In every city, the center is with the old buildings and a few areas are developing. However, this trend does not apply accurately to the megacities as in some of the cities a few areas which may have redevelopment or development, and hence they are much focused by the home seekers, investors as well as builders and real estate developers. In the city of Bangalore, the West Bangalore is much in the discussion as there are a number of areas where new projects are coming up, and some of them are also from some renowned developers.
Looking at the future perspective of the area, there are some leading developers such as Sobha, Salarpuria, and Tata homes which have come up with their various projects. The projects here doubtlessly offer some of the best assets to the investors and property to the users. Due to increasing value of the property, here one can expect the appreciation in the price of the property in the short term also. The properties here are mainly in the residential segment, and people from service sector are the prime buyers. Due to the industries in nearby areas the primary class who prefer property here is a middle class from service section. The main areas that have attracted the home buyers are Jalahalli, Handrahalli, and BHEL colony, Dasarahalli, Karivobanahalli, Laggere, Peenya, Hasarghatta, Chikkasandra and HMT housing colony as well as Nagasandra.
The tremendous infrastructural development in the West Bangalore is also a prime driver of the demand of property here. The area is well connected to the rest of the city. Some of the developed areas such as Rajajinagar, Electronic city, Koramangala, Bannerghatta Road and Malleshwaram as well as Begur main road are overloaded with the public and hence those who want new homes and that too at a better location, the west Bangalore is the preferred choice.
There are also many more developments being here, and some of the major centers are being developed such as stadium and exhibition center which help the members to have better living here. There are also more public services being developed here. Effective connectivity to the other areas of the city proves much helpful to the people who want to have a property here and hence the demand for classic properties is consistently increasing here.
In next couple of years, the Metro Rail Phase 1 and 2 will be active which will add much to the connectivity to various areas of the city. There is also peripheral Ring Road which will help to have better movement through roadway. The Proposed Mumbai-Bangalore Industrial corridor will also offer a great contribution to the industrial as well as commercial and residential infrastructure. Due to the increased chances in the job market, development of industries and basic facilities the demand for homes has increased in this area. The developers here also have majority schemes in the residential segment for a small to medium size family such as 1 and 2 as well as 3 BHK.