax value for the current fiscal year, applicants can utilize the calculate tax button.
Step 6: Select “Yes” or “No” to indicate whether the property has changed.
Step 7: Examine the comprehensive summary of the SAS to comprehend the property details and the estimated tax amount.
Step 8: Choose the method of payment from the available options. After making the last payment, download the challan for your records.
What is the deadline for Mangalore’s property taxes?
The final week of April 2024 is when the Mangalore property tax is due online.
What is Mangalore’s property tax rebate?
According to the most recent order, a 5 percent rebate is available to anyone who pays their Mangalore property tax online before the deadline or in advance. The rebate will be equivalent to the property’s entire value.
Mangalore property tax calculator
The online calculator on the official website calculates the total tax on a property in Mangalore. These steps can help streamline the Mangalore property tax calculation process.
Step 2: Select the ‘Pay Property Tax’ link from the home screen.
Step 3: Enter and send in the mobile number you registered.
Step 4: Look over the details of your property and click the “Calculate Tax” button.
Step 5: At this point, provide information on the homepage, including your mobile number, email address, property ID, select village, street name or number, Katha number, survey RS number or survey TS number, locality or company name, and pincode.
Step 6: Choose the rented or self-used property and press “Yes” or “No.”
Step 7: Select the property type and then the category type.
Step 8: Enter the plinth factor, total build-up factor, area of land occupied in square feet, and site area in cents.
Step 9: Select the type of property, door number, slum status, and status of exempt property.
Step 10: To calculate property tax, add the floor details, construction type, market value, and year of construction.
Mangalore property taxes are due in advance.
In Mangalore, paying property taxes in advance allows one to do so before the annual deadline. A five percent rebate on the total value is the primary benefit of paying tax in advance. Current regulations also state that individuals who pay advance tax after the tax rate is revised will have their payments adjusted in the following fiscal year.
How to amend your name on your Mangalore property tax
The procedure for renaming the asset may begin by submitting several documents. The supporting documentation includes a copy of the associated housing society’s No-Objection Certificate (NOC), the most recent property tax receipt, and an attested copy of the sale deed. After submitting the request, the officials will review the supporting documentation and grant approval within 15 to 30 days.
How can I get a receipt for my property taxes paid?
Residents of Mangalore can download their property tax receipts from the official website.
Step 2: Select the ‘Pay Property Tax’ option from the homepage.
Step 3: After posting this, type in your registered cell phone number and send it in.
Step 4: Click the search button after entering your door and ward number.
Step 5: Print the property tax payment receipt for your records at the end.
The most recent information and news regarding Mangalore’s house tax
The guidance value of immovable property is to increase by thirty percent, per an order from the Karnataka government. This rate is subject to annual revisions in the Property tax in Mangalore.
Upon adding 30,000 properties to the tax net, Mangalore City Corporation will have a total of 2.13 lakh properties to tax.
MCC will levy taxes on vacant land in March 2023 equal to 0.3 to 0.5 percent of the total land value by the state government’s revisions to the property rates in Mangalore, which had been set at 0.5 to 1.5 % of taxable capital.
In conclusion, timely property tax payments in Mangalore contribute to the upkeep of a spotless record in the official records. Property taxes can be paid online or at the physical municipal centers that have been designated as such. Taxpayers’ overall burden is lessened by obtaining rebates and discounts when they pay their taxes ahead of schedule.
Envision residing in a community that approaches sustainable living! Enter Nandi Meraki, where a tranquil 14-acre lake and 60% green space may await your ideal home. Beyond its picturesque surroundings, the project has several environmentally friendly features, including a waste management system and a state-of-the-art solar power generating plant. Let us investigate its features and USPs in more detail.
Due to its advantageous location, Bannerghatta Road is a well-liked residential area for Bangalore’s end users and investors. It is close to Jigani and Electronic City, two South Bangalore commercial, industrial, and IT hotspots. This urban pocket’s solid social network, which consists of multiple schools, hospitals, and shopping malls, is another noteworthy feature.
Additionally, Bannerghatta Road’s investment potential will only increase with the completion of the metro. Many well-known and up-and-coming developers are considering this site to start their projects because of these businesses and advances in these establishments and developments. One such developer is Nandi Housing, which recently opened Nandi Meraki, a new housing development on Bannerghatta Road. Continue reading this article to learn more about the vital aspects of this project, including the cost, features, and local highlights.
An overview of the project for Nandi Meraki on Bannerghatta Road in Bangalore
Nandi Meraki is a low-rise housing project with four stories along Bannerghatta Road in Tejaswani Nagar. It covers eight acres in total. About 60% of this project is every nature lover’s dream. In total, Nandi Meraki consists of four towers with 444 apartments in 1-bedroom, 2-bedroom, 2.5-bedroom, and 3-bedroom configurations, and Meraki’s registration number is PRM/KA/RERA/1251/310/PR/311222/005573, and it is on file with Karnataka RERA.
Bangalore’s Nandi Meraki on Bannerghatta Road: Highlights of the project
Gazing upon 14-acre lake
400 KW solar power installation on a rooftop
Supported by centralized heat pumps driven by solar energy
Presence of 7,00,000 liter rainwater harvesting tanks
Composter to process organic waste quickly
Ensure maximum recycling with well-planned waste segregation systems.
