Individual Estate Developing In Bangalore

Bangalore has been soaring high in terms of real estate business since the time it has been termed as the Silicon Valley of India. Though the city has been witnessing a wave of high rises, the preference towards independent houses has still been the same. People are opting for independent houses in Bangalore and even the real estate agents in Bangalore are getting more queries about independent houses. Focusing on this scenario, even the developers are swinging towards the development of individual estates, and the various reasons contributing to this are:

1

Real Estate is still within the range of common masses

The real estate market is still booming and has not yet reached a saturation point like Mumbai, wherein the prices have skyrocketed and beyond the affordability of the common people. Still now, Bangalore has the mindset of owning an individual estate rather than opting for apartments. The individual estates can be planned according to the taste and preferences wherein the apartments come with pre decided configurations with very limited scope of customization

Buying a land is still an affordable proposition

The main objective of opting for readymade apartments is to dodge the process of buying the land to ensuring the quality of the materials to the final touch up. In this process every step comes with a price and responsibilities. Buying a land is still an affordable proposition in Bangalore than cities like Mumbai wherein the space crunch is so much that the price of land is also beyond the affordability of the mass and the cost involved in the process of constructing a house comes up to a huge cost. Moreover getting the finances from the financial institutes are easier for apartments. But in Bangalore the scenario is very different as well as the mindset of the people which in a way contributing in the demand of the individual estates

People still prefer to stay down to earth and close to their loved ones

This is unintended; actually, many people prefer to design their own house. They would rather prefer to stay grounded in their individual houses and be in touch with the neighbors rather than opt for a high rise. Moreover Bangaloreans still believe in living in a joint family (not considering the people who relocated for their job) with their near and dear ones

The real estate developers also deal with land properties too. Many dealers are focusing on providing customized solutions and thus coming up with independent houses too along with the high rises. Though the demands for independent estates are gaining momentum, but it doesn’t mean, that apartments are losing their demand. Even the apartments are in high demand, since there are lots of immigrants to the city, the rental market is still in high demand and there are a lot of real estate investors, who are buying flats as an investment proposition and renting it out as well to enjoy the tax benefits.

To check out apartments or land/plots in Bangalore and the virtual tour of the properties, explore Housing.com

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Mark Holland

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