Bangalore's rising demand for residential properties

Bangalore is a thriving metropolis with rapid growth in its real estate sector. The city’s vibrant economy and the influx of multinational companies have contributed to a dynamic real estate market. With a large pool of skilled professionals and a growing middle class, there is a significant surge in demand for housing and commercial spaces. Furthermore, the government’s emphasis on enhancing infrastructure and connectivity has amplified Bangalore‘s allure as a lucrative destination for residential real estate investment.

As Bangalore continues to emerge as a tech and innovation hub, demand for quality real estate is expected to rise. By capitalising in BDA-approved plots, investors can benefit from this upward trend, yielding big returns on early investment on a long-term basis. From budget-friendly homes to deluxe apartments, the city offers varied choices for diverse preferences and budgets. Additionally, emerging integrated townships and gated communities have dramatically influenced the real estate scenario in Bangalore.

Key trends shaping the residential real estate industry in Bangalore

Plotted developments

Plotted developments are witnessing steady demand amongst real estate investors. Buyers are inclined towards plotted developments for their appreciation potential, need for open spaces and overall versatility. After the pandemic, demand for plots has exponentially gone up throughout India’s leading cities, including Hyderabad, Bangalore, Gurugram and Pune.

Sustainable development

Beangalore has been at the forefront of sustainable development initiatives in India. As environmental concerns grow, developers are adopting eco-friendly practices and integrating green features into their projects. Ecological features, like solar panels, rainwater harvesting systems and energy-efficient designs, have become commonplace. As a result, buyers and investors are increasingly interested in environmentally conscious properties that offer energy savings, reduced carbon footprint and healthier living spaces.

Affordable housing

Real estate developers have recognised this demand and are actively focusing on affordable housing projects. The initiatives adopted by the government, such as the Pradhan Mantri Awas Yojana (PMAY), have benefitted budget-friendly housing development. These projects cater to the middle-income segment and provide quality housing options at affordable prices. With favourable policies and financial incentives, affordable housing is surging in Bangalore, making home ownership accessible.

Tech-enabled real estate services

The technological revolution has significantly impacted the electronic city’s real estate industry. Property portals, mobile apps and virtual reality tools have transmuted how buyers, sellers and probable investors communicate with the market. Digital platforms offer buyers detailed property listings, virtual property tours and accessibility to real-time market information, endowing consumers to make the right property decisions. Additionally, technology-driven services, such as home automation, smart security systems and property management apps, have gained popularity among homeowners.

Mixed-use developments

Mixed-use developments are becoming increasingly prevalent in Bangalore’s real estate landscape. These projects amalgamate housing, commercial and retail spaces within a single development, lending suitability and producing self-contained communities.

Growing workforce

Bangalore is India’s IT capital and is known as the Silicon Valley of India. With facilities and growth opportunities for companies, employers are setting up new operations or expanding their operations in Bangalore. This signifies that the workforce has been progressively developing. A noteworthy population of millennials live in Bangalore. Thus, the residential requisites are developing at a parallel pace.

Government initiatives

Government initiatives, like RERA, ensure that both the consumer and the realtors are protected. It promotes ethical projects and reduces delays.

(The author is – Managing Partner, Reliaable Developers)

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DR Mahendra Reddy

Dr. Mahendra Reddy is the Managing Partner of Reliaable Developers. A nephrologist by profession, he has a thorough understanding of the many nuances of the real estate segment, and brings forth a successful fusion of both medical expertise and real estate acumen.

With a highly expert team of seasoned professionals in finance, sales, and marketing, he seeks to address the challenges of a new era of real estate buyers. He yearns to bring a structured approach to the highly unstructured field of real estate in India, with more focus on customer satisfaction.