Bangalore’s Nandi Meraki along Bannerghatta Road: Property options and costs
Nandi Meraki is a four-story building with residential apartments ranging from 1 BHK to 3 BHK. The project’s properties have a starting price of Rs 70 lakh and a maximum pricing of Rs 1.78 crore. The configuration-wise pricing details of the Nandi Meraki units appear in the following table:
Prices and options for properties
Setups
Extremely congested area
Cost
1-BHK
715 sq ft
Rs 70 lakh
2-BHK
1075 sq ft
Rs 1.05 crore
2.5 BHK
1590 sq ft
Rs 1.56 crore
3-BHK
1660-1820 sq ft
Rs 1.63-1.78 crore
Bangalore’s Nandi Meraki on Bannerghatta Road: Payment schedule
Interested parties may reserve a unit at Nandi Meraki using a payment plan linked to the construction. The remaining amount of the flat cost is due upon completion of the various slabs/stages of the project. The payment plan stipulates that Rs 50,000 will be the booking amount.
Bangalore’s Nandi Meraki on Bannerghatta Road: Facilities
More than 60 amenities are available at Nandi Meraki, combining well-being with ease of use. Several of the project’s notable amenities include:
Fitness and Health
Social Spaces
Temperature-controlled swimming pool
The Pavilion
Squash court
The studio
Gym
Herbal Garden Area
Pet Parks
Mini Theatre
Sand bed walkway
Lake viewing decks
Reflexology walkway
Library
Lotus Reflection Pond
Senior citizen deck
Children play area
Semi Outdoor Workspaces
Highlights of Nandi Meraki along Bannerghatta Road, Bangalore
Nandi Meraki is found on Bannerghatta Road in Tejaswini Nagar. Homebuyers like it because of its proximity to employment hubs like Electronic City and Jigani Industrial Area, which are within ten kilometers of Bannerghatta Road. Because Bannerghatta Road is so close to these job centers, it is a popular rental area in South Bangalore.
Bannerghatta Road, Bangalore: Connectivity
A crucial route along Bannerghatta Road, a section of SH-87, connects to several locations in South Bangalore. Near Nandi Meraki on Bannerghatta Road, NICE Road Roas is another vital connecting route. The following highlights the project’s distance from a few significant connectivity nodes:
Ballery Road connects Kempegowda International Airport to the project site 49 km away.
Nearby NH-48 provides residents with smooth inter-city connectivity.
In South Western, KSR Bengaluru is the closest train station, roughly 18 kilometers away.
Bangalore’s Bannerghatta Road: Cost trends
Most homes along Bannerghatta Road, a mid-segment housing belt in South Bangalore, are apartments, plots, and villas. The neighborhood has a limited supply of two-bedroom dwellings. There is also a high demand for three-bedroom options. In Bannerghatta Road, the average cost of a property is Rs 6,200 per square foot. The following table shows that over the past five years, the region’s property rates have grown at a respectable rate:
Bannerghatta Road Property Price Appreciation
Average Cost
Past three years
Past five years
Rs 6,200 per sq ft
15%
25%
Bangalore’s Bannerghatta Road: A possible investment
In addition to its popularity with end users, Bannerghatta Road is a possible residential hotspot for investors. A few significant projects planned along the route would raise living standards and drive up real estate values. Following the announcement of these infrastructure initiatives:
The ongoing construction of Namma Metro’s Pink Line will facilitate access to the metro for residents living near Bannerghatta Road. Kalena Agrahara is three kilometers away.
The Bangalore Suburban Railway’s future Kanaka Line would connect at Huskur, 14 km away. Finalizing this railway line will improve the connection between Bangalore’s north and south.
The projected growth in infrastructure presents the possibility of a spike in property prices along Bannerghatta Road. Nandi Meraki would be a good option if you could be an excellent investor in a project in this area. To make an informed choice, a buyer plans several site visits to verify the projects’ development status and perform in-depth market research.
Are you looking for the ideal Service apartments in Indiranagar, Bangalore? Serviced apartments could be an excellent choice for you. Serviced apartments provide a comfortable, convenient, and affordable stay in this vibrant part of Bangalore that offers several benefits over traditional hotel accommodations. Let’s look at what distinguishes service apartments and why they are the preferred option for many travelers.
Stay in style
Service apartments are typically larger than standard hotel rooms, giving you plenty of space to spread out and relax. A cozy and spacious place to unwind after a long day of exploring the city makes all the difference.
Kitchen for Low- Cost
One of the most significant advantages of service apartments is having a fully equipped kitchen. It means you can prepare your meals at home, saving money on dining out while having the freedom to cook your favorite dishes.
Convenient Services to Improve Your Experience
Service apartments frequently provide additional amenities such as housekeeping and laundry services, allowing you to focus on your vacation rather than worrying about chores. These amenities make your stay more comfortable and convenient.
Affordable Indiranagar Accommodation:
Service apartments in this city are an excellent option for budget-conscious travelers. They offer well-equipped accommodations at an affordable price, making them a popular choice for short and long-term stays.
