Is Bangalore becoming real estate hotspot of NRIs?

Touted as the Indian Silicon Valley, Bangalore recently has become a prime real estate hub. This change is mainly due the dawn of startups and business ushered in by the modern technological advancements. While major IT companies are keen on setting up their head offices, Bangalore is attracting a lot of immigrants being the bountiful ocean of opportunities it has become.

The real estate boom is Bangalore is mainly because most IT/ITES companies are based in Bangalore. The city also offers a pleasant atmosphere and picturesque landscape making it all the more popular to appease to the tourists and general audience alike. Efficient commute systems and easy accessibility too can be treated as main reasons for driving people to move in the city. Affluent lifestyle and modern facilities such as buzzing shopping malls, mouth-watering restaurants and lively night life make one want to move here ASAP.

But things can certainly not be over-looked when it comes to numbers. The current numbers and property trends paint a very clear picture. At a time when real estate has seemed to taken a back seat, property trends suggest that investing in Bangalore’s real estate is very lucrative. Showing an upward trend, the real estate in Bangalore does surely look something NRIs would like to place their bet on.

Statistics clearly identify that real estate in Bangalore is the second preference for NRIs to invest in. It is closing in on the real estate in Mumbai quickly. Properties such as Whitefield, Sarjapur, etc. are the prime real estate investment hotspots for NRIs. When taken into account the lowest locality price for properties in Sarjapur Road have increased by 2% and so has the highest locality price. The current price range for real estate in Sarjapur Road is 4,276-7,178 Rs./Sq-ft from 3,580 Rs./Sq-ft in the year of 2008. In the last five years the rates of residential properties in Sarjapur Road has increased by 6% leading to an average rate of 4,110-4,390 Rs./Sq-ft currently. In layman’s terms Sarjapur Road has managed to register a capital appreciation of 4.5% in the last three quarters leading to an average rate of 4,500 Rs./Sq-ft.

If numbers can speak then the aforementioned are quite loudly screaming that Bangalore does have a huge potential for real estate investments. Apart from numbers announcements of internationally designed residential projects shall also appease to NRIs. Also builders in Bangalore have made it possible for NRIs to directly contact them and gone as far as to develop a separate NRI portal to specifically cater to needs of NRI audience. With added laying off of unnecessary rules and regulations, acquiring any property has become quite easy and hassle free.

All of this will definitely lead to active participation from NRIs in Bangalore’s real estate environment. Evidently Bangalore may even surpass Mumbai to become India’s top most real estate hotspot for NRIs in India in sometime.