There is both good and bad news for the realty segment of Bangalore. The good news is that the market is impeccable, and it ranks high on the priority charts of the homebuyers, and the bad news is that the prices are high. Anyways, there is a win-win situation here for both the buyers and the builders, the only difference lies in the fact that these buyers are from abroad!
There has been a tremendous increase in the numbers of non-resident Indians (NRIs), who prefer investing in the real estate segment in Bangalore. These NRIs have been observing the real estate market of the city and the constant hike in the property rates has been the major draw for them. Since the real estate segment of countries like the US is picking up, the investors are looking forward to share the slice of the market pie in Bangalore. It has been easier to generate funds locally.
Reasons why Bangalore real estate attracts NRIs
Great capital appreciation in Bangalore, excellent local lending rates in the UA, eased investment norms by Indian government, foreign direct investment facilities and available property management services have been main driving factors for the NRIs to invest in the real estate segment in Bangalore.
The promising projects
Meeting their demands, the city has a number of projects to offer, particularly in the premium segment. Take an example of Zonasha Paradiso by Zonasha Group in Marathahalli, East Bangalore. The project offers 4 BHK apartments in the varied size range of 3200 – 4800 Sq. Ft, and these properties are priced between Rs. 3.18 crore to 3.55 crore. Another good example can be Prestige Ozone by Prestige Group. These are 3 – 4 BHK apartments available in the price range of Rs. 2.5 crore to 6.1 crore, and a total area range of 2000 – 6974 Sq. Ft.
What’s Ahead!
Considering the high property rates, these properties have been quite a hit among the NRI buyers. To further boost the realty market, government is taking numerous steps to restructure and upgrade the infrastructural aspects of the main city as well as the sub urban areas of Bangalore, so that it can attract more and more FDI in the city.
Real Estate Daily 