While the pandemic saw many of Bangalore’s migrants leave, the city is gradually coming back to life. With office spaces calling their employees back, recreational spaces unique to the city reopening after a long break, and with the city’s urban calling achieving to welcome migrants back; various socio-economic and socio-political forces may be gearing up to establish a new normal. Although inflation and recession have very different consequences that appear to therefore be different socio-economic phenomena; they are intrinsically correlated and have been expected fallouts of the pandemic.
Real estate is known to be one of the few assets that lasts to beat recession and in the face of inflation, rents as they see an increase, are an obvious benefit to the owners; both economic circumstances that benefit the realm of real estate.
Bangalore has grown as an urban base and it may be safe to say that the city has offered opportunities of growth to various industries along with migrants across generations. With the stellar growth that the city has managed to achieve over the last few decades, it may be impossible for the Silicon Valley – IT hub to step back from the progress it has leapt to cherish.
The city as it reemerges from the pandemic’s lockdown, promises to rebuild itself to retain the luster it’s been known for. Now is perhaps the best time to invest in Bangalore’s booming real estate and listed below, are reasons that you must consider the city as an investment option.
Five Reasons you Must Invest in Bangalore’s Thriving Real Estate
- Bangalore is the IT capital of India –
Since a large IT companies have established their base at Bangalore, the city has been identified as the Silicon Valley and the IT capital of the country. The strong presence of established MNCs and tech companies has eventually paved a path for emerging talent to set up their start-ups in Bangalore. With the two booming in the city unlike anywhere else, it has empowered various other industries including real estate, to assume an advanced taste. Subsequently and with time, the city is now known to be an ideal urban dreamAs of today, residential properties in Bangalore are developed to meet the opulent taste that the city has cultivated to associate with itself. As a result of being aware of worldly luxuries and global concerns, real estate in Bangalore reflects the richness of awareness and indulgence.
- Tax Benefits in Bangalore –
By taking a home loan, one can get tax reductions when investing in real estate in Bangalore. The tax benefits are a huge sigh of relief to anyone who may achieve to build a home that serves to live the purpose of being a long term investment that includes family. For an urban dweller who seeks to build his or her dream home, the tax benefit is a massive source of solace.While rents see a consistent increase across inflations, the cost of repaying home loans remains the same and this becomes an increased point of advantage for any homeowner whose residential space can be given out for rent.
- Returns on Investments Inevitably High –
Every residential hub in Bangalore is equipped with every sector flourishing in its own degree and there is always room for growth as industries in an urban center, achieve to keep themselves up to date. Be it medical services and banks, or recreational industries such as restaurants and gaming arenas; Bangalore is full of access points.The consistent increase in development across localities in Bangalore and particularly in the Bangalore East, reflects in the price hike seen with real estate in the city. Appreciation values as they increase, see an increase in the rates of the property and now may therefore be the best time to invest in Bangalore.
- Steady Growth as a Metro City and in Real Estate –
Ranking fourth on the income index in parallel to cities in the country, Bangalore is emerging as a metropolitan as it always has been. Alongside the appealing nightlife and entertainment options that the city is popularly known for, Bangalore is at a proximal distance from various lucrative tourist destinations like Wayanad and Coorg.As the city grows and thrives, so does the real estate. Influx of migrants and business folk promises the city its glory in the times to come. The real estate industry in Bangalore is either steady or sees a steady streak of progress both of which benefit property owners in the city.
- Top Educational Institutions –
From international schools to esteemed colleges, Bangalore homes and hosts various prestigious academic and educational institutions that families in Bangalore, can make the best use of. For young couples and individuals who chalk a long term curve for their growth tangents, Bangalore may present wonderful opportunities to invest into.
Real Estate in Bangalore is estimated to grow and if you are looking to invest into properties in the near future, considering the silicon valley of the country offers opportunities that you do not want to miss.