World-Class Amenities of Your Convenience:
Indiranagar service apartments cater to meet your every need. With first-rate amenities like housekeeping, laundry, and 24-hour security, you can be confident that your stay will be comfortable and secure.
Unmarried Couples Are Safe: Concerned about your safety and privacy? Indiranagar service apartments are for unmarried couples, with many establishments installing security guards and CCTV cameras to ensure your peace of mind.
Luxury Service Apartments for a Lavish Stay:
Indiranagar has a variety of upscale service apartments for a luxurious stay. These opulent accommodations feature fully furnished bedrooms, private bathrooms, well-equipped kitchens, and breathtaking city views.
Ideal for families:
Service apartments are an excellent choice for families visiting Indiranagar. The open design gives children plenty of room to play and explore. A kitchen allows families to cook meals together, making their stay more enjoyable and cost-effective.
Proximity to IT Hubs for Business Travelers:
If you are a corporate executive or a business traveler, service apartments in Indiranagar offer the perfect solution. Located near major IT hubs, these accommodations provide convenience and comfort, allowing professionals to focus on their work without wasting time in traffic.
Flexible Rental Terms:
Indiranagar service apartments have flexible rental terms, making them suitable for short-term stays. You can find an apartment that meets all your needs, whether you are on a business trip or planning a vacation.
Finally, service apartments in Indiranagar offer plenty of options making them a popular choice for travelers and business professionals. These apartments provide a memorable stay in the heart of Bangalore, from spacious and cost-effective living to convenient amenities and proximity to major attractions. So, if you plan a trip to Indiranagar, keep the comfort and convenience of staying in service apartments in mind!
Sarajpur Road is a burgeoning real estate district with numerous development projects. It has one of the finest residences with excellent amenities and connectivity and is the ideal location for property investment.
Sarajpur Road is located in the city’s southeast and has excellent physical infrastructure. It lies quickly near the HSR layout, Electronic City, IT hubs, and Hosur Road. It runs through the Outer Ring Road from Koramangala to Whitefield. Sarajpur has links to NH-44 and other towns like Bella.
Sarajpur’s real estate market is rapidly expanding, and the physical infrastructure is excellent, connecting it to other cities and IT hubs. It connects to other major roads in the city, including the Outer Ring Road and Hosur Road.
The currently under-construction Metro Line will improve connectivity in this area. The Namma Metro Phase 2A line will run through east Sarajpur Road, with a station at Iblur. 2023 will mark the completion of the metro line.
Sarajpur Road is about 45 kilometers from Kempegowda International Airport. Sarajpur’s international airport is 90 minutes away by car.
Popular areas in this belt include:
Madiwala: This region is in great demand for affordable residential property. Due to its excellent connectivity with the Outer Ring Road and Hosur Road and its numerous commercial and retail establishments, the market for budget housing has flourished.
Electronic City: Electronic is another well-known locality that has benefited greatly from easy connectivity and is well-planned in phases. This area also has several educational institutions.
Whitefield: This area has seen property prices and infrastructure developments, primarily in the mid-range category; luxury homes are also available here.
Koramangala: This area is rapidly developing and has affordable and mid-range housing options.
Reasons to Purchase Sarjapur Road Apartments
The increased demand for apartments on Sarjapur Road is due to the benefits of connectivity that it provides to its residents. Here are some of the key connectivity drivers:
It is linked to commercial hubs such as Koramangala and Bannerghatta by radial roads.
The Hosur Road is easily accessible.
The NIICE Road and the Outer Ring Road are both very accessible.
Bangalore University Road is also easily accessible.
Employment opportunities near Sarjapur Road
Here are some of the major employment centers in the area:
Here is the Infosys SEZ Tech Park.
Wipro’s corporate headquarters sits here.
Electronic City lies 28 Kilometers away.
Mysore Road is 16 kilometers long.
The BMIC corridor.
Sarjapur Road’s physical infrastructure:
Sarjapur Road’s real estate market will expand further as a result of several planned infrastructure developments, including:
Ring Road on the Periphery.
An elevated expressway is on the table.
Another reason to buy an apartment for sale on Sarjapur Road is that comparable to IT corporate offices, social infrastructure is a major growth engine.
Indus International School, Oakridge International School, Silver Oaks International School, and Inventure Academy are among the educational institutions.
Market Square Mall, Total Mall, Forum Mall, Gopalan Innovation Mall, Garuda Shopping Mall, Bangalore Central Mall, One MG Road Mall, and many more are available for shopping.
Dr.Levine Memorial Hospital, Motherhood Hospital, Janani Hospital, and Punarjani Ayurveda Hospital are all Hospitals.
Octave Hotel & Spa, Treebo Orchard Greens, The Ritz-Carlton, The Leela Palace, and Hotel Ibis provide hospitality.
PVR Cinemas Forum Mall, Gopalan Cinemas Innovation Mall, and Galaxy Paradise Theatre provide entertainment and recreation.
Restaurants include The Black Pearl, Fisherman’s Wharf, and many others.
Property Types in Sarjapur
Other kinds of real estate are available, such as apartments/flats, villas, and plots, and popular types of property are two and 3-BHK apartments.
