Bangalore has slowly and steadily been growing as India’s IT capital and is even known by the name of Silicon Valley of India. Biotech, BPO, KPO and manufacturing are some of the other industries that are also growing in Bangalore apart from IT and ITES industries. The startup culture is also growing in geometric proportions. With facilities and good growth opportunities for companies, employers are preferring to set up new operations or expand their operations in Bangalore. This also indicates that the work force itself has been steadily growing. A significant population of millennials reside in Bangalore for its employment opportunities. The housing needs are thus growing at a parallel pace. Today’s youth are also very particular about their homes and see it as a good investment in their early years of earning.
With the Bangalore city becoming more and more cosmopolitan day by day, the elite home buyer has more specifications that they look for in homes. Regular and plain homes are not expected anymore. Sustainability is taking a big leap currently. Sustainable homes, smart homes, optimized resource consumption are some of the requirements that a modern householder expects. Apart from that, the need for good amenities is also becoming essential.
The modern Indian does not just buy real estate for living. With increasing incomes, the youth are starting to think about long term investments for futuristic returns. Income from rentals of a second home is a concept that is gaining popularity today. Apart from that, folks who may have migrated outside India for work, but look to come back after a certain period, prefer to buy homes as an investment. The option to invest in real estate is becoming a big trend today and it does indeed promise good returns in the long term.
Today the Government has come up with many reforms in the growth and development of Bangalore city. Apart from infrastructure development, they are also coming up with guidelines and references to ensure that real estate does not hamper the development of the city, but rather support it sufficiently. Initiatives like RERA ensure that both the consumer and the realtors are protected. It promotes ethical projects and reduces delays. Also, the fact that rules are more stringent especially close to natural water bodies and lakes, ensures that the city does not succumb to the concretization and maintains its harmony with nature.
The increase in the millennial workforce in Bangalore has set off a trend of co-working spaces and co-living spaces. The hybrid work culture indicates a growth in this trend. In recent times, we see a large number of co-working spaces coming up in Bangalore, to support young and developing organizations. This is adding to the commercial real estate segment with innovation in work spaces. On similar lines, the need for co-living spaces and shared accommodations are growing. This helps the young generation to cope with job changes and an initial adapting of the corporate scene.
The above-mentioned reasons see a sharp push for the real estate sector in Bangalore. There would be many positive changes in the near future and an increased demand in the realty segment in the coming days.
Prestige Park Grove is a premium project to be launched by the Prestige Group in the elegant surroundings of Whitefield. The project is a meticulously planned and exquisitely developed residential property that emphasizes quality and comfort. It is indeed the best project to invest in with guaranteed profits in return for potential investors. Prestige Park Grove is a wise source of investment for investors looking for a good rental and resale value. Every project from this renowned builder comes with a promise of luxury and excellence. Additionally, the project's location is also a good choice as an investment. Whitefield is a hotspot locality of Bangalore today, and real estate investment is assured of good resale rate. Many people are looking for residences, adding to the value of an investment in property here.
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