Bangalore has been the hub of the country’s IT industry for the past few decades. The city has seen tremendous growth in terms of its economy and infrastructure over the years. With the government’s focus on developing the city’s infrastructure, several new projects have been initiated, which are expected to have a significant impact on the real estate sector. This article will discuss the impact of new infrastructure projects on Bangalore’s real estate.
Learn how new infrastructure projects in Bangalore are impacting the city’s real estate. This article provides an overview of the latest developments, including the impact on property prices, rental yields, and demand for commercial and residential properties.
Impact of New Infrastructure Projects on Bangalore’s Real Estate:
New Infrastructure Projects in Bangalore
Bangalore is witnessing several new infrastructure projects aimed at improving the city’s connectivity and accessibility. These projects include the Bangalore Metro Rail, Bangalore Peripheral Ring Road, and Bangalore-Mysore Expressway. These projects are expected to reduce traffic congestion, improve transportation, and promote commercial and residential development along their corridors. Impact on Property Prices
The development of new infrastructure projects has a direct impact on property prices in the affected areas. As infrastructure projects enhance connectivity, properties located in their vicinity see a surge in demand, leading to a rise in property prices. The impact of infrastructure projects on property prices is more significant in the case of residential properties. For instance, areas along the Bangalore Metro Rail line have seen a considerable increase in property prices in recent years.
Impact on Rental Yields
The development of new infrastructure projects also affects the rental yields of properties in the surrounding areas. Rental yields tend to increase in areas where there is a high demand for rental properties. Infrastructure projects that enhance connectivity and accessibility tend to increase the demand for rental properties, leading to higher rental yields.
Impact on Commercial Real Estate
New infrastructure projects have a significant impact on the commercial real estate sector. Projects such as the Bangalore Metro Rail and Bangalore Peripheral Ring Road have resulted in the development of new commercial hubs along their corridors. These hubs have attracted several multinational companies and start-ups, resulting in increased demand for commercial properties in these areas.
Impact on Residential Real Estate
New infrastructure projects also have a significant impact on the residential real estate sector. Areas along the corridors of infrastructure projects witness increased demand for residential properties, leading to a rise in property prices. The development of infrastructure projects also results in the creation of new residential hubs, providing homebuyers with more options.
Here is an example of a residential project.
Prestige Marigold is a premium residential plotted development that spans 50 acres and contains more than 396 individual plots, Located on Bettenahalli in North Bangalore. It includes plots ranging between 1200 and 4000 square feet in size. There are 30×40, 30×50, 60×40, and 50×80 plots available in this impeccably designed Development.