Why should NRIs invest in Bangalore?

Bangalore

Bangalore’s status as India’s Silicon Valley started getting attention during the 1990s, thanks to a concentration of firms specializing in research and development, electronics, and software production. The moniker ‘Silicon Valley of India’ was first mentioned at the international level in an article by the United States Agency for International Development (USAID), favourably evaluating the potential of Bangalore to become a technology hub similar to Silicon Valley in the US. From the year 2000 onwards, the IT industry in the city grew exponentially, with several dot com companies having prototypes of internet-based technologies ready to function being set up rapidly.
The focus on Bangalore as India’s Silicon Valley began with the efforts of R. K. Baliga, the first Chairman and Managing Director of the Karnataka State Electronics Development Corporation (KEONICS), set up in 1976. He proposed the idea of creating an Electronics City in Bangalore in the 1970s. Today, the vision of Bangalore as a place of opportunity for NRI tech entrepreneurs has been more than realized, as quite a few Silicon Valley residents, including American citizens, have set up businesses in Bangalore, having faith in its potential to become as large and influential as Silicon Valley, California.

Unsurprisingly, the business savvy of the city has been matched by the growth and modernization of its infrastructure, as the government of Karnataka has invested heavily and collaborated efficiently with private enterprise towards making Bangalore India’s IT capital. This hand-in-hand growth in infrastructure and business has led to a huge influx of talented individuals in the tech domain, and consequently has raised the demand for residential accommodation as well as commercial real estate.

NRIs find Bangalore as an attractive real estate investment destination due to several factors. These include:

– The volatile performance of the Rupee against the Dollar: The Rupee’s steadily depreciating value is offering good value for money to investors and has led to a steady increase in enquiries from expatriates.

– Booming demand for Bangalore real estate: With the affluent population growing steadily and its demand for quality accommodation increasing manifold, the prospect of purchasing real estate as an investment has grown more and more attractive.

– Slow economic growth: Another reason for expatriate investors wanting to park their funds in Bangalore’s real estate is the slow economic growth for the last few years, which has depreciated the value of property by 8 – 10 percent, an event that NRI investors are capitalizing on.

– Varied options provided by real estate developers: In keeping with the capitalistic outlook and booming growth of the city, and its trendy citizens, real estate developers provide a blend of properties, from town houses to villas to premium apartments, and more.

– Real estate planning blended with corporate planning: Real estate developers have understood the importance of developing projects in or near corporate or commercial hubs so as to facilitate minimal inconvenience in commuting as well as place residents within reach of facilities like malls, hospitals, schools, parks and other urban resources.

– Projects patterned on international standards: More and more builders are developing projects especially targeting the NRI segment, offering facilities and amenities similar to the ones they experience abroad so they don’t have to make significant changes to their lifestyles.

– Finally, availability, affordability and a good standard of living are the key factors driving demand.

Apart from this, in general terms, Bangalore attracts a large number of IT/ITES and BPO investment because of these reasons, among others:

– Moderate climate

– Good labour relations

– Excellent education and research institutions

– Good telecom connectivity

– Advanced infrastructure

– Progressive state policy

– Positive investor perception

What makes Bangalore stand out from other Indian metro cities that are also making efforts to attract IT investment and grooming local talent to distinguish themselves in the industry? According to the KIG 2020 study carried out by the Karnataka ICT Group, by the year 2020, Bangalore is expected to become the single largest talent pool in one location. The number of IT professionals, the numbers of individuals indirectly employed due to the growing IT industry and the value of its exports, even today, are much more than the combined values of Hyderabad as well as Chennai, two other metro cities that have been vying for an attractive slice of the lucrative IT pie.

As compared to Bangalore, investment possibilities in its competitor metro cities may be hampered due to the following reasons, among others:

– Language barrier (E.g., North Indians face difficulties in Chennai, since it is primarily a non-Hindi speaking city)

– Poor quality public transport (E.g., Chennai has extremely aged, overcrowded, and unclean buses nearing or having surpassed scrap value, still being used actively for public transport)

– Political instability/unrest (Hyderabad, is still struggling with the Telangana issue)

– Terrorism (bomb blasts in Mumbai, Hyderabad)

– Extreme weather conditions (Chennai has extreme humidity and heat, Delhi has unbearable extremes in summers and winters)

– Prohibitive land prices caused by the IT boom (Hyderabad)

Ultimately, Bangalore prides itself on being one of the most progressive-minded and cosmopolitan cities in the country, and its technologically and economically advanced population drives this image. Surveys on popular websites have underscored Bangalore as the most cosmopolitan city in the country. Bangalore’s strengths lie in talented resources, good educational institutions, a large English speaking population, and technological prowess. However, it is a proactive state government that makes constant efforts to facilitate new investments, which gives Bangalore an edge over other Indian cities. No wonder that NRIs, having observed these trends, are making a beeline for Bangalore.

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Bren Woods – An oasis in South Bangalore

Bren.Woods

Bren Corporation, started as SJR Group in 1973, has become a renowned name in the real estate industry in Bangalore. From starting out as an infrastructure builder and branching out into residential and commercial real estate with equal flair and expertise, Bren has indeed come a long way. Based in Bangalore, Bren has developed a keen sense of the direction in which the city is growing, and has been quick to jump on the bandwagon when South Bangalore started developing at a blistering pace from the end of the 90s onwards. Today, the group has several elaborately planned and luxuriously equipped projects spread across the commercial hubs of South Bangalore, including Sarjapur Road, Whitefield, Marathahalli, Bannerghatta Road, and Electronics City, and are coming up with new projects in more locations with potential.

