| Bangalore has an established real estate and property market. Investment in real estate and property development in and around the city has been growing for quite a few years now. It is the capital city of Karnataka with a total land area
of about 741 square kilometers. Bangalore is also known as Bengaluru. Investors from within and outside India found Bangalore to be an attractive property market destination. This led to the conversion of large plots and colonial bungalows to multi-storied apartments. The city has experienced significant appreciation in property prices, including property rental prices. Bangalore offers great employment opportunities owing to its economic boom and presence of large number of multi-national companies (MNCs), especially Information Technology and Biotechnology related companies. Hence there has been a considerable amount of migration to the city. This, along with salubrious climate, recreational centers and cosmopolitan feel of the city, makes it an appealing residential destination. Due to the presence of large number of MNCs, there is significant presence of foreign businesspersons. This has contributed to the development of high quality hotels and other corporate infrastructure in the city. Auxiliary industries related to property development also benefit as a result of the property market boom. However, the unplanned nature of growth in the city resulted in several problems, particularly traffic congestation. The Government is trying to further improve the infrastructure of the city. The Bruhat Bengaluru Mahanagara Palike (BBMP) is in charge of the civic administration of the city. The majority of the city lies in the Bangalore Urban district of Karnataka. Bangalore has also received a significant amount of Foreign Direct Investment (FDI) for developing its infrastructure. -- Recent News -- Golden Gate Properties is ofering 3,500 units two and three bedroom apartments ranging between 900-1,500 sq ft in total at 'The Commune', its affordable residential project in Bangalore near Mysore Road. More such projects are to set up in Hyderabad and Bangalore.
More facts about Bangalore (Bengalurū) Bangalore has been referred to as the "Silicon valley of India", "Garden city of India" and "Pub capital of India". The total population of the city is about 5.3 million. Languages spoken include English, Kannada, Hindi, Tamil and Telugu. |
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