1-BHK apartments range in size from 400 to 800 square feet. 2-BHK units range from 700 to 1635 square feet, 3-BHK in sizes ranging from 970 to 2200 sq. ft.
The most popular apartments for sale are 2 and 3 BHK multi-purpose apartments in 1000 to 2000 Sq.Ft.
A 3-BHK Multi-Purpose Apartment in 1400 to 2,000 Sq.Ft. is in high demand for rent.
Rent:
A minimum 1-BHK residential apartment of 275 sq. ft. is necessary for an average of Rs 6,000.
On average, a maximum 4 BHK Villa of 6,500 sq. ft. costs Rs. 2,30,000.
Considering the area’s future growth potential, purchasing your dream home in this part of Bengaluru could be the right choice. There is a plentiful supply of housing apartments in this region, and the metro line and other infrastructure developments will likely result in a healthy increase in property values. The property market in this region will remain strong, and it is also a good investment opportunity.
The main selling points are connectivity, access to social infrastructure, and competitive rates. Prospective home buyers may be disappointed with the slow pace of infrastructure development in this part of town and poor road maintenance. Traffic congestion is also a persistent issue during peak hours, but this will likely improve with the upcoming developments.
Studio apartments with a living room, dining room, and bathroom, with a small kitchen, are ideal for young city dwellers. Because studio apartments in Banglore are the most cost-effective residential option for professionals, most employees choose them. These are most appropriate for the first home because they are spacious enough for a single person with a newly married couple. Studio apartments are also known as efficiency apartments because of the space and cost advantages they provide. These apartments are also a low-cost option for professionals who prefer to own rather than rent a home near their workplace. Bangalore City has seen an increase in the number of homebuyers who choose this segment.
According to the absolute acreage undertaken by realty companies, most home buyers in Bangalore can choose smaller configurations. While 1-BHK units have the highest demand, studio apartments are the current trend. Professionals who frequently fly to Bangalore’s metropolitan city suggested that studio apartments are cost-effective and practical in the long run. Studio apartments are popular among young IT professionals and those working in manufacturing.
Why is a studio apartment a viable option?
Studio apartments are a relatively new concept in Bangalore, introduced only a few years ago. For the following reasons, these apartments have become a viable option for many Bangalore professionals.
Space efficiency:
Studio apartments leave open safe spaces for us to customize to our needs. The Kitchen is unlike most kitchens in three walls and an entryway. The dining and living area could function as a combination of study, work, and dining areas.
Affordable homes:
The affordability of studio apartments pushes them to work well in the Bangalore market. These apartments are ideal for young professionals just starting their careers. Studio apartments are viable options for buyers based on their income. Rather than paying 15,000 to 25,000 in advance rent for a 1-BHK, buyers find investing in studio apartments simple. The EMI would be used to pay rent. Registration fees have also decreased to reduce capital values.
Potential asset:
You will choose a larger home as your salary and family grow. However, if you have saved as much money on rent and have invested in this studio apartment, it will provide you with an asset in the future as well as rental income.
Locations:
Electronic City, an area near Bannerghatta National Park, Vijaya Bank colony, and RT Nagar, are some of the most admired regions in Bangalore. Pricing depends on the amenities offered and the location.
Millennials relocate to metropolitan cities in search of a better way of life, and most individuals have one thing in common: they are all looking for rental housing. Living in a studio apartment is a new trend on the market. Studio apartments are becoming increasingly popular.
It is difficult to find a rental property that is both affordable and spacious in cities such as Bangalore. Given all this, living in a studio apartment might be a wise choice.
Studio apartments in Banglore have a room, kitchen, and bathroom, so they’re ideal for bachelors or live-in couples.
But if you have not decided yet, here are some studio apartment pros and cons to help you make a better decision:
Pros of renting a studio apartment in Bangalore
Studio apartments are slightly less expensive and are ideal for those on a tight budget.
Studio apartments are a low-maintenance investment that is simple to furnish and maintain.
Because studio apartments are small, they help you save money on other expenses like lighting, cooling, and heating.
Studio apartments usually sit in urban areas near commercial hubs and transportation options. As a result, residents of such flats benefit from the advantages of location and connectivity.
Cons of renting a studio apartment in Bangalore
They are not for everybody, particularly couples planning to start a family.
They have room for decoration because too much furniture can make the space appear crowded.
Because of limited space, socializing in studio apartments can be difficult.
Studio apartments in Banglore can be claustrophobic for people unaccustomed to living in small spaces.
You are in luck if you are looking for a studio apartment that needs little space, money, services, or amenities. The amenities in Bangalore’s studio apartments for rent will leave you wanting more. Continue reading to learn more about the facilities.
You can have a fulfilling experience while getting a fully furnished room. Regardless of changing preferences, everything comes down to affordability. Given their tight budgets, millennials prefer living in affordable and convenient housing. You can enjoy all of the luxury and amenities of a studio apartment for rent in Bangalore at an affordable, all-inclusive rate. A studio apartment in Banglore uses technology to improve security in rental homes, such as biometric cards, facial recognition, CCTV, sensors, and so on, making it easier for the residents.