Bren’s residential projects are distinguished by a desire to place the proud house owner in a different world, far from from the din and bustle of the city, even as the projects themselves are located at the epicentres of urban utilities and well connected with important commercial hubs. One such project, which is slated to launch shortly, is Woods, based off Hosur Road and close to Electronics City Phase I and II. The project is conveniently connected to high speed links to North, East, and West Bangalore.

The most distinguishing feature of Woods is the tall teak trees that surround the property, giving one the impression of living in the cool confines of an evergreen forest. In spite of the impression of seclusion, the project is near the Bosch office, and is only 3 km off Hosur Road. For the ample premium amenities that the project boasts of, the prices of its 2 and 3 BHK flats are very much in the affordable, mid-range level as compared to similar properties by other developers. The area of the flats range from 1062 sq. ft. to 1377 sq. ft. The whole campus is set on a sprawling 4.4 acres of land, which affords residents their seclusion, and thanks to Bren’s immaculate planning you truly feel that you are in the lap of nature.

To give you a taste of the lifestyle you can experience as a resident of Woods, the amenities provided include a full-featured club house, meditation centre, multipurpose hall, conference room, swimming pool, gym, kids’ play area, sports facility, and a landscaped garden, and more. The premium facilities provided include power backup, rain water harvesting, piped gas, 24 hour water supply, lifts, car parking, video security, intercom, fire safety equipment, and more.

Visit the Bren office today to learn more about this promising project that already has eager prospective residents booking and getting ready to move in as soon as the project is ready to occupy. You can visit the Bren office at the following address:

Bren Corporation,
#61, Balavana,
5th ‘A’ Block, Koramangala,
Bangalore – 560 095, India
Tel: +91-80-67 888 999

Learn more about Bren Woods at http://bren.com/woods-index.php, http://www.makaan.com/bren-woods-sjr-group-hosur-road-bangalore-south/microsite/5302/3479 and http://www.commonfloor.com/bren-woods-bangalore/povp-8jd5s1.

Why Sarjapur Road is a good location to buy property

Sarjapur Road

Sarjapur Road has become a booming locality for real estate developers, thanks to its huge multitude of IT employee denizens and proximity to the Outer Ring Road (ORR). The latter is the new home to prominent multinational corporations and is easily accessible to residential areas, SEZs and IT parks, making it a prominent real estate hub.

Over the past 25 years, the city of Bangalore has increased in size by about 400 percent, whereas real estate prices have roughly jumped about 6 times. Prices have increased even since the advent of the Bangalore International Airport on the Yelahanka-Devanahalli stretch. The creation of an IT hub on the ORR and the general increase in real estate prices across the city have led to an alarming spiralling of costs in locations like Whitefield, Sarjapur Road, Outer Ring Road, Bannerghatta Road, and Hosur Road.

Earlier, Sarjapur Road was an isolated place, but with Wipro becoming the first to open the corporate gateway, the real estate boom in this locality started in the early 1990s. The IT sector subsequently started shifting attention from Electronics City and started considering Sarjapur Road as a potential hub, as large tracts of land were available as well as land prices were low at the time. Towards the end of the ‘90s, the Marathahalli-Sarjapur Outer Ring Road was built, which boosted connectivity to Sarjapur Road. IT companies subsequently started setting themselves up on the Outer Ring Road, which became the next IT zone after the International Tech Park (ITPL), in Whitefield. Today, the Outer Ring Road houses IT giants like Accenture, Capgemini, Cisco, HP, and Wipro, to name a few. Besides this, it also houses other prominent multinational corporations like Genpact, Paypal, ARM, KPMG, Nokia, and more.

Apart from the Outer Ring Road, Sarjapur Road is connected to other Bangalore hotspots such as Electronics City and Whitefield. The average price per square feet hovers around the Rs. 4000 mark while the disparity between minimum and maximum prices can be as high as Rs. 2000 and Rs. 8000, respectively. The area is full of essential urban facilities such as hotels, hospitals, educational institutions, gyms, shopping malls and other recreational facilities, banks, restaurants, etc.

Besides its status as an IT hotspot, Sarjapur Road is also gaining recognition as an education hub. The International School of Bangalore (TISB) is located here, as are other prominent schools, such as Primus Public School, Harvest International School, Gear Innovative International School, Delhi Public School, Head Start Educational Academy, and more. Besides educational institutions, the locality is home to prominent malls such as Total Mall, movie theatres such as Cinemax, and a host of banks and restaurants, which assure convenience to locals and visitors alike.

Even as the Southern and Eastern parts of Bangalore have become saturated in real estate terms, Sarjapur Road still stands as a beacon of opportunity and potential for enterprising real estate companies looking to provide quality accommodations to an upscale populace that expects the best in amenities and utilities and is looking for convenient connectivity with leisure and work centres across the city. Unsurprisingly, there are many high profile builders and real estate developers who have left their mark on Sarjapur Road. These include the SJR Group (now known as BREN), Sobha Developers, Mantri Developers, Salarpuria Group, Puravankara Projects Ltd., Prestige Group, and others.

BREN has several acclaimed projects in or near this prime location. These include Paddington, Celestia, EdgeWaters, Redwoods, Park Vista, Brooklyn, and Verity. Paddington has been recently launched, Celestia is ready to occupy by December 2013, EdgeWaters is about to be launched soon, whereas Redwoods, Park Vista, Brooklyn, and Verity are completed and occupied projects. Visit http://bren.com/homes.php to know more about these projects.