Bangalore is an IT capital and hub for south Asian nation. Profile of developers within the town is extremely smart.’ Bangalore’s property market received the most non-public equity investment of nearly Rs 2,000 large integer within the country throughout January-September 2013 with exaggerated demand for hired workplace assets from institutional investors, in keeping with property authority.
Sobha Square is one of the brand new creation by the reputed real estate builders Sobha Limited.
Being the IT hub of India, Bangalore has a multi-cultural population with good social infrastructure, excellent educational institutes and constantly upgrading physical infrastructure. Currently, the most promising residential micro-markets are Outer Ring Road (ORR), Sarjapur Road, Whitefield and North Bangalore
Luxury Residential:
Bangalore is the third-largest hub for High Net worth Individuals (HNIs). It is estimated to be home to over 10,000 individual dollar millionaires. Bangalore has a large base of expatriates who live and work in the city.
The residents are well travelled, cultured and have sophisticated tastes. There has been increased demand for high-end residential apartments in the city, particularly in the Central Business District (CBD), Secondary Business District (SBD), Whitefield, North Bangalore and Outer Ring Road sub-markets. We expect consumer demand for high-end residential projects in these sub-markets to be steady over the short term.
The Sobhasquare project is conveniently located in Kogilu Cross, Yelahanka, Bangalore and enjoys close proximity to all social facilities.
Bangalore is one of the most promising markets for villa projects in India. Villa and row house developments are most active in the North Bangalore, ORR, Sarjapur Road and Whitefield micro-markets. The main driving factors for this segment are social infrastructure, proximity to workplaces, good physical infrastructure and access to medical and educational facilities. Because of these reasons, micro-markets such as Whitefield, the ORR IT corridor, Electronic City and few areas in North Bangalore have witnessed a steady demand from the mid-income segment.
Affordable Housing:
The affordable housing concept has gained ground in Bangalore City, mainly due to a few graded developers like Purvankara, Brigade Group, Shriram Properties, Golden Gate Properties, Ozone Group and Nitesh Estate who are focusing their projects for customer segment. In most cases, the housing units are made affordable by reduced unit sizes, compromising on civic amenities and other USPs which were typically provided as differentiators to the competing projects in the micro-market/city.
With increased demand, ‘affordable’ housing projects have witnessed an increase in the capital prices and are now priced higher than or similar to mid-income segment projects. These projects have also seen substantial rise in capital values because of increased cost of land acquisition and construction. These include Tata Housing, Usha Breco Realty, Godrej Properties, Ashoka Group, Jannaadhar Construction, CSC Builders, Brigade Group, etc.
Overall Demand Scenario:
Central (CBD) & Off Central (SBD):
Low supply and high demand. Due to low availability of large land parcels and high capital values, these micro-markets have seen a limited supply of residential developments. These markets have very good social and physical infrastructure. Nitesh Park Avenue, Prestige Kingfisher Towers, Westcourt Cityview, ETA Beau Monde, 77 Degrees East, Sobha Indraprastha and Prestige Edwardian are some of the high-end projects in these micro-markets.
North Bangalore:
The demand for high-end residential units remains high in the North Bangalore region. Residential real estate activity in North Bangalore has gained traction post the commencement of the Bangalore International Airport. The projects located around Hebbal, Bellary Road and surrounding areas are in the luxury segment. North Bangalore is assured to be the next economic center of Bangalore. Proximity to the International Airport and planned social and the physical infrastructure in the North have boosted development in the area. Embassy Lake Terraces, RMZ Latitude, Karle Zenith, Equinox, Embassy Boulevard are some of the high-end projects in the North Bangalore.
South Bangalore:
The demand for high-end residential developments is low in the South. The housing requirement in this area increased after Electronic City established itself as an IT Hub in this micro-market. However, it did not attract premium residential developments due to poor urban and social infrastructure.
East Bangalore:
Whitefield as a micro-market has developed into a self-sustaining area. Along with being an IT destination, this area has good social infrastructure and developing physical infrastructure. Hence, the demand for luxury residential developments remains high. Adarsh Palm Meadows, Prestige White Meadows, Chaithanya Sharan, Windmills of Your Mind are some of the luxury projects in this market.
West Bangalore:
This micro-market has not been successful in attracting many real estate developers as it fails on the count of good social infrastructure. It is mainly dominated by industrial developments and has seen hardly any developments in high-end residential developments.
Factors Influencing Appreciation:
The following are the factors influencing the capital appreciation and rental potential in Bangalore:
Growth in the IT Industry and a rapidly increasing number of High Net-Worth Individuals, and movement of expatriates. The proposed infrastructure by the Government (Peripheral Ring Road, Metro Rail, Signal Free ORR, High Speed Rail Link, Mono Rail, Elevated Expressway). The proposed SEZ and IT parks in North Bangalore. (ITIR in Devanhalli, Aerospace SEZ, Devanhalli Business Park).