Are you on the lookout for your next home? We know. It’s scary, right? There are so many things to consider. So many factors that could go wrong. With the news of the Indian economy struggling big time and the real estate market facing strong headwinds doing the rounds, it is quite natural for you to be circumspect. Treading with caution is always recommended.
However, if people are telling you to stay away from the real estate market, we’d definitely urge you to reconsider. And we have good reasons to back our argument.
Let us tell you why it is the best time to look for villas and apartments in Bangalore, India. Over the last few years, the Bangalore real estate market has surged ahead in the race, leaving even some tier 1 cities far behind. There are quite a few reasons for that.
To start with, the job market in Bangalore has continued to grow and prosper. With more and more jobseekers moving into the Silicon Valley of India, there is an acute need for quality homes. Moreover, Bangalore consistently creates high-paying jobs. Therefore, it’s not difficult to connect the dots and conclude that the salaried class and other professionals in the city are looking to invest in sensitively designed homes with modern amenities. And despite some real pain points like traffic snarls, water logging, and poor road conditions in some areas, Bangalore is well and truly on course to establish itself as a leading metropolis and global business centre.
If China is the manufacturing capital of the world, then India is certainly its software base. For India’s consumption-led economy, Bangalore plays a major role. It generates billions of dollars in revenues. Thanks to its pleasant climate, absence of protectionism and attractive incentives for businesses, and a great ecosystem that nurtures and rewards talent, it has attracted top companies from the world of aerospace, manufacturing, and technology to set up base.
The demography of Bangalore is truly diversified. Over the last 2 decades, the population in the city has grown at an average annual rate of 3.9%. With an ever-expanding pool of skilled manpower, Bangalore continues to be the darling of investors and enterprises. Therefore, it isn’t hard to believe that Bangalore is home to some of the best villa and apartment projects in India.
Once at the vanguard of the outsourcing boom, Bangalore today is known as much for the service industry as it is known for the research & innovation labs. With economic activity on the upswing in the city, you can well imagine how much of an impact the economy has had on the residential and commercial real estate industry, catapulting Bangalore to the league of the hottest real estate markets in the country.
Better physical infrastructure fueling real estate boom
Bangalore, sometimes referred to as the Garden City of India, has for a long time suffered from lack of physical infrastructure like good roads and proper waste management system. However, the city is currently undergoing rapid transformation. While Metro will crisscross the city once operational and reduce travel time, proposed arterial roads are also expected to reduce commuter hardships greatly.
As expected, improvement of roads and infrastructure, is acting as a tailwind for the real estate market in the city. For example, with the construction of the Outer Ring Road and the Peripheral Ring Road, connectivity has improved drastically. With broader and better roads, not only has the safety concerns been put to bed, but the travel time has also come down substantially. Thanks to reliable public transport and excellent roads, people today don’t mind staying in a suburb and travelling to downtown Bangalore on a daily basis.
Projects in the pipeline that are expected to boost the construction industry
So far, we have been discussing the positive impact that improved connectivity has had on the real estate sector of Bangalore. Let us now look at some proposed projects which will be a real shot in the arm for homebuyers and sellers alike.
One of the most impactful projects in the offing is the Metro Rail. Apart from cutting down on travel time and connecting faraway places to the commercial hubs, it is also expected to create jobs and generate revenues. That’s because housing projects, business parks, and entertainment zones, are expected to come up around these routes.
Other important infrastructure projects that are being considered are new and improved superfast trains, new railway corridors, and monorail.
Transport and infrastructure has always had an unbreakable connection to housing. When one undergoes transformation, the other sees increased activity. Livability has improved in Bengaluru due to better homes and smarter road linkages.
If you’re worried that this is not the right time to buy a home, let us tell you something. There has never been a better time to buy an apartment or a villa in Bangalore, India. There will always be a certain degree of volatility in the market. Focus on buying the right home, staying well within your budget, and finding the right financiers. If you do these, you can find a great deal, even when there are headwinds or market inertia.
Improved social infrastructure equally responsible for the growth of luxury housing
The true identity of a metropolis lies as much in its physical infrastructure as in its social infrastructure. Wondering why? Just think. Can you imagine beautiful homes and gated communities without schools, colleges, hospitals, malls, restaurants, cafes, or shopping centres in the vicinity? Do you think that prospective buyers would ever show any interest in such homes? No, right?
This is precisely why most residential housing projects including the best villa projects in Bangalore have come up in neighbourhoods that provide important benefits of urban living. Bangalore is home to several reputed schools, world-class universities, and state-of-the-art medical centres. With a home in Bangalore, you can give your children, spouse/partner, and aged parents the life they deserve.
If you’re out looking for a premium villa or a spacious yet compact apartment, visit a Total Environment experience home today to get a feel of inspired living. You’d love it. Trust us!