Electronic City in Bangalore is the Indian counterpart of the Silicon Valley of US. A vast stretch of 322 acres of land with major IT companies of the world like Siemens, GE, Wipro, Intel, HCL Technologies, CGI, Hewlett-Packard, Infosys, and others have made the place one of the most sought after in Bangalore. The area was a village at the outskirts of the city when these multinational companies inhabited them and built their workforce. Today, the area attracts a large workforce and is one of the largest IT Parks employing a large number of professionals having a considerably higher purchasing power. This has led to an increase of not only the social infrastructure like hospitals, malls, hotels, colleges, schools, and professional education institutes but many residential catchments have developed near the park.
Investing in Bangalore real estate may be a little intriguing and confusing putting you to the dilemma of where you should invest so that the price appreciation would be high but investors on homes and apartments near Electronic City can have little doubts about the price appreciation possibilities.
Why Invest in Areas near Electronic City? | Apartments near Electronic City
Needless to say, there are enough IT professionals in Bangalore who are aspiring to live near Electronic city even if they do not work in Electronic City. The reason is they do not overrule the possibility of getting a job in Electronic City and with the social infrastructure, connectivity and the proximity to metro railway stations it becomes a lucrative choice for the home seekers. The connectivity, infrastructure, and demand of the area assure that it is a good investment with a higher return on investment.
The analysts firmly believe that the prospects of the nearby areas and the properties, homes or apartments near Electronic City is quite high owing to the newly developed roads, transportation facilities, and the growth of population in the area which points out that the homes and apartments near Electronic City would only escalate in price in the future as the demand is only expected to grow.
There are few more reasons why there is predictability about the higher return on investment of the apartments near Electronic City.
The first one is the rapid growth rate of the areas near Electronic City which helps to appreciate the values of properties within months.
The second reason is the growth of Medical Tourism in India as Narayana Hrudyalaya is nearby which attracts a lot of foreigners and people from all parts of India who come to the area for health care purposes.
A land or a property near Electronic City can reap a reasonably high return on investment as there is a perennial demand for homes in the area owing to IT professionals and workforce engaged in the Electronic City.
Availability of property in the affordable range is also one of the factors that would give higher returns and opens doors to get a property at affordable rates. Within 10 kilometers of the IT Park and maybe a little outskirt of the city, properties are still available at lower prices which range from Rs. 1000 per square feet to Rs. 2500 per square feet. This itself, is an opportunity for the investors looking for higher returns on investment.
The growth of infrastructure in the areas near Electronic City exposes a great opportunity for the investors as this factor would help in surging the value of the property or apartments near Electronic City.
Affordability of properties and apartments near Electronic City with amenities is also a factor that would allure investors and residents wishing to own a home in the area.
You’ll Also like to Read : Why Should You Buy Apartments Near Manyata Tech Park?
Nearby Areas to Electronic City
Places like Attibele, Chandapura, or Bommanahalli are nearby areas of Electronic City which were villages but have changed into tinsel towns. In these areas too, the price escalation was noted to be 10 to 15 percent in the last eight to ten months and surely the prices would escalate even at a faster rate once the occupancy rate increases. Attibele is one of the most sought after areas in Bangalore that investors are interested about, as the prices of properties and apartments at Attibele are well within affordability but yet the rate of growth of prices are the highest.
Attibele and the other surrounding areas like Chandapura and even Bommasandra range from about Rs. 1700 to Rs.4000 per square feet which seems quite reasonable to investors and home buyers as compared to other localities of Bangalore. The prospects of price escalation of the homes and apartments at Attibele or near Electronic City is quite high as there is a probability of increment of the workforce in Electronic City as more and more companies establish their offices at Electronic City. Another booster to the area is the Bangalore Elevated Tollway Limited (BETL) which has drastically brought down the commute time from Koramangala to Electronics. Undoubtedly, another advantage is the upcoming Namma Metro which would certainly enhance the communication facility and surge the demand for housing and property in the area.
The bottom line remains that areas near Electronic City and the properties and apartments near Attibele or surrounding areas are a gold mine for the investors as well as the first-time homeowners. The reason is the number of people employed at Electronic City is certainly going to increase in the recent future and the rate of infrastructure development and increment of residential catchments in the area surely points out the value increment of properties would be higher here than any other areas of Bangalore.
Look for super-luxury apartments and properties at highly affordable prices yet located at the most sought after locations.