If you are looking for a studio apartment for rent in Bangalore, this is the place to be. Whether you’re a bachelor, a working individual, or a live-in couple, these studio apartments are for anyone seeking a suitable lifestyle on an affordable budget.
Interestingly, the biggest coincidence that can be seen in all metro cities is the fact that in all of these, the southern part of the city experience major development and is always considered as the posh regions. The new flats for sale in Bangalore, especially in the south region are most popularly seen in Kanakpura Road. These flats are mostly in demand by the young professionals working here. However, the demand is not so great here when it comes to 3BHK Flats. The basic demand seen for 3BHK Flats in Southern Bangalore is seen in Whitefield and Electronic city. Southern Bangalore was the first part of the city which was established and is thus the most developed and has reached its saturation. The reason people tend to favour this place is the amazing connectivity with the electronic city via NICE Ring road. The infrastructure is well developed and has high growth potential in terms of real estate if you are looking to buy a property in Bangalore. The area has close proximity to office areas and offers and chilled out the environment.
Also, the east of Bangalore also experiences high demands in residential apartments. The areas like Brookefield, CV Raman Nagar, ITPL, KR Puram and Whitefield offers a lot of 2BHK Apartments which are ideal for you and your family’s needs. These flats are mostly preferred by high-end individuals, mostly the people working in the vicinity. Thus, both these areas are ideal for you if you need to settle in Bangalore with a lavish upfront.
Glitzy tech capital Bangalore just earned a new sobriquet, the costliest Indian city. An analysis of the Reserve Bank of India’s Consumer Price Index (CPI) shows that Bangalore is a couple of notches higher than the all-India cost-of-living average, with financial capital Mumbai just a shade behind.
The CPI is a measure of a standard basket of items, including food, clothing and transport, across cities. In the price race, Delhi is comfortably placed very low in the table, deriving its cushion from the subsidies galore it receives from the Centre. Take, for instance, LPG cylinders, which is a must-have in middle-class families.
According to Bharat Petroleum’s latest figures, Bangalore currently pays Rs 415 for a 14.5-kg refill, Kolkata Rs 405, Mumbai Rs 402 (expected to go up after budget), Delhi Rs 399 and Chennai Rs 393.50. Bangalore’s CPI peaks in the national chart at a whopping 200, followed closely by Mumbai at 199, Kolkata 184 and Delhi a distant 181. The national CPI average is 198.
For homemakers like Koramangala resident Aditi Rao, life in Bangalore is becoming tougher with each passing day. “Frequent hikes in the prices of basic items put our home budget out of sync every month,” said Rao, 34.
Budget analyst Ravi Duggal, who has lived in Mumbai and Delhi, observed that the high cost of living in Bangalore has come about as a result of the IT industry. He said there were different reasons for differential living costs among cities, including the aspiration of people. Talking of India’s two leading cities, he said, “Where education is concerned, for instance, Delhi has more public education facilities than Mumbai.”
What makes Mumbai equally expensive? “There are many factors, the chief being high rentals. Over 40% of the salary of an average Mumbaikar goes into paying rent,” pointed out economist Vibhuti Patel of SNDT University.
New Delhi, December 21, 2017: Investors Clinic, a Noida-headquartered fastest growing real estate consulting giant, has announced its growth plans to expand business operations nationally by setting up offices in Mumbai, Bangalore and Jaipur. These markets have shown unprecedented real estate growth in past few years creating huge demand for professional real estate services.
After its successful operations in Delhi-NCR with impressive growth record of 20% annually in last 10 years, Investors Clinic sees surge in demand for its quality real estate consulting offerings in other markets of the country having immense potential for real estate growth from consulting to buying and selling properties both in residential and commercial projects. The company aims to achieve three-fold growth in next 5 years.
Speaking on this expansion plan, Honey Katiyal, Founder, Investors Clinic said that, “We see a huge opportunity for consulting services in matured markets like Mumbai and Bangalore and growing market like Jaipur. Our vast expertise and experience in real estate consulting for last 10 years have encouraged us to expand our business operations to these markets and win customer trust. Investors Clinic aims at setting operations in at least 10 new markets in next 5 years and is confident of achieving the same, given its consistent year-on-year growth.”
Investors Clinic has already partnered with leading developers in these three markets, as part of its expansion plan to establish itself as an emerging player and cater to the growing needs of homebuyers and sellers looking at professional real estate guidance and expertise in today’s highly competitive and complex marketplace.
Investors Clinic has partnered with pioneer builders like Lodha, Rustomjee, DLF, Godrej, Sobha, Tata, Damac and more as part of its pan-India expansion plans in key cities including Mumbai, Bangalore and Jaipur and looking at giving a value for money experience to their customers.
About Investors Clinic: Investor’s Clinic is a real estate consulting company serving all over the globe. Investor’s Clinic, a pioneer amongst professional real estate consulting companies in India, has served premier corporate houses in both domestic and international arena. With more than ten years of collective experience in this industry, their expertise is in providing best in class customer service through world class technology, process and response mechanism
The increasing commercial demand in the vicinity of West Bangalore is asking the residential sector to grow and lead the city to a better place.
