The Silicon Valley of India is one of the top residential markets in India. Residential properties in Bengaluru are at their highest demand. From an investment perspective, there are basic factors that define a residential property: optimal price, connectivity and excellent infrastructure.
Over the last few years, there is one locality in Bengaluru that has witnessed tremendous development – North Bengaluru. The area has flourished under the watch of the airport authority, city infrastructural bodies and global commercial giants, fast becoming one of Bengaluru’s leading investment hotspots and featuring on every investor’s radar. Here are some of the major benefits of investing in North Bengaluru real estate.
India’s 1st Aerotropolis
BIAL is planning to expand the Kempegowda International Airport into an aerotropolis or a mini city built around an airport. Taking inspiration from state-of-the-art international airports like Singapore’s Changi airport and Germany’s Frankfurt airport, the aim is to make Bengaluru more business-friendly. By having everything close to the airport, the frequent flyer can easily make a trip to the city, finish the meetings and still manage to get in a few hours of shopping – all this without leaving the airport complex.
Upcoming commercial development around the region includes a hardware and an aerospace park with global companies such as Wipro and TCS. This is set to create at least 2.5 Lakh jobs in the area.
With the Government’s announcement to revive the ITIR (Information Technology Investment Region) project, this initiative would generate about 40 Lakh jobs in the region. The first phase of the project is expected to be operational by 2020.
Nagawara in the south of the city is set to be connected to the airport in the north via Phase II of Namma Metro. A 33 kilometer proposed High-Speed Rail Link (HSRL) is also in development, connecting central Bengaluru to the airport.
Residential Property Growth
With the promising developments – commercial and transportation – the planned infrastructural growth means that the population of North Bengaluru will reach approximately 25 Lakh people within the next decade. This will lead to a surge in demand for residential properties.
When it comes to property investment, North Bengaluru is one of the most desired markets for excellent capital returns. Even features-wise, this area is area is home to the best-in-class and most futuristic projects with modern amenities such as voice assistants and smart home automation systems. For a location with great prospects and world-class properties, North Bengaluru is one of the best places to invest in real estate.