North Bangalore real estate thrives on IT sector growth
Article
The growth in North Bangalore thrives on IT development as a large chunk of the buyers are the IT professionals working in the localities here. As compared to other parts of Bangalore, localities part of the northern area like Electronic City, Hennur road, Hebbal, Bannerghatta road, BTM Layout, among others are witness to rising demand and capital values too.
According to local realtor M K Khan, "The eastern area of Bangalore is becoming chaotic, and hence all the market has shifted to the northern part as the investors see it as an ideal destination for IT firms," He also added that more action is there in residential space too in northern part.
Many IT firms and companies like Philips and NXP semiconductors have their hold there. Companies like IBM and Cognizant have plans to expand there within 5 years or more. Prakash from Anugreh Estates said that initially the developers here were targeting the mid-income groups but as the buyer interest has evolved with rise in disposable income, villas and high-end apartments too are in demand now.
Prominent developers in this area include Century Real Estate, Sobha Developers, Godrej Properties, among others. The capital value of apartments in this part of Bangalore ranges from 4,000 to 6,000 per sq ft.
In addition, other factors propelling demand here are connectivity to the Airport, city centre and NH-7. Government initiatives and the retail background also play an important role in improving the future prospects of north Bangalore.
Mohammad from Elahi Builders pointed out that localities like Hebbal and Devanahalli in North Bangalore will soon reflect the growth that Whitefield has seen.
North Bangalore real estate thrives on IT sector growth
The growth in North Bangalore thrives on IT development as a large chunk of the buyers are the IT professionals working in the localities here. As compared to other parts of Bangalore, localities part of the northern area like Electronic City, Hennur road, Hebbal, Bannerghatta road, BTM Layout, among others are witness to rising demand and capital values too.
According to local realtor M K Khan, "The eastern area of Bangalore is becoming chaotic, and hence all the market has shifted to the northern part as the investors see it as an ideal destination for IT firms," He also added that more action is there in residential space too in northern part.
Many IT firms and companies like Philips and NXP semiconductors have their hold there. Companies like IBM and Cognizant have plans to expand there within 5 years or more. Prakash from Anugreh Estates said that initially the developers here were targeting the mid-income groups but as the buyer interest has evolved with rise in disposable income, villas and high-end apartments too are in demand now.
Prominent developers in this area include Century Real Estate, Sobha Developers, Godrej Properties, among others. The capital value of apartments in this part of Bangalore ranges from 4,000 to 6,000 per sq ft.
In addition, other factors propelling demand here are connectivity to the Airport, city centre and NH-7. Government initiatives and the retail background also play an important role in improving the future prospects of north Bangalore.
Mohammad from Elahi Builders pointed out that localities like Hebbal and Devanahalli in North Bangalore will soon reflect the growth that Whitefield has seen.
According to local realtor M K Khan, "The eastern area of Bangalore is becoming chaotic, and hence all the market has shifted to the northern part as the investors see it as an ideal destination for IT firms," He also added that more action is there in residential space too in northern part.
Many IT firms and companies like Philips and NXP semiconductors have their hold there. Companies like IBM and Cognizant have plans to expand there within 5 years or more. Prakash from Anugreh Estates said that initially the developers here were targeting the mid-income groups but as the buyer interest has evolved with rise in disposable income, villas and high-end apartments too are in demand now.
Prominent developers in this area include Century Real Estate, Sobha Developers, Godrej Properties, among others. The capital value of apartments in this part of Bangalore ranges from 4,000 to 6,000 per sq ft.
In addition, other factors propelling demand here are connectivity to the Airport, city centre and NH-7. Government initiatives and the retail background also play an important role in improving the future prospects of north Bangalore.
Mohammad from Elahi Builders pointed out that localities like Hebbal and Devanahalli in North Bangalore will soon reflect the growth that Whitefield has seen.
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