Commercial Real Estate In And Around Bangalore
Buying commercial real estate in Bangalore is one of the most sought-after options for those who intend to leverage the fruits of property boom in India led by its massive Information Technology (IT) sector.
Certainly, the southern state of Karnataka boasts of Bangalore as the IT capital of India, and the city has acclaimed a global stature for its massive software industry. The commercial office space in Bangalore gains strength with presence of software giants like Infosys, Wipro and Satyam that have earned an impeccable recognition for this metropolitan all across the world.
Nevertheless, the saga does not end here as the fire has started spreading to its extensions like the Greater Bangalore and even the sister cities Mangalore and Mysore have caught the attention of investors and end users alike.
Meanwhile, as per industry reports, the cyber city added 1.2 million sq. ft of Grade A office space to its commercial real estate segment, in the first quarter of 2007. As far as the new projects are concerned, most of the movements in commercial property segment are concentrated at Bannerghatta Road and Outer Ring
The Central Business district (CBD) of MG Road is packed with no fresh supplies in the offing and the vacancy rates here are also near zero levels. This is why the emerging real estate markets of Greater Bangalore, Mangalore and Mysore would continue surging up.
Also, Bangalore reels under pressures of jamming roads, shirking power supply and choking drainage systems due to its ever-increasing population. In this case, real estate in Greater Bangalore is slated to escalate as many big companies are reportedly annoyed of the emerging scenario.
Meanwhile, pointers of real estate are quite evident in Greater Bangalore. As a matter of fact, land prices at areas like Hormavu have jumped up by an unbelievable rate of 900 per cent in the past 3-years.
A suit of infrastructure projects have also been lined up for Greater Bangalore at an estimated cost anywhere from Rs 10,000 to Rs 15,000 crore, and the township promises pleasant times in the long term.
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