Tuesday, October 1, 2013

Why Bangalore Is the Favorite Real Estate Destination?

The growth in real estate sector has gone beyond expectations, especially in niche areas like logistics & education hubs, budget homes, health care and amusement parks, points out a recent report by FICCI- Ernst & Young and released by S.V Ranganath, Chief Secretary.

The report says, the large-scale growth in these areas happened after the year 2000. Until then, people didn't go beyond the basics of housing or commercial aspects. However, with increased interest on sectors like healthcare, transit-oriented real estate, senior housing, education etc, overall development of the sector is expected to be fast-phased. The report pays special attention to the opportunities in the senior housing sector, where elderly people are assured of the best facilities in terms of healthcare, security and peaceful environment. Bangalore is prominent among the places where such projects are unfolding.

Bangalore, in view of its pleasant climatic conditions is the favorite of many builders interested in building sports cities, wherein focus would be on bringing in reforms to sports activities. With more opportunities in sports sector, more sports-themed townships are expected. Karnataka’s potential to house amusement projects is well known, therefore, builders are eyeing for significant activities in Bangalore in terms of such development. With respect to connecting real estate and education, there is reference to the village, Manipal, which was transformed to an education town. With increased educational potential, such cities are going to attract more people.

The report, also mentions about cities like Kochi and Hyderabad which could be made aerotropolises or airport cities. In simpler terms, aerotropolises refers to cities that are built around airport, with a plan to generate more income through real estate.


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