Bangalore’s realty lure continues to keep its lustre
India’s IT capital Bangalore remains the most preferred destination for the real estate developers. Rapid industrial growth, high-profile job opportunities, salubrious weather round-the-year, Cauvery drinking water, and life style on par with international standards hold the city top in the Indian real estate map. Real estate in Bangalore is also attracting substantial foreign investment. Funds to the tune of $800 million to $900 million would be injected in the south Indian realty market within the next two years and Bangalore is expected to grab 60% of this investment.
The commercial real estate segment in Bangalore yields returns to the tune of around 10.5% compared to other cities like Delhi, which offers an average return of 8.5%. Nearly nine million square feet of land in Bangalore was absorbed for office space on lease last year.
Besides Bangalore, other parts of Karnataka including Mysore, Mangalore, Hubli, Dhadward, Hassan have also attracted real estate investors in large numbers. The recent Supreme Court’s clearance over formation of the Bangalore-Mysore infrastructure corridor promoted by Nandi Infrastructure Corridor Enterprise (NICE) has triggered the real estate boom in rural towns around the 150 km stretch between Bangalore and Mysore. (The Financial Express)
By INRnews Correspondent
Besides Bangalore, other parts of Karnataka including Mysore, Mangalore, Hubli, Dhadward, Hassan have also attracted real estate investors in large numbers. The recent Supreme Court’s clearance over formation of the Bangalore-Mysore infrastructure corridor promoted by Nandi Infrastructure Corridor Enterprise (NICE) has triggered the real estate boom in rural towns around the 150 km stretch between Bangalore and Mysore. (The Financial Express)
By INRnews Correspondent
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