Bangalore today has become one of the best Indian cities to live in having secured the leading position in living index in a national assessment made by the government recently. Rapid development, high demand, and infrastructural improvements are key factors that are driving growth of real estate in the city.
Real estate prices are directly proportional to employment growth, GDP, infrastructure and population growth, and in all these factors, Bangalore fares high. The notable influx of population to the city from other parts of the country and the world is second to none and can be attributed to the spurt in education and employment. The city has grown symmetrically and in a decentralized manner with tech parks, townships, and upscale residential communities. The main catalyst for this development had been the software boom that has transformed Bangalore into the IT capital of India.
In this hi-tech city, Koramangala is an area that has risen to prominence due to its proximity to major IT corporations. Koramangala is also known as the start-up hub of the city due to the presence of many budding entrepreneurial firms. It has also transformed into a Central Business District (CBD) and is a much sought-after destination for residential and commercial investors alike. If you plan to invest in a home in Koramangala, here are a few factors why the area should be your priority:
An attractive and prime location
Koramangala is strategically located next to Electronic City and HSR Layout – two localities that are at the heart of Bengaluru’s IT boom. This proximity offers a number of benefits for those looking to invest in a home in this leading locality. Some of the biggest corporations in the world have invested in these areas by setting up offices here. The influx of investments pouring in guarantees high rental returns on investment for home buyers. Koramangala also offers all the advantages of living in a premium residential area while being close to commercial zones. This means home buyers can enjoy the best of both worlds.
Excellent connectivity to key areas
One of the main advantages of investing in Koramangala is the easy connectivity it offers to key locations in Bengaluru. The upcoming metro rail line at Silkboard will open up Koramangala to the whole of South Bangalore like Jayanagar and JP Nagar. The nearby Hosur Road is a major arterial road that connects Koramangala to Madiwala and Electronic City. Sarjapur Road connects Koramangala to the Outer Ring Road – the lifeline of Bengaluru. The locale is also very well connected to major commercial areas like MG Road through 80 Feet Road.
Numerous employment opportunities
Koramangala is one of the most exciting commercial zones in Bengaluru. It has developed a reputation as the startup hub of the city due to the numerous offices and co-working spaces opening up here. Residents working in major corporations in these localities can easily commute from Koramangala to their work places. What differentiates Koramangala from other areas is the presence of a young entrepreneurial population that is thriving and looking for opportunities which are present both within the area and in neighboring areas that are easily accessible.
Highly-developed social infrastructure
Koramangala has a clear advantage over many localities in Bangalore as it is more advanced in terms of social infrastructure. The neighbourhood offers residents a wide array of amenities and conveniences. It is home to prestigious educational institutions, world class hospitals, restaurants, pubs, malls and much more. Koramangala offers something for everyone, and this is what sets it apart from most other localities in the city.
Premium residential projects
The influx of investments in and around Koramangala has led to the development of numerous high-end residential projects. Potential home buyers looking to make an investment here will be spoilt for choice as the area has developments that offer state of the art amenities like a club house, jogging track, open green spaces, swimming pool for residents to enjoy and more. In Koramangala, you are certain to find a home that meets all your needs to ensure you live the best years of your life in a place that is fast and happening.
Attractive appreciation value
With rapid development comes fast-appreciating property value. Due to its proximity to major commercial areas and the large number of offices opening here, Koramangala has witnessed a sharp increase in property prices. This locality is also the perfect choice if you are looking to buy a home primarily as an investment. The increased number of people moving to this locality for work has led to a rise in the demand for housing options. Finding a tenant and earning high rental income is relatively easy.
In conclusion, Koramangala offers home buyers an unmatched quality of life. Today, Koramangala has tree-lined avenues and well-paved thoroughfares, with premium apartment complexes, bungalows and offices. Considering the pricing trends in the area and rising demand, the locality will prove to be a good investment. More startups, retail hubs and companies setting up shop here has resulted in strong demand for homes here. The locality is connected to major hubs in the vicinity, a reason why people make a beeline to it. In short, one can say that you should give your life the best shot by residing in Koramangala.
(By Anjana Sastri, Director – Marketing, Sterling Developers)