The Mumbai-Bangalore Industrial Corridor, Greater Peenya Industrial Area, proposed Peripheral Ring Road (PRR) Metro Rail connectivity, Dabaspet Industrial Area, integrated townships along the NICE corridor, all these factors make the west of the city an investment destination. The plots in Bangalore in this region is owned by automotive parts, manufacturing, electrical, electroplating, pharmaceutical, chemical, electronics, building materials, aerospace components, garments, castings, forgings, foundries, and scientific instruments industries.
The whole area is well connected to the plunged road built over Peenya international airport, in the Mysore road. It is also connected to NICE corridor as well as the metro rail network.The well established and renowned market of Yeshwanthpur having a micro market with healthcare, retail and other public infrastructure gives a major push to people to come and live here.
Shrinivas Rao, CEO of APAC, Vestian Global services stated that the major factors that increase the rates of property in Bangalore are the presence of economic complexes and industrial sectors with the perfect physical infrastructure and amazing connectivity with all public convenience nearby. It has been noted that after 2008 this western area of Bangalore was influenced by a major hike in IT and ITeS companies which came and set up their base here. These industrial areas included Kumbalgodu and Bidadi which resulted in their nearby localities like Kengeri to become a popular residential choice for those who are employed in this area or the vicinity. According to reports and databases, Kumbalgodu Industrial Area, Bidadi Industrial Area and Global village IT park, together holds a total number of 80,000 employees. Also, after the rapid metro connectivity in this region, it has become very easy for people to travel and save their working hours. With all these factors in hand, the fact that region is well connected to the NICE Road, Outer Ring Road and Tumkur Road gives the place an additional advantage to grow more property in Bangalore west.
Currently, the development that is being done in this region comprises of apartment projects and plots in Bangalore West. The Kengari residential sectors incorporate a large scale of apartment projects and townships in the mid segment value people. It is thus expected that the annual residential sale growth in this region is 6-8 percent while the rental yeild will be 4 percent.
Stop worrying more about investing in a building or a land or any property in Bangalore specially those which are close to lakebeds.
The properties owned by builders near these lakebeds were told not to construct their builders as the National Green Tribunal, in an passed order on May 2016 clearly increased the buffer zone of the lakebeds from 30 metres to 75 metres and announced that no construction will be done around the 75 metres zone of the lakebeds. However, now the BBMP has given out a sigh of happiness. They have clarified that those projects which recieved their contrsution approval before May 2016 can resume their construction. These will be only applicable to those who got licened before the NGT order arrived.
BBmp recently issued a circular on 30th March 2017 which came out with the green signal for the buiilders. Commissioner N Manjunath Prasad ordered that the NGT directive will be now not be applicable for site and properties which already secured their plan before the Green Court came out with their new orders and restrictions. This implementation sent to all eight zonal heads has brought out a relief to the real estate sector and is expected to grow the market as well with the increased rates in such locations.
Now the builders are excited and are offering new deals in their flats in Bangalore lakebeds. These areas are now more costlier than ever. The serenity of the lakebeds of Bangalore has always been an ideal place for all the segments of the society and is much desired specially by old people who plan on living their old age in a wonderful environment as same.
Not only flats, but some builders are now planning on moving to lake house projects. They are now applying for permissions for their beautiful projects from the NGT and are expecting great revenues for the real estate market.
To manage Bangalore’s reputation of the country’s famous IT Hub, the BBMP has come out with a new rule which will be in favor of the technology. To ease the builders who own and want to convert them into a building for residential or office use, the procedure for getting the plan approvals will be done online. This was cut straight to chase the builders won’t have to run to post to seek clarifications. For this work, new executive engineers will be assigned the work of approvals. They will collectively work with zonal town planning officers.
This will be done in lieu of the latest E-Khata system announced in the BBMP budget on Saturday which said to enable the citizens to upload all the required documents and to avail their khatas online itself. Apart from this, the property tax collection which needs to be done will be carried forward by the geographic information system (GIS) in a collection with the Indian Space Research Organisation, according to the chairman of BBMP standing committee, MK Gunashekar (finance and taxation).
A digital survey of the whole Bangalore real estate will be carried out which will include tech parks, malls, and other commercial establishments, as well as the residential market of Bangalore, will be minutely undertaken to ensure accurate evaluation of property tax.
With the high increase in commercial activity in North Banglore region, the demand for residential sector also gets affected. New residential projects are being launched in this area which comprises of both apartments and Luxuroy homes (villas).
Bengaluru provides flats for sale in affordabe prices. The development in this area offers residential spaces for all three budgets; premium, mid range and luxury. Areas like Thanisandra, Yelahanka Doddaballapur, location near airport offers mig segment housing to its buyrers whereas, for luxury living one has to look for available in and arond Hennur Road, Kogilu, and some parts of Thanisandra.
New flats for sale in Hebbal-Yelahanka stretch of Bellary Road, which includes Hebbal and RMV II Stage has luxury apartments in the price range of Rs 8,000-12,000 per sqft. The areas situated beyond Devanahalli till Doddaballapur is very popular as it comprises of a large variety of high-end villa projects and also, plot development projects. The price here ranges between Rs 6,800-12,000 per sqft accumuating an area range of 2,500-7000sqft.
