Who Is To Be Blamed For All The Mess In Bangalore?

Recently the investors of property in Whitefield and other property in Bangalore were shocked when the city was flooded. As a correction measure the state government decided to demolish illegal residential property in Bangalore. Who is to be blamed for mushrooming of Bangalore property?

Business opportunities and jobs have attracted migrants to the city. This raised the demand of property in Whitefield and other property in Bangalore. However migrants cannot be blamed for the same as they are not responsible for Bangalore development and maintenance. It is the politicians and civic authorities who have to look into the matter the migrants are playing taxes and yet they are surviving by buying everything from water to drink, diesel for electricity, etc. Some people are even employing private companies for garbage collection. People who have bought residential property in Bangalore are complaining about apathy of the government.

Hundreds of Bangalore property has been created without proper town planning. There is no proper drainage system and as a matter of fact most drains are blocked by mud and wastes. Concrete road drains constructed without sedimentation holes are just elevating environmental disasters as ground water level are dipping each year. Also the land mafias are also filling lakes and other water bodies with soil so that they can claimed as lands which need to be developed.

Experts however also partially put the blame on owners of property in Whitefield and other property in Bangalore. A number of owners of Bangalore property have converted their garages and parking lots into commercial establishments such as beauty parlor, boutiques, doctor’s clinics, stationary shops, etc. as a result one sees clogged roads as cars as well as two wheelers are parked either on the footpaths or on the roads. Such practice should be strongly discouraged and owners of residential property in Bangalore who are indulging in such practices should be severely penalized.

Bannerghatta Road Witnesses a Boom In Real Estate

As per studies on property India, Bangalore has been witnessing a steady boom in overall residential realty demand. Additionally, demand for real estate Bangalore India is now being concentrated in areas which are witnessing huge growth in infrastructure and other civic amenities. Bannerghatta Road is a prime example of this trend according to any reputed property site in India. This is because of the Government’s initiative to widen the Bannerghatta Road to 45 meters in opposition to the decision taken by the Bruhat Bangalore Mahanagar Palike or BBMP to widen it to a maximum of 35 meters. Though this project had been on the drawing board for a long stretch of time, issues like land acquisition and infrastructural logjams kept it pending for a prolonged period of time. This news has come as a shot in the arm for realtors who are building projects on this well connected stretch. Bannerghatta Road is actually regarded as a state highway which links to places like Anekal, Jigani and more. The entire Road runs for a distance of 49 kilometers and this provides ample scope for developers to come up with premium projects here. Additionally, the proposed construction of a third lane from Nagvara till Gottigere of the Namma metro will also lead to decongestion of traffic on this important road. This lane will run right in front of the Indian Institute of Management or IIM. As anticipated, demand for quality residential properties for sale in Bangalore will rise heavily along this stretch and values of properties will escalate rapidly according to experts.

The road widening project has brought about a lot of cheer for drivers, motorists and aspiring property buyers alike. Developers are also relishing the prospect of renewed demand for residential property in Bangalore on the back of this development. However, several private lands, apartment complexes and other buildings will be acquired by the State Government for widening this road under the Transfer of Development Rights instrument. Land will also be given by several technical companies, educational institutions and hospitals for this welfare project. For aspiring investors, this is definitely the right time to snap up property in Bannerghatta Road as values are set to rise immensely in the future.

Rentals Rise in Bangalore

Buying a land, plot or flat in real estate in Bangalore is becoming unreachable and therefore more and more people are choosing to take a residential property in Bangalore on rent which lies in close proximity to their office location. The capital city of Karnataka is witnessing lack of space making it difficult for people to find a suitable residential property in Bangalore to purchase. Even though currently there are no buyers in the market the prices of Bangalore property seem to rise unfailingly. It has been seen that in the last few years people who wanted to buy a property in Bangalore at affordable prices were forced to look in suburban areas or on the city’s outskirts. But prices of Bangalore property in these suburban locality have also sky-rocketed, this has left a bad taste in the mouth of the buyer who are clueless about how to busy a suitable property Bangalore.

Fraudulent property deals, delay in possession of property in Bangalore, fake promises by dealers, have made investors wary from investing in property Bangalore. It seems that property in Bangalore can now only be afforded by the rich and affluent. This is the reason why the Bangalore property market does not invoke any interest from both end-users and the investors. Skyrocketing property prices have made Bangalore property market unsuitable for buying and therefore for many people choose to take Bangalore properties on rent. Also, traveling in Bangalore is a headache and so people prefer to pay extra money to rent a flat near their office in exchange for comfort and convenience. Since the supply of properties in Bangalore is not increasing according to the huge demand, the rentals are also now increasing and touching the roof, now only time will tell when will rentals in the capital city of Karnataka will stabilize.

Investors eyeing to invest in Bangalore property

Bangalore is a lovely city with pleasant weather and geographical location. The excellent connectivity and job opportunities make the city a highly preferred destination to live in. With people searching for properties to settle down in the city the demand for Bangalore property has increased both in the domestic and global realty market.

Although the city has witnessed a demand of property, buying a property in Bangalore has become costlier. The city’s residential real estate market has grown over the years and recently more than 35,000 residential units were launched to meet the housing demand.

Bangalore property is considered to be lucrative and so it attracts investors both within the city and overseas. With the launch of residential units the absorption rate has also increased. Among the various locations of the city, South Bangalore has witnessed the highest number of new launches. The areas attached to the outer ring road are some of the prime residential locations that working class highly prefer because of the excellent connectivity to the offices.

The North Bangalore is preferred for both office and residential space. In this region, construction of various housing is in the pipeline. As more major developers are entering the real estate market to meet the housing demand it is expected that the prices will be slashed which in turn will benefit home buyers.

With the coming of new infrastructure projects, the value of Bangalore properties has escalated. Moreover, the government is also framing policies and infusing crores of rupees to boost the infrastructure of the city and improve the standard of living. However, it is a known fact that with the new infrastructure projects with shoot up the value of the Bangalore property.

According to reports, the city is best for expatriates to live in. Expats always prefer for rental flats Bangalore  so that they can easily shift in the future without hassle. Moreover, with the coming of new multinational companies setting their corporate offices in the city the demand for rental flats in Bangalore has increased.

Buyers have become cautious and instead of relying on real estate agents, they are searching for flats in Bangalore with the help of realty websites. The realty portals let them browse for properties, developers and compare prices according to the budget.

Bangalore property has emerged as a favorite investment destination for investors. With premium villas and luxury flats are coming the value of the properties are expected to increase manifold.