Speak to anyone who has lived in Bangalore for about three decades and ask them about the working of the city. The description you will receive from them is going to be very different from what the city is right now. They have seen the ‘old’ Bangalore and loved it, and are not essentially fond of the present state the city is in.
Of course there isn’t an issue with the state of affairs in the city right now, but it is not in the best of its condition. The rapid development has led to the progress and diminishing of many industries. The real estate for example is an industry that has boomed in the past couple of decades and there are many proofs of the same.
Changes in weather:
This is one of the most prominent changes that has taken place in the city. The city which supported a hill station like climate all year round is now a hot mess in the summers and the winters are not too cool either. This has been one of the factors which has kept people from buying properties in Bangalore.
There was a time where investors bought flats for sale in bangalore north so that they could make it their retirement home and there are many like that today, but it is not case anymore.
The past two decades the city has witnessed are nothing short of an example that the world follows for development. Right from when IT took off in India, Bangalore has been a hub. With the incoming of people from different corners of the country and the world, Bangalore showcased development like none other.
With the increase in the number of people came the increase in the number of industries as well. There has been progress and promise in every industry that has set foot in Bangalore. Right from the food industry to arts. With this progress, Bangalore has also become the startup capital of the world. There are many new projects in Bangalore with regard to various industries.
All of this progress has led to a solid improvement in the real estate industry as well. The incoming of students, professionals and other people has created a demand for new projects in Bangalore in terms of real estate. There are builders who are now trying to meet with the demand like never before and there is no stopping them in the near future.
Physical boundaries of the city:
The city seems to be growing physically by the day. Every month, there is a premiere institution, IT Park, residential complex and other such things cropping up in the outskirts of the city. Big companies are also moving their offices there because of the sheer availability of land in these areas. This advancement leads to the extension of the physical boundaries.
Real estate developers are now working towards making it all the more comfortable for the people to live in these localities. This leads to development in other sectors too and also draws the attention of the government to focus on development. The real estate industry has seen a considerable progress because of this.
The localities which were considered a part of the city but far from the heart are not centers of development and commercialization. Prices of land in these areas have now gone up my more than 10 times fold when compared to what they used to be a decade ago. The heart of the city is not only shifted, but is also divided. Each locality is now sufficient for the inhabitants because of the advancements of facilities and amenities.
All of this has led to the rise in the real estate prices. If you are someone who wants to invest in Bangalore – keep in mind that you will not be disappointed in the returns that you receive on your investment.