Bangalore real estate at the crossroads
Real estate reforms are the latest thing to happen in India where there is severe need for reforms in this sector. The Karnataka government has taken a serious note of the prevailing corruption in the real estate sector and there is enough emphasis on curbing corruption so that there is no major crash in real estate market due to unwanted stakeholders.
Karnataka has seen real estate investments ballooning year after year in general and Bangalore in particular has seen explosive growth in the real estate sector due to its IT Centric industry and salubrious climate throughout the year. Substantial projects are under implementation and more are in the pipeline as per the recent report released by property consultant Jones Lang LaSalle.
Bangalore has become the czar of IT revolution in India that has led to many software biggies setting shop there and as a result, real estate has taken off like never before.
The once sleepy, garden city and pensioners paradise has grown by leaps and bounds due to the advent of IT industry. Many migrants from other parts of India who migrated to this city are proud of their decision to move to this city for work or for any other purpose whatsoever.
The state government has undertaken necessary reforms in order to make the real estate sector grow further without any hindrances and corruption scandals which has tormented the Indian Real estate sector for years.
Several areas around Bangalore have grown tremendously and one such area is koramangala.
Let us have a look at how Koramangala has grown over the years.
Builders in Koramangala
Koramangala is a locality in Bangalore, India. This area has a mix of modern and traditional houses. Its location between Bangalore and Electronic City makes its equidistant from the city centre and it has managed to attract migrants from across the country during Bangalore’s tech boom of the late 1990s. As a result, it has developed into a commercial hub and residential hub over the years.
Builders in Koramangala have come up with several top-notch projects and the area is dotted with projects conceived by them. Due to impressive demand for property in Koramangala, many builders have tailor made their projects to suit their customer’s needs and preferences.
Koramangala, basically was a suburb of Bangalore in the nineties, but sooner than later turned into a concrete jungle due to building frenzy in the late nineties and thereafter. With migrant population ever increasing in Bangalore in general and Koramangala in particular, this area has seen explosive growth since then.
Many new and upcoming builders have entered the fray to bet big on koramangala. This area made headlines recently due to the magnificent projects being put up here by the city’s well known builders. There is enough room to grow and showcase their projects to prospective buyers. Every builder has the opportunity to make a mark for him or her by providing excellent facilities and amenities in the projects they conceive.
Nevertheless, this area is dotted with quality homes and this is just a beginning since more is yet to come for the residents of this area and for those who are looking at affordable housing. As a result, builders in Koramangala are lining new and innovative projects to cater to the needs of ever-burgeoning migrant population that has made koramangala their home away from home.