Meanwhile, the plot development projects in this area ranges from Rs 2,150 to 4,000 per sqft. Plots as well as luxury flats in this region are mostly preffered by high net worth individuals and investors due to their ability to serve as good holiday or retirement second home options. Apartments towards Nandi Hills Road are looked at with a keen eye as they range between Rs 7,300-10,00 per sqft. Vijayoura has new flats for sale ranging between 4,500-5,050.
As it is known that there is a large workforce employed in the area of Whitefield, and preferring to live in the vicinity, is increasing up the demands for residential options here for the comfort of the employees.
Once known as a secluded area of Bangalore to the Silicon Valley of India, Whitefield’s story was shaped primarily by the IT Hub revolution that changed the sleepy landscape with Asia’s first tech park which rose up in 1994.
The excellent development that took place in Whitefield and the EPIP zone have seen over the years seems like a page of a fictional book with a perfect ending. Mammoth towers in glass and chrome stand tall amidst natural greenery which has been long preserved by the developers of these MNC acquiring most of the Bangalore properties especially in Whitefield. Many hitherto heavy manufacturing factories have given a big hand to making this a wonderful place with a lot of infrastructural possibilities and residential flats in Bangalore.
It is no wonder that after all these factors these localities in the vicinity of these ultra facilitated tech parks have largely begun to mushroom into elite gated communities of residential buildings. Villas the high priority choice by the people who want to live here and work in these high-end vicinity of business parks.
While the ITPB has singularly driven the demand for residential property options in its vicinity, the other tech parks and business parks in the EPIP zone too have drawn a high demand for housing options ranging from mid-segment apartments and high-end homes enclosed within well-appointed gated enclaves, to villas and plots.
A member of the committee, Jain has stated that Whitefield, Electronics City, and the EPIP zone was a major initiative taken by the government to create the place into something better which eventually turned out to be called as the Silicon Valley of India with a number of reputed Multi Nationals setting up their base here. This is also increased the demand for high-end flats and villas by the people who come here every year from all over the country to earn their lavish living.
Hyderabad is now becoming the new investment destination for the commercial property developers already based in Bengaluru. This is the time when the city’s real estate market is on a revival mode after almost five years of political ups and downs in the city.
Well developed companies such as DivyaSree Developers, Embassy, Salarpuria Sattva, and RMZ Corp have successfully built or still are in the process of building a noticeable commercial portfolio in the city. This, along with Bengaluru, which is also a home to some of the largest IT companies in the world, including Microsoft, Oracle, and Uber. However, the rentals of these cities are still not as high as other cities and therefore the companies are keenly looking at this as a growth trajectory.
As it is mostly seen, the existing customers of the city will be now looking in other cities as it provides them with more options and a higher scale for a better business. This However will result in the same rental prices of Hyderabad commercial property as it is for Bengaluru. Mike Holland, the CEO of Embassy Office Parks said that it can be strongly seen that the Hyderabad infrastructure will grow immensely after the political turmoils in Bengaluru.
Like every other place, Bangalore also hit itself hard with demonetisation. This deeply effected the realty sector which consequenced in the announcements on Akrama Sakrama Scheme, National Green Tribunal’s drive to reduce the lake beds in the city. However, this is now beginning to change with the initial dust of demonetisation finally settling down. With the Union Budget Announcement, which extended a big hand to support the affordable housing, the demands have increased yet again.
Bangalore is reported as the third largest hub for High Net Worth Individuals which increases the demands for luxury housing in the form of apartments or plots in Bangalore. As the southern and eastern zones of Bangalore are popular for their commercial complexes and workplaces, major residential demands are fed by these areas.
With a 4% increase of ready to move in demands, a data was collected about where should buy their properties according to the budget.
For those who wish to manage a housing within 40lakhs have a number of options to choose from sppecially in the IT hubs such as electronic city. 1bhk Flats falls the most popular under this category. Amonsgt married couples who choose to live in the city regarding work, opt for a 2bhk house in Electronic City, Whitefield or Bannerghatta Road.
The residential demand in these areas are the highest and always dominate the popularity charts with a perfect capture of 40% of the total demands.
Apart from this, the Bangalore real estate is not keeping the 3BHK Flats and private villas aside and are launching new apartments under the category of 60lakh to 1 crore in areas like Hennur which have large scale infrastructure, easy connect with outer ring road and the international airport. Apart from Hennur, Kanakpura Road and Hebbal are also set with their ready to move in flats to meet the expectations of investors who desire luxury laced with tranquility.
Now for those entrepreneurs who does not wish to compromise on their lavish living and royalty, Bangalore is providing them plots and private villas in the range of Rs 1 Crore- 2 crore in areas such as Sarjarpur Road and Arekere. These have recently turned out to be a royal investing for the rich entrepreneurs which are mostly HNIs.
Bangalore now has more numbers of high rise apartments. They are providing a new skyline to the high-tech city.
BANGALORE: High rise apartments had become a necessity in Mumbai and other top cities where there is no sufficient space for development. Till recently, there weren’t many high rise apartments in Bangalore mainly because there was sufficient land for developing projects. Continue reading →
Blackstone, one of the leading global private equity and investment firm, is set to amass a huge profit from its Joint Venture in Bangalore.
