Real estate statistics show that property valuations in Bangalore are on the rise. This increase in appreciation is due to a variety of factors such as demographics, location and interest rates that all play a small but significant role in contributing to the price of the property. There has also been an increase in the number of innovative real estate projects that offer excellent amenities at a very competitive price.
Purchasing real estate is a huge investment decision for many and it essential that the property ticks all the boxes before you take the leap. Looking at the big picture and understanding the home’s resale value can help you make a more informed purchasing decision. Here are a few factors that drive property appreciation in Bangalore:
1. Location
One of the most important reasons for an appreciation in the value of a property is the location. This includes the level of development in the area where the property is situated and determines the real value of your property. One of the reasons for a spike in the real estate value in these areas is their location and access to highways, schools, hospitals and the increase in the number of businesses. This has led to an influx of people in these smaller cities and escalated the value of the properties.
In Bangalore, one of the areas that has seen tremendous growth over the last decade is Hosur Road. With top IT MNCs, manufacturing industries, SMEs, continuously improving connectivity and excellent infrastructure, this locality has seen a huge spike in property values. If you are looking to invest in this burgeoning locality, look no further than Dil Chahta Hai -Phase II. This project is strategically located on Hosur Road, just 15 minutes from Electronic City and close to major industrial areas like Bommasandra and MNCs like TVS, Titan and Biocon.
2. Infrastructure
One factor that can significantly raise the value of a property is the infrastructure in the area surrounding the property. In Bangalore, smaller communities outside the city are increasing connectivity to airports, malls and neighbouring cities with highways and flyovers to attract more homebuyers.
Furthermore, many businesses have identified these areas as a potential for employment and many IT companies have set up offices. Hosur road, for instance is home to huge MNCs like Infosys, Wipro,Tech Mahindra, Titan, Schneider Electric, and Biocon. The influx of companies and people has acted as a catalyst in the development of educational institutions, entertainment hubs, medical facilities and even Metro stations. These small living communities are soon becoming self-sufficient, which has contributed to an appreciation in its value.
3. Amenities
Buildings that provide world class amenities are likely to have a higher property appreciation. In living communities this can include a variety of things such as children’s centre, gyms, swimming pools, convenience stores and parks. These features make living in a certain area as comfortable as possible. The value of such properties will appreciate in the future as people have greater availability and access to facilities and amenities in the community.
At Dil Chahta Hai Dobara, residents can make full use of the wide array of luxury amenities on offer. Apart from increasing your quality of life, these amenities also ensure that your property’s value only appreciates with time.
4. Demand and supply
Another major factor that contributes to property value appreciation are the forces of demand and supply. When there is a high demand for real estate, the prices increase and if the supply of real estate increases, the price consequently drops. Demand and supply have an inverse relationship when it comes to real estate.
The increase in demand for real estate in Bangalore is a major reason for the property appreciation. Statistics show Bangalore as the front-runner in India when it comes to demand for real estate. In 2018, 11,500 housing units were sold in Bangalore in comparison to Hyderabad and Chennai that were at 3,800 and 2,300 respectively. There are many reasons for this increase such as a positive buyer sentiment, greater commercial activity and a thriving business ecosystem. This also ties into the fact that housing in Bangalore is very affordable.
5. Affordability
An important factor driving real estate appreciation in Bangalore is the affordability of the homes. The Union Budget 2019-20 predicted that the real estate companies will benefit most from their affordable housing segment. The government is also taking special initiatives to make it easier for people to buy homes.
As the average home-buyer’s age has decreased in recent years, the need for affordable housing has become greater than ever. In Bangalore there are many micro-markers that offer a lot of real-estate options to this segment which has made it one of the cities with the highest investment in real estate. Dil Chahta Hai Dobara is the latest residential project launch in the affordable market segment. This makes it perfect for first-time homebuyers who are looking for the perfect investment opportunity.
Appreciation of property value in Bangalore is on the rise thanks to the connectivity and infrastructure that have made this city a property and IT hub. Dil Chahta Hai Dobara, located off Hosur road, just 15 minutes from Electronic city, helps potential homebuyers take advantage of the property appreciation wave in Bangalore. With a wide array of luxury amenities on offer available at an affordable price, this project is a dream come true for both home-buyers and investors alike! Pre-register now to secure the perfect home for you and your family. If you would like to know more about real-estate in Bangalore visit Shriram Properties and let us help you find your dream home!
