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Evolution of East Bangalore Market

Evolution of East Bangalore Market

The key factors that have attributed to the growth of east Bangalore like the presence of IT hubs, huge parcels of land, a well-built residential sector, and an excellent infrastructure. The positive residential graph on east Bangalore is due to the increase in demand for IT hubs in the outer ring road, Bellandur, Mahadevapura, Koramangala, and Electronic City. The expansion of IT/ITeS clusters, infrastructure deployment in remote areas, and property at reasonable prices have resulted in the new nodes of emergence in east Bangalore.

Earlier the city cenbters were witnessing the traction but now the peripheral regions in the east have picked up the pace. The number of inquiries in the Outer Ring Road has substantially increased. The multiple job opportunities and the set of various companies and industries have set a segment at different pocket-friendly rates.

The presence of IT/ITeS hubs: proximity to companies in White Field, Electronic City, Koramanagala, and others in Outer Ring Road has worked well for the east Bangalore belt. Adding to this Sarjapur also grew well with a strong office space demand and several residential projects close to work.

The Start-up culture: Bangalore being one of the fastest-growing start-up eco-systems in India, more than 65% of the companies are deployed here. That means Bangalore owns 26% of the start-ups in the country. They emerge near the key IT clusters like White Field, Electronic City, Koramangala, to lure the clients in. apart from these other social infrastructures like schools, colleges, hospitals, shopping points, and others have emerged well.

The Residential market: the luxury segment housing, affordable houses with 1BHK, 2BHK, and 3BHK configurations are all available here. Affordable housing projects have a huge demand in the area. Multiple ongoing projects are going on in Sarjapur, Gunjur, Channasandra, and Babusapalaya. White Field remained popular amongst the home buyers priced between 50 and 75 lakhs, average per square feet prices range around 6500 and 5900 INR. Along with these developments, IT cluster areas like White Field, Koramnagala, Electronic City, and Marthahalli, have become more viable options for investment. The buyer base ranges from professionals to entrepreneurs, and mid-income category people in Central Bangalore.

Sound infrastructure: the prime infrastructural development in the area includes the six-lane Chennai to Bangalore expressway. Phase 2 of Namma Metro and Peripheral Ring Road will provide excellent connectivity to Sarjapur and other areas surrounding it. There Chennai- Bangalore Industrial corridor is mapped and passes through Hoskote in North-East anticipated to revive the realty landscape in east Bangalore.

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