Realty investment in Bangalore gives a good reap to Blackstone.
Blackstone has, joining hands with Bangalore– centered real estate firm Embassy Property Developments, planned to develop a luxury-oriented residential project. The Blackstone- Embassy group will jointly develop 467 housing units; each unit priced between Rs.3 to Rs. 10 Cr, in the project.
Blackstone expects to gain around Rs.210 Cr from their JV. This is their first big investment in Indian real estate market. In 2011 the global private equity major invested in Embassy Lakeside Terraces which is an ultra-luxury villa project. From their investment in the project, Blackstone is expected to gain around Rs.210 Cr which represents around 28% of the absolute profit. Continue reading →
Koramangala, lying in the South eastern parts of Bangalore, is expected to offer higher returns to the investors. It has become one of the most sought after residential areas in the Bangalore Metropolitan Region (BMR).
Koramangala in Bangalore has recently become a hot home -destination.
Guaranteeing higher returns to the investors, Koramangala has become one of the hotter real estate destinations in India. The large number of upcoming ultra-luxury residential projects, commercial malls and posh villas show how fast the area develops and becomes a better home- destination.
While speaking to Shweta Rao of Economic Times, Mr. Gaurav Pandey, Vice-President of PropEquity Research & Consulting, told that “having close proximity to many established commercial hubs in the Central, East and Southern regions of Bangalore, Koramangala has evolved as a premium residential market.” Continue reading →
Bangalore-centered Embassy Group has entered into talks with JP Morgan, a global financial services group, for raising a real estate fund of Rs.500 Cr.
Embassy Group will invest Rs.500 Cr in Bangalore realty along with JP Morgan.
Embassy Group has entered into talks with the global financial services group for raising a fund for real estate development. The Indian firm plans to invest the fund of Rs.500 Cr into two real estate projects in Bangalore.
Embassy Property Developments plans to develop a top-end villa project and another residential project with IT campus. They have the plan to develop the projects on the Bangalore – Bellary Road.
Embassy Group had recently sealed a real estate transaction with Blackstone, a global private equity firm. This real estate transaction is considered as the biggest commercial transaction of India.
However the CMD of Embassy Group Mr. Jitu Virwani kept his lips closed when asked about their talks with the financial services firm. Mr. Yesh Nadkarni of JP Morgan too declined to comment on the ongoing talks. He told the media persons that as a matter of policy he could not comment on the issue. Continue reading →
Compared to 2011, the office space absorption has fallen in Bangalore. Experts opine that the situation was the result of weaker demand from the IT and ITeS sectors.
Office space absorption in Bangalore fell due to the lower demand from IT and ITeS sectors.
Real estate experts said that the office space absorption in Bangalore has been dropped as the IT (Information Technology) and ITeS (IT enabled Services) did not raise much demand. The reports show that the office space absorption has dropped by 24% last year.
Cushman & Wakefield, a global real estate consultancy, reported that in 2012 nearly 7.3 million sq. ft. of office space was absorbed. This rate of absorption is very lower to the 9.59 million sq. ft. of 2011. If the IT and ITeS sectors had shared nearly three fourth of the total supply in 2011, in 2012 their absorption is just above two fourth of total supply. Continue reading →
Real estate investors of India prefer to have real estate investment in tier two cities now. These developing cities offer higher returns for the real estate investors.
Real estate investment in tier 2 cities is more profitable as it offers higher returns.
The Tier two cities are more preferred by real estate investors now. These cities are noted for their faster development and this is the main factor that attracts the Indian real estate investors to these cities.
Real estate investors’ traditional approach to bigger cities such as Delhi and Mumbai shifts as they remain incapable of delivering higher returns to them. On the other hand tier two cities are emerging as better real estate destinations.
The cities with better job- opportunities are all the more preferred real estate investment destinations. Higher population inflow to the small cities like Pune and Gurgaon prompts the builders to increase the supply.
With the growth of population the commercial needs improve and so does the demand for commercial spaces. These cities better offer chances for business growth as well. All these factors have pushed up the real estate prices as there is an increased demand.
Developed cities do not support Real estate investment as it offers only lower returns.
Leading real estate consultancy firm Jones Lang LaSalle India (JLL) reported that the cities like Bangalore and Chennai will grow along with the expansion of IT centers in the cities. The real estate consultancy firm highlighted the expansion plan of Wipro.
Wipro has recently disclosed their plan of expansion. The firm plans to expand their existing Bangalore headquarters and campus which at present has the capacity to hold 31,000 people. Another 25 lakh sq. ft. of area will be added to the current Wipro headquarters.
IT expansion is taking place in Hyderabad and Chennai as well. These areas’ growth will be dependent on the IT expansion. JLL India’s CEO Om Ahuja opined that the real estate prices in these cities will be more dynamic than in other cities. He added that trends of real estate supply will be different in these areas.
All these features tell the real estate investors to tap new and emerging markets. They can reap sizeable returns from these cities and so these cities remain hotter places to have real estate investment. In short prime real estate investments in tier 2 cities are easier way to become rich now.
