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.

Diversity and Safety two prime reasons to invest in Bangalore

There are many reasons to live in Bangalore. Two of the prime reasons are – Diversity and Safety. Investing in Bangalore is not only affordable but also the best option compared to other metropolitan cities.

Bangalore gives you a certain sense of security that you rarely find in any other place. Living here not only gives you the benefits of the cosmopolitan metropolitan life, but also the fact that it is one of the safest cities in India. With the job market bursting with new openings, the constant inflow of people in this city makes it also one of the most diverse cities.

These two characteristics make it a heaven for prospective Investors. You rarely find such a city in India. Bangalore is like a mini New York, with the lifestyle and the constant urbanization of areas that were once outside the city has definitely made Bangalore a reason for investment itself.
You don’t need to look beyond Bangalore when you are considering where to invest. This is what you call a perfection of a city. With perfect climate, good people and amazing culture from rock and jazz to great religious places – Bangalore definitely has it all.

People from all around the world come here and Bangalore welcomes all of them with open arms. If you are ever given an option to come here don’t think twice just take that chance.

Where to Live in Bangalore

You have areas like electronic city and Whitefield that are prime areas in terms of the IT sector. If you want to live amidst the city itself and still be able to commute to these places then Kudlu Gate is also an option. Other than that you have the post localities like Kormangala, Indira Nagar etc. that are also the shopping and weekend hub of the Bangaloreans.

You have many new properties that are coming up, which you can invest in. For example Puravankara is coming up with their Purva Westend on Kudlu Gate. This is located in the heart of the city on Hosur road and quite at a commutable distance from both electronic city and Whitefield. Then you have Bren coming up with their various projects on Sarjapur road and around the city. This place is again near Electronic city and Whitefield.

You have many such projects in and around the city that you could consider. If you want to know more, you could go online and try one of the property sites that would help you further in making the decision.

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.

Quick Tips to First Time Home Buyers

Bangalore is home to millions of Indians. With a vibrant multi-cultural social fabric, Bangalore is one of the fastest growing cities in South India.

As an IT capital, it attracts thousands of young professionals. Many people are drawn to Bangalore for its pleasant weather and cosmopolitan culture. And it’s now emerging as the place for start up companies and entrepreneurs.

For a first-time home buyer anywhere, it’s natural to encounter many new terms and terminologies. You might often wonder where to start learning so that you can at least get close to brokers and builders. A little education and knowledge on real estate markets in Bangalore will certainly help you.

This short but essential guide is written for first-time buyers who have limited knowledge on the technicalities of property purchase.

First task first – Set a Budget

It’s common for buyers to stretch their budgets to add more luxury or comfort. While this is natural, you should keep your repayment possible. There should always be a cushion or safety margin in your budgets so that you can take care of other emergencies.

Know About Your Property Papers

A property within in the BBMP area should have the necessary approval certificate from BBMP. Ensure that your apartment’s Khata certificate<<link to related blog>> is in order. Find out if the tax is paid and whose name it’s listed under. Also get the latest encumbrance certificate with details of the last 30 years.

Exercise caution while buying property on agricultural land

Restrictions and complex procedures are involved in buying properties marked as agricultural land. Prior permission from the Government is required. To avoid the tedious process, it’s advisable to buy a converted land instead.

Avail the service of a property adviser

An expert with experience might cost you extra money. Barring the addition cost, their consultation and service will reduce the hassles of purchasing.

Location, Location and Location

We all know how traffic can take productive time away from work and family. So decide on the location carefully by taking into account the location of offices, schools for kids, everyday facilities, etc.

Infrastructure Facilities

While buying your house, check for facilities like ATM’s, hospitals education institutions, shopping centres, entertainment places and eating joints in and around your complex. Also check other facilities inside your apartment as they come with pools, playing areas, parking tiers, security services, gyms, etc.

Final Note…

All these facts will give you a basic understanding of the property. It’s advisable to exercise proper care, caution and study. Also, for the safety note, it’s recommended to deal with reputed real estate developers or leading builders in Bangalore.

About The Author

Hi i am Bharath Joshi, Marketing Executive for Unishire Belvedere Premia a new residential project, that began with an aim of redefining real estate and creating benchmarks for others to follow.