Real Estate trends in Bangalore 2023
The Silicon Valley of India, Bangalore had an increase of 33% in real estate ventures in 2020. The home to various tech organizations and start-ups, the city attracts more people, especially younger generations due to its elegant, diverse space filled with opportunities to thrive.
Bangalore also known locally, Bengaluru has been home to multinational organizations(MNCs) such as IBM, Microsoft, Google to name a few along with successful fintech organizations like CRED. The various factors for increase in real estate trends in Bangalore would be population, economic progress, demographic for youth. The city is home to various luxurious properties along with affordable homes.
Affordable Housing- An Overview
With more people migrating to Bangalore the city’s cost of living had risen to an all time high. More people are driven to look for budget-friendly houses due to various reasons like low-income salaried people need to save for family, future and others to invest.
The affordable home spaces have led to developers building affordable housing properties catering to the needs of low-income families.
Affordable housing spaces in Bangalore
- Hoskote — Artha Emprasa Startup City
- Hennur Road — Pride Palatia Phase I
- Tumkur Road — Concorde Spring Meadows
- Kannur — Goyal Orchid Greens
Demand for luxury homes in Bangalore
Despite many preferences towards affordable housing the city has also seen an increase for luxury properties, due to the software culture and many young people wanting to live in costly high-end locations for security and facilities.
The city of Bangalore is home to various luxurious houses from opulent apartments to posh villas to gated communities that consist of various amenities like pools, gyms, 24-hour security, malls, groceries shops to name a few, nearby due to being centered at the prime spot and often seen as status symbol.
Luxury housing in Bangalore
- Tata Promont Luxury Apartments — Hosakerehalli, Banashankari
- Sobha Indraprastha — Old Mysore Road, Rajajinagar
- Prestige Kingfisher Towers Luxury Apartments — Ashok Nagar
Development properties Mixed-Use
The tremendous shift to wanting to ease travel to work, shopping has led to interest in Mixed-use projects which are a one-stop shop that combine commercial, residential and recreation spaces within a single community. This had led to running errands like shopping, restaurants all available inside the community. Further, the recreational spaces help individuals relax and promote holistic living.
These Mixed-use development also feels like being part of a growing community where residents can interact along with having amenities at your fingertips.
Mixed-use development projects in Bangalore
- Brigade Mixed Use Development — Banahalli Village
- Prestige Meridian Park — Sarjapur
- Green Buildings — Emerging Real Estate Trend in Bangalore
High preferred localities in Bangalore
Given below are some of the sought after localities in Bangalore.
1) Whitefield
Whitefield is the most sought after location due to its corporate and residential value. The location is at the center of the city with transportation like buses, cabs, autos and metro.
This location is home to some of the prominent IT work spaces like
- Tech Park
- Bagmane Technology Centre
The location is a popular destination for working class and youth due to numerous recreational malls, parks such as -
- Phoenix Marketcity
- VR Bengaluru
- Forum Shantiniketan
- Inorbit Mall
- Park Square Mall.
2) Electronic City
As the name suggest, this location is home to some of major IT corporations in South Bangalore.
In Electronic City the home prices are varied with — 2 BHK options available for around 15–25 lakhs. This prime location has many hospitals, schools, banks, theaters, and malls that contribute to the cohesive lifestyle.
3) Kanakapura Road
This area has seen a huge growth in recent years due to its connection to the new Metro line that has made transportation easier.
The two major residential projects here include -
- Prestige Prime rose Hills
- Prestige Falcon City
4) Yelahanka Satellite Town
This place has seen a rise due to its residential demand with affordable flats, top schools, supermarkets ,malls along with opening of various IT organizations and the Kempegowda International Airport.
View point on Real Estate Trends in Bangalore 2023
With the ever increasing growth in Bangalore’s population along with economic stability, the city’s real estate market is progressing at a fast pace. This Silicon Valley of India, is home to the most vibrant, dynamic individuals with mixed housing ranges from affordable to higher-end to mixed-use developments. If you’re wanting to invest in real-estate, Bangalore is the market. It’s time to take the step forward for a bright future.
