Wednesday, 26 October 2016

Concorde Group Review- Bangalore Real Estate: Greater Bangalore Going Great

Development of peripheral and outer ring road in Bangalore has paved the way for real estate development in Greater Bangalore.

Overburdened state of infrastructure in Bangalore and skyrocketing values of residential and commercial properties is yet another reason which has encouraged a slew of corporate houses to shift their base to Greater Bangalore.

The ongoing projects on the highways have resulted in enhanced accessibility and improvement in physical infrastructure at Greater Bangalore. All this has resulted into soaring land prices at Greater Bangalore.

The villages in Greater Bangalore are transforming into townships. Thirty per cent of such development, covering an area of 223.03 sq km, has already taken place.

Property Values

There has been an increase of 20-30% in plot capital values in the last couple of years. Area like Hormavu has already witnessed a skyrocketing increase of 900% in plot values, in the last three years.

A number of projects are planned to come up in greater Bangalore in the coming years. Integrated township projects alone are expected to bring in investments worth Rs 10,000 crore.

Infrastructure boost

To fulfill the requirement of public transport, the Bangalore Metropolitan Transport Corporation has been developing a rapid bus transit system for Greater Bangalore, at the cost of Rs 3,000 crore. To develop the infrastructure and to provide basic facilities of electricity and water amount of Rs 658 crore will be spent.

Real estate market is estimated to witness more than 100 per cent appreciation in near future and any kind of investment being made will result in fruitful gains.

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