Bengaluru, the Garden City is third most populous city in India. The city covers a blanket of lush greens across wide roads, soothing the sunny days for its denizens. The cosmopolitan city houses major commercial and industrial centres. It stands third in the list of expensive cities in real estate in India, making Mumbai the first one. A 1BHK on rent in Bangalore would cost around Rs.15,000 to Rs.20,000 whereas in Mumbai it will be approximate Rs.30, 000 to Rs.40, 000. The difference of price lies due to many major factors.
Let’s ascertain the factors making Bangalore the desirably expensive city of India in real estate.
- About 2500-3000 start-ups have been started in Bangalore, making it a huge market for investors and companies to grow business.
- The most premium schools and universities are held in the capital city of Karnataka making it desirable among youth to reach out like Christ University, IIM-Bangalore, AIMS Institute, etc.
- Approximately 67,000 IT companies are nesting in Bangalore making it so obviously expensive.
- A large number of IT workers and aspirants are present in Bangalore of the country, around 75% of total.
- Bangalore is one of the rare cities with the most amazing places to visit on weekends. The youth always have pre-decided weekends for the variety the city offers to enjoy.
- The city witnesses different flavours of culture considering the variety of crowd it holds. The south beauty hugs different cultures warmly holding a large portion of North Indian crowd mainly, east and west too!
- Due to its ever increasing desirability, the real estate has no choice but grow high above sky. The city holds no space for independent row houses. Apartment is what you see in all directions.
- The real estate builders understand the market quite well, ensuring to play out tricks to provoke sudden purchases. They ensure they provide the youth with all possible amenities. The house is no less than a luxury these days.
- Houses are a status symbol than just a place to stay. Comfort and luxury have joined hands to make sure nothing is left on the platform of “adjustments”. In the pomp and show, we the “Youth” are the flag bearers.
The coming years might reach a saturation state where real estate might not spike overnight. A chance of stable rates is slightly expected dropping a sigh of relief for many of us. Undoubtedly, Bengaluru is a dream city for many dreamers who wish a life of luxury!