WHICH TO INVEST IN BANGALORE’S 612 OFFICIAL PROJECTS?
The figure of 612 varied housing colonies that are being constructed in Bangalore has now changed as RERA registrations of qualified projects are much lower. The registered ones include a combination of apartment complexes and luxury villas. Going by the trends shown by buyers, there is a slight tilt towards mid-luxury housing. If this trend indicates anything serious then the builders in Bangalore are likely to focus on completing this segment’s residential projects where home loans will be accessible to the salaried class. On the other hand, there is a push for independent and ultra luxury villas. Those with higher disposable incomes prefer to invest in this segment. As new opportunities develop, owning a house is a tangible investment for the salaried class as well as the HNI individuals. It is also because this city is still one of the most affordable in terms of mid level luxury housing and better living index. Let’s appreciate what else brings many people to make homes in this city.
Consistently Makes the City’s Projects Viable
Lesser Number of Unsold Projects
It is quite interesting to note that Bangalore has the least number of unsold projects despite the structural changes in laws that have been pushed in the last few months. While other cities like New Delhi, Noida, Mumbai, Chennai and Kochi have been left with a larger unsold inventory in various stages, the same is not the case in this IT & start up hub township. The real estate developers in Bangalore have been consistent in the delivery of homes. The city is home to many young people who are in the age bracket of aspiring for a dream home. Their income is either suited for mid-luxury housing or ultra-luxury lifestyle depending on the capacity to earn every month. Individual start up owners has been able to put their bets on luxury apartments in Bangalore bypassing the trend of initially buying smaller homes. They have been able to take this step simply, because, many a real estate company in Bangalore is offering such properties at enticing prices. Good properties come under the 80 lakh bracket and it is possible for younger people to invest in a first generation, independent home. What’s more, any developer here may delay a project, maximum for six months, not beyond it. This does not happen in other cities where the delay lasts for 2-3 years. In that sense, the city offers viable projects.
Mid-Luxury Or Ultra-Luxury Home—What Will You Choose?
The city’s well balanced streak of delivery and deadlines make genuine buyers interested. It is up to the buyer to decide what will be more profitable in the long run. If you wish to rent the home and make a second income, then choose the mid-luxury option. A monthly lease can help you to pay EMIS. As you grow in the job or have your own set up then invest in a luxury home in which you can live and grow old. The rentals can continue to come from the smaller home. Of course, there are other options available. Developers have a range of residential projects to cater to different age groups and incomes of investors. Do you have a larger disposable income to spare for an investment of this stature? Are you on your way to become a high net worth individual? Then, perhaps, you should re-check the difference between these two luxury segments. It will help you to make up your mind.
Reinvention of Luxury
What Is Your Definition?
Other than cities like Mumbai, Gurgaon and Noida, even Bangalore has seen the rise of ultra rich segment due to the influx of MNCs setting base, foreign investors and expatriates need for better housing. And the return of the uber cool NRI entrepreneurs have fueled the rise of the ultra luxury segment. It is this segment that has international standards of housing and is ideal for investment in this city. Out of the 612 projects that are active, the mid-luxury villas are interesting for small families. The ultra rich are looking for that ‘unique setting’ which will set them apart from the aspirants. Such housing projects have international brands and personalities associated with them. Technology is a key driver in the spacious homes with infinity pools, designer fittings and luxe sanitary settings. The mid-luxury homes on the other hand are smart homes that give an elevated lifestyle from the current, compact home structures. What’s more the location or the postal address makes a lot of difference. Bangalore boasts of many locations like Whitefield and Indira Nagar that are home to the richest Indians. Is there any other way you would like to re-define a luxury home to own?