5 Reasons behind Bangalore’s Cushioning Against Real Estate Policy Changes
2017 was a year of many ups and downs for the real estate industry. It was the year when RERA and GST laid the foundation for a drastic shift in the entire mechanism of business operations. The change also raised many questions among homebuyers in the country. However, Bangalore’s real estate market seemed to have had minimal impact on the major financial and legal changes that were implemented. And there are several reasons behind the cushioning display of the city. These are:
1. STABILITY
Because of the end-user-driven nature of the market, the market has remained comparatively stable as opposed to cities like Mumbai, where investors are in the higher percentile. Residential plots in Bangalore are one of the highest selling products in the realty market.
2. IT ESTABLISHMENTS
Since the city is home to man IT corporations, hence the name ‘Silicon Valley of India’, the population of white-collar professionals is high in number.
3. CLIMATE
Owing to the clement weather of the city, Bangalore offers a wide spread of realty projects for buyers from both end of the economic spectrum; from uber-luxe to affordable housing, Bangalore is where one can find the best of both. The rise of reputed builders in Bangalore is the evidence for the booming industry here.
4. PROFESSIONALISM
According to many, the professionalism exhibited by developers in Bangalore are by far apart from elsewhere. This has become one of the most encouraging elements for both commercial and residential buyers to dive into the purchase.
5. METRO AND INFRASTRUCTURE DEVELOPMENT
The launching of the metro and various infrastructural development initiatives such as roads have been a driver for the market here, despite the changes in national policy. The property prices have been on the rise even though other cities are facing a crisis.
Clearly, Bangalore has emerged as a champion in the recent challenges that the entire nation has been facing. And these reasons aren’t just self-explanatory but also a learning point for other cities to hedge themselves against such future events.
1. STABILITY
Because of the end-user-driven nature of the market, the market has remained comparatively stable as opposed to cities like Mumbai, where investors are in the higher percentile. Residential plots in Bangalore are one of the highest selling products in the realty market.
2. IT ESTABLISHMENTS
Since the city is home to man IT corporations, hence the name ‘Silicon Valley of India’, the population of white-collar professionals is high in number.
3. CLIMATE
Owing to the clement weather of the city, Bangalore offers a wide spread of realty projects for buyers from both end of the economic spectrum; from uber-luxe to affordable housing, Bangalore is where one can find the best of both. The rise of reputed builders in Bangalore is the evidence for the booming industry here.
4. PROFESSIONALISM
According to many, the professionalism exhibited by developers in Bangalore are by far apart from elsewhere. This has become one of the most encouraging elements for both commercial and residential buyers to dive into the purchase.
5. METRO AND INFRASTRUCTURE DEVELOPMENT
The launching of the metro and various infrastructural development initiatives such as roads have been a driver for the market here, despite the changes in national policy. The property prices have been on the rise even though other cities are facing a crisis.
Clearly, Bangalore has emerged as a champion in the recent challenges that the entire nation has been facing. And these reasons aren’t just self-explanatory but also a learning point for other cities to hedge themselves against such future events.
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