Bangalore is often called the “IT Capital” of the Country or the “Silicon Valley of India”. People from different parts of the country have been migrating to Bangalore to find their perfect job in the IT Sector. Bangalore now accounts for almost 40% of all IT jobs in the country. With the IT sector seeing a boom in recent years, Bangalore is fast becoming the residence of choice for a large population in the country. This has led to a corresponding rise in demand in the real estate sector in Bangalore.

Compared to other cities in India, Bangalore offers a high return on investment. This is because its well-planned infrastructure and robust economic development has led to high rates of growth. The city offers a lifestyle which few Indian cities can match. The perfect weather is an added bonus. The increasing job opportunities and larger migrant population has steadily led to an increase in demand for residential real estate.

The introduction of RERA over the last few years has also helped instill confidence in buyers. Buyers now have the confidence that projects will be completed and delivered as per the specifications promised. Bangalore has approximately 7,700 registered start-up firms according to a NASSCOM report published in 2018. A staggering 1,200 were registered in 2018. This IT boom has in turn ensured a very high absorption of commercial space.

Real Estate development is also helping the city grow. New areas like Yelahanka, Hebbal, Hennur, Whitefield, Electronic City etc have been seeing unprecedented growth with large commercial establishments coming up. The new International Airport in North Bangalore combined with the improved infrastructure and connectivity has made North Bangalore a preferred investment hub.

Bangalore’s real estate has also not seen any major adverse impact with the Covid 19 crisis. A recent consumer survey by Magicbricks estimates that Pune and Bengaluru witnessed the least decline in buying sentiment due to the uncertainties around the outbreak of COVID-19 among TIER I cities, and post COVID-19 also, the buying intent in these cities is somewhat less affected.

The same survey also indicates that as much as 67% of end users are still planning to go ahead with their investment plans albeit with a lower budget or with some delay.