Premium property segment of Bangalore is largely driven by NRIs

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.

Why JP Nagar is the perfect Investment in Bangalore?

Wondering where to live in Bangalore – Why not look at JP Nagar. This beautiful serene place with all the best facilities available, living here is definitely a great option.

JP Nagar is one of the most sorted after real estate areas in Bangalore. Located in Southern part of Bangalore and is in proximity to areas like BTM, Banashankari and Bannerghatta Road. This area was at first promoted by BDA and is divided into Independent dwelling units, apartments and retail developments. Slowly JP Nagar turned into a major commercial and residential real estate development which also increased the land rates compared to other BDA developments like Jayanagar and BTM.

JP Nagar today consists of Bangalore’s affluent population and has become a major residential area. This area is filled with parks, small ponds or lakes and great roads. JP Nagar id filled with a lot of prominent people of Karnataka, including actors, politicians and other artists.
JP Nagar also has great connectivity in terms of Buses and other road transport. Electronic city is approx 20 Kms away and Majestic is 12 Kms approx. This area is also near Kormangala and other prime areas of Bangalore.

You have a variety of properties in this area. From residential flats and apartments to independent bungalows and villas, you would find all possible real estate development in this area. JP Nagar is divided into many phases. But only 7th and 8th phase is seeing a growth in price trends. Look at the following image to get a brief idea.

Properties in JP Nagar:

Sai Platinum Lifestyle: These are skillfully designed 2- 3 BHK flats with all the amenities and facilities included like club, theatre, Shopping Centre and Gym etc along with Power Backup, ATM, Wifi Connectivity etc. These units would cost you upto 44.24 Lakh.

Radiant Elitaire: These are luxurious 3 BHK flats for 50.79 Lakh – 78.76 Lakh. These units are built with great precision and oozes class and luxury. They are included with amenities like hall, gym, swimming pool, 24 hr power and water supply etc.

Elita Promenade: This is located in the 7th Phase of JP Nagar. These are elite homes with world class facilities and amenities like gym, tennis court, playground, lush green gardens and many more. Elita Promenade are 2-6BHK apartments starting from 1.16 Crore upto 2.99 Crore.

Metropolis mid town: This is also located in 7th Phase of JP Nagar. These are affordable 2-3 BHK flats with all the basic amenities and facilities. These units would cost 48.8 Lakh – 79 Lakh.

Bangalore living is something beyond expectations. With beautiful weather and great surrounding, living becomes heaven. JP Nagar is one of the prime localities of Bangalore and investing or living here is definitely worth your penny.

Trisha Mukerjee

Author Bio: Trisha is a professional writer and adviser on property and real estate. She is an ardent reader, a traveler and a passionate photographer. She wants to explore the world and write about whatever comes across her way.