Despite of India's poor inflation control in the years 2012 and 2013 and overall slow down in the global business sectors still Bangalore is the ultimate investor's paradise in real estate in India. Central Statics offices data clearly indicate bad inflation control which is official publisher of Government of India.
I list following factors to explain why Bangalore is investors paradise in Real Estate in India
1 NRI investment has increased significantly in buying new properties for self use who would plan to return to India. Reinvestment from NRI from the property sold to save tax on capital gain. NRI who have considerable assured regular local income are investing in new properties.This section belongs to Top level IT professionals who are outside India from the last 10-15 years. This may not hold good for other cities like Mumbai or Delhi.
2 Increasing price over a period of time has forced first time property buyers to go for it as early as possible. Fear factor of Price making salaried employees to purchase at the earliest.
3 There has been no decline in recruiting new employees either in IT or IT enabled services. Still Bangalore is the number one IT/ITES outsourcing destination in the global market place.
4 India is likely to witness the second highest demand for office space in 2014 among the top 30 cities in the Asia-Pacific region, according to a report by property consultancy Cushman & Wakefield, which says Bangalore is expected to be the biggest market in the country due to the expansion of IT, ITeS and multinational companies. This is clear indication of new employment opportunities.
5 Travelling time likely to cut down by 40% by 2015 to any part of Bangalore from CBD or Residential areas to work places/business places. This is due Metro and completion of all roads like inner ring road, outer ring road ,Feeders to metro junctions and to NICE road.
6 Bangalore's cosmopolitan culture blended with its own traditional culture gives space to everybody to live in harmony.
7 Whether you are from Northern or Southern part of India , all dreaming to have property investment in Bangalore.
By Vidyadhar Naik-Property Consultant-Bangalore