Brand Bangalore is famous as the IT hub of India. There are not many vacant plots remaining undeveloped anymore, since everywhere you look, there are new commercial complexes appear breakneck speed and that reflects the condition of the real estate market in the city. With a mammoth amount of migration of working professionals, property investment has seen a rapid rise in the city. Every part of the city is being occupied, and that’s the reason why investors and developers are looking for new options in the outskirts of Bangalore. For example, places like Devanahalli, Hosur, Tumkur Road, Sarjapur Road, etc., are developing exponentially. In a nutshell, the outskirts of Bangalore have become lucrative options to invest. Here’s why –
- Saturation: The suburban areas of Bangalore have a seen notable growth with setup of major infrastructures around them. Let’s take Devanahalli as an example. With the development of Kempegowda International Airport (KIA), the place has seen an astonishing amount of development over the years. The development will grow further with the upcoming BIAL IT region. Similarly, places like Whitefield and Electronic City have witnessed huge development and new commercial complexes, malls and other entertainment hubs, and they have essentially become self-reliant integrated townships.
In fact, the real estate market has become saturated inside the city and that’s why corporate giants are opting outskirts as their targets areas to build new offices and IT parks. And with this expansion comes the need for new residential complexes and plots!
- Higher rate of return: A good number of IT and corporate houses are settling down in the outskirts, and along with job opportunities, they also create huge investment opportunities. And since this growth is comparatively new, many home buyers are opting to invest in the outskirts as the rate of return will be much higher over a period of time. Many new residential complexes are coming up as more and more people are joining these companies every month.
- Greener side of living: There’s a different charm in owning a home amidst greenery and serene ambience. Imagine relaxing and unwinding in your own private garden after work. Since the city has already reached a saturation point, it has become almost impossible to find such leisure inside the city. That’s why more people are looking for opportunities outside the city to invest. That being said, connectivity is one of the major factors to consider before you invest, but with the advent of Namma Metro, connectivity will no longer be an issue.
- Varieties of options to choose from - Outskirts are in the limelight for builders too, who intend to construct gated communities, townships, plotted developments, complexes, studio apartments, and private villas. Living in such enclosures guarantee you have good security along with a community of like-minded people around you. Builders have been exploring the outskirts owing to the aforementioned reasons, and they have been coming up with a plethora of opportunities for investors
All developed locations we see now were underdeveloped initially. But factors like speedy development, connectivity, ambience and conducive surroundings played vital roles in turning them into developed locations. A home amidst lush greenery, open spaces and comfortable amenities is what everyone desires for but while investing, you should also consider factors like location, rate of return, security, environment, etc.