Today, Bangalore has emerged as one of India’s best cities to live in, having earned the leading position in the Living Index in a nationwide assessment conducted recently by the government. Rapid development, high demand and infrastructure improvements are key factors driving the growth of real estate in the city.
Property prices are directly proportional to growth in employment, GDP, infrastructure and population growth, and in all these factors Bangalore ranks high. The notable influx of people into the city from other parts of the country and the world is unparalleled and can be attributed to the surge in education and employment. The city has developed in a symmetrical and decentralized fashion with technology parks, townships and high-end residential communities. The main catalyst for this development has been the software boom which has transformed Bangalore into the IT capital of India.
In this high-tech city, Koramangala is a district that has risen to prominence due to its proximity to major IT companies. Koramangala is also known as the start-up hub of the city due to the presence of many budding entrepreneurial businesses. It has also transformed into a central business district (CBD) and is a highly sought-after destination for residential and commercial investors. If you are considering investing in a house in Koramangala, here are some factors why the area should be your priority:
An attractive and privileged location
Koramangala is strategically located adjacent to Electronic City and HSR Layout, two localities that are at the heart of Bengaluru’s IT boom. This proximity offers a number of advantages for those looking to invest in a home in this prime locality. Some of the largest companies in the world have invested in these areas by setting up offices there. The influx of investments pouring in guarantees high rental returns on investment for home buyers. Koramangala also offers all the advantages of living in an upscale residential area while being close to commercial areas. This means homebuyers 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 Bangalore. The next metro line at Silkboard will open Koramangala to all of South Bangalore like Jayanagar and JP Nagar. The nearby Hosur Road is a main artery that connects Koramangala to Madiwala and Electronic City. Sarjapur Road connects Koramangala to the outer ring road – the lifeline of Bengaluru. The place is also very well connected to major shopping areas like MG Road via 80 Feet Road.
Many job opportunities
Koramangala is one of the most exciting shopping areas in Bengaluru. It has developed a reputation as the city’s startup hub due to the many offices and coworking spaces that open there. Residents working in large companies in these localities can easily travel from Koramangala to their place of work. What differentiates Koramangala from other areas is the presence of a young, thriving, entrepreneurial and opportunity-seeking population present both in the area and in nearby easily accessible areas.
Highly developed social infrastructure
Koramangala has a distinct advantage over many localities in Bangalore as it is more advanced in terms of social infrastructure. The neighborhood offers residents a wide range of amenities and conveniences. It is home to prestigious educational institutions, world-class hospitals, restaurants, pubs, shopping centers and much more. Koramangala offers something for everyone, and that is what sets it apart from most other locations in town.
High-end residential projects
The influx of investment in and around Koramangala has led to the development of many high-end residential projects. Potential buyers looking to invest here will be spoiled for choice as the area has developments that offer state of the art amenities like a clubhouse, jogging track, open green spaces, swimming pool for the enjoyment of residents and more. In Koramangala, you are sure to find a home that meets all your needs to ensure you have the best years of your life in a place that moves fast and moves.
Attractive appreciation value
With rapid development comes rapid appreciation in property value. Due to its proximity to major commercial areas and the large number of offices opening there, Koramangala has seen a sharp increase in property prices. This locality is also the perfect choice if you are looking to buy a house mainly as an investment. The increase in the number of people moving to this locality for work has led to an increase in demand for housing options. Finding a tenant and earning high rental income is relatively easy.
In conclusion, Koramangala offers home buyers an unparalleled quality of life. Today, Koramangala has tree-lined avenues and well-paved thoroughfares, with high-end apartment complexes, bungalows and offices. Given the price trends in the area and the growing demand, the locality will prove to be a good investment. More and more startups, retail hubs, and businesses moving here have resulted in a high demand for homes here. The locality is connected to the major hubs around, which is why people travel there in a straight line. In short, it can be said that you should give your best while residing in Koramangala.
(By Anjana Sastri, Director – Marketing, Sterling Developers)