Why Apartment is a better choice in Bangalore?
Bangalore, once called a garden city, can no longer boast of having too many gardens, although there is a concerted effort to conserve as many gardens as possible. All that can now be seen in Bangalore are concrete structures i.e. commercial establishments and residential apartments. Even the old Victorian-style houses for which Bangalore was so famous have been sold to builders and property developers who have converted them into huge apartment blocks.
In recent times, South Bangalore has witnessed a phenomenal growth in apartment building. Until recently, areas like Jaya Nagar and JP Nagar had very few or no apartment blocks, but now even these areas have started having apartment blocks. Bannerghatta Road and Kanakapura Road are now the areas where there is a boom in apartment building. Not only cheap apartments of independent houses but also preferred from the point of view of security. The apartments normally have their own security people stationed near the front door and no stranger can enter without getting their permission. With the spate of murders in independent houses, which the city has witnessed recently, it is not surprising that the sale of apartments in Bangalore has risen sharply.
The prices of the apartments for sale will vary from one location to another. If you were to buy a three-bedroom apartment in areas like Indiranagar, Lavelle Road, MG Road or any other major locality, you can be sure that it would cost you nothing less than one crore of rupees. But this need not put off anyone on a lower budget as Bangalore has apartments to suit any budget. Two-bedroom apartments sell the most in Bangalore, more than three- or four-bedroom apartments. If one is prepared to go a bit to the outskirts of the city, one can be sure of getting a beautiful spacious luxury flat for the price of a small two-bedroom apartment in the heart of the city.
If you take a newspaper, you will see that half of the newspaper will be filled with the sale of apartments in Bangalore. Apartments being built today come with amenities such as water storage facilities, power backup, rainwater harvesting, security, reserved parking, clubhouse, private terrace/garden, park, gym, elevators, swimming pool, etc. . As the radius of Bangalore city is expanding, there are many apartments on the outskirts of Bangalore city. When the IT sector was bullish, the northeast, east and southeast parts of the city witnessed large-scale development in residential complexes, especially at Jaya Nagar, KR Puram, Sarjapur, Kanakapura Road. Whether residential, office or rental, the city has never experienced such rapid growth in its real estate scene in recent years.
The real estate sector in Bangalore has undergone a great transformation in the last six months. But the collapse of the global economy has all but grounded the real estate industry. People are now waiting and watching in the hope that the apartment prices in Bangalore will drop further. Most builders are facing a crisis with hardly any apartment buyers. Luxury apartments have been the most affected. Developers are doing everything they can to boost sales, price discounts, flexible rates for parking, and freebies like cars, including semi-furnished apartments.
Some developers are also lowering prices by removing extra amenities like pool, gym, etc. No new projects are expected to be implemented until the market stabilizes. The focus of the builders now is to complete the incomplete projects.
It is an excellent period for all those who want to invest in an apartment in Bangalore.