There is no two ways about the fact that Bangalore has been one of the favorites of the real estate enthusiasts. People have always wanted to buy flats for sale in bangalore within 25 lakhs to simple make it their retirement home/investment. All of this was because of the following reasons:
- The wonderful weather that the city has been supporting.
- The ease of transport because of the lesser traffic and also good roads.
- The architecture of the city with the colonial style housing.
- The lush green that the city is home to.
- The slow but steady growth in the real estate market of Bangalore.
- Better appreciation rates by the year.
- Development of the IT and better opportunities.
While all of these have been reasons in the past, there are a few points that are not the same anymore. The weather is deteriorating and the traffic is being compared to that of Delhi and Mumbai. The architecture of the city is now changing; it is not the rich way of life anymore for everyone. The green is reduced to a large extent as well. But there is a boom in the real estate of the city. While many have been wondering why, here are a few reasons:
- The rapid development in the IT:
After the political disputes in Hyderabad, there has been a great shift of companies to Bangalore. More and more companies are looking to build offices in Bangalore because of the potential and talent that the city is showcasing. There is no way that one can ignore the city. When the people are migrating to the city, each of them are looking for an apartment for sale so that they can live in the city.
With many more buyers in the city, there is bound to be a boom in the real estate of the city.
- Better educational facilities:
Bangalore is home to many national institutions and also many other premiere educational institutions. This leads to many people moving from different cities to Bangalore. While people educate themselves in Bangalore, many end up staying there itself because of the opportunities in the city. This leads to many more people buying property in the city and the industry has seen a boom because of the same.
- The restaurant and the pub industry:
The past five years has seen the opening of countless restaurants and also pubs. While pubs have always been the specialty of the city, different restaurants have taken up the hospitality industry like none other. There is an international flavor to the restaurants as well, there are very cuisines in the world that you will not find in Bangalore. There are restaurants for everything.
These restaurants and pubs have made landmarks in the city. This marking of junctions and roads has increased the prices of their respective localities like none other.
- The people:
This is something that is ignored by most people. People tend to ignore that Bangalore is the start-up capital of the world because the people have the money to try out new things. Different product and service industries have been successful here. The people are flexible in terms of the property they buy, they are willing to give it all a chance. Also while people are moving to Bangalore to start their companies, they end up using land for different purposes and make increase the worth of the property.
- Physical boundaries of the city:
Believe it or not, the past five years has not seen Bangalore grow figuratively only; there has also been physical growth in the city. The development of the city is now stretched until Whitefield on the east, Devanahalli in the North and until different corners which were not even considered to be a part of the city.
Considering this development is undeniable, the prices of land in the city have also increased. Any apartment for sale in Bangalore is well receive because of the reaching development.