Transformation of Electronic city into the realty city

Electronics city is a hub of IT companies based in the Anekal taluk area of the Bangalore Urban District. It houses some of the most renowned companies of India like Wipro, Infosys, iGate etc. With Infosys purchasing Rs. 65 Crore worth of land from HP, the property scenario in the Electronics City area of South Bangalore has grown substantially.

Bangalore, which is also known as the Silicon Valley of India, is the IT hub of the country. With over 10 national plus MNCs operating in Bangalore, the Southern region has seen a substantial growth in both residential and office complexes, contributing a major portion to the Bangalore real estate market.

 

Electronics City

Southern part of the city holds the maximum number of IT companies in India. The location is always counted as prime because of the hot shot names attached with it. Because of the presence of top companies like TCS, Biocon, HCL and HP etc. the property rate in this region of Bangalore ranges from moderate to high prices. Attached to the prime parts of the city through BMTC (Bangalore Metropolitan Transport Corporation) bus, the area’s connection is set to further improve after the launch of Namma Metro Phase II.

 

Property price:

The property prices in the Electronics City Bangalore are moderately priced as on December, 2015. For those who are not looking to invest in a property but are planning to reside there on rent, the prices are Rs. 7k to 11k for 1 BHK, 12k to 14k for 2BHK and 14k to 19k for 3BHK apartments

 

Demands of property investors

Property investors who are looking to invest in Bangalore are looking for following things in the city:

• 2 BHK Apartments

In Bangalore city, 2 BHK flats are on a very high demand and have identified an unmatched growth because of a rise in prices and decrease in affordability. The 2 and 3 BHK flats constitute 90 percent of the realty market and especially the 2 BHK flats noted a demand of 54 percent, which is somewhat equal to the supply in the real estate market. This has made motivated many builders of the nation to launch similar property in Bangalore.

• Studio Apartments

The concept of Studio Apartments is becoming very famous in the Electronics City area of Bangalore. The prime reason for this is the fact that the new buyers will most probably plan on relocating in the future or that they have small family sizes. It’s easier for the young professionals to pay EMI rather than paying 15k to 25k as rent every month, also it can be used for investment purposes in the future. Thus studio apartments count as being a feasible option for professionals.

 

Electronics city will turn smart

The Electronics City Industries Association (ELCIA) along with Cisco has developed a plan to make Electronics City, a Smart City. A 5-kilometre area has been noted where, over and above the parking and street lighting, other amenities, such as, water management, traffic management and security surveillance will be managed locally through information systems,intelligent sensors and the Internet to develop the quality and competence of the city amenities in the Electronics City area.

When ranged ahead of the 5-km stretch, this project will be launched as concept of a smart city next year.

Bangalore, especially South Bangalore is growing as the realty hub in India. Because of the presence of the world’s top IT companies in the locality, the prices will only increase. However, like any other investment, look for the reliability of the developer.

This is a guest post by Tripti, who has been in the writing industry for 2 years now. Her work ranges from articles on property to education and employment.