As many as 10766 apartment projects are there in the north Bangalore. The statistics pulled from one of the primer real estate portal sites. There is a healthy sign of trend in this specific part of Bangalore. Both supply and demand will go hand in hand. Next year 2016, there will be more projects in the pipe line that shows supply will be met without any hurdles. The government policies and rate cuts by Reserve Bank of India eases the affordability of apartments for the common people. Thanks to the stable interest rates that gives immense confidence to builders in Bangalore to invest in the building the houses.
At a macro level, if you split the recent developments into numerous pieces you can realize the trend of real estate market in north Bangalore is phenomenally good. Bangalore International Airport is located in Devanahlli which comes to this fold. Also there is transport infrastructure up-gradation is happening that is a project of speed rail link is coming that connects three important places. A line links to Bangalore International Airport Mahatma Gandhi (MG) Road to Bangalore central. This draws the attention to both Information Technology companies and lifestyle companies. IT companies will invest more infrastructures because it eases the connectivity and commuting. The Hotels, resorts and restaurants, specifically luxury lifestyle companies invest more money because of proximity of airport. Therefore lot of builders like Mims Builders are eying to start many projects in this region.
After Manyata Tech park more commercial real-estate projects are coming forward. This boosts more employment and this directly effects on the demand of residential apartment projects. The peripheral Ring road is one more proof of the future development in this region. This connects Bellary road, Tumkur and Hosur Road. Its kind of project where commuting eases from North Bangalore to till Electronic City.
Recently government increases the payscale of government officials. The seventh pay commission recommends a whopping 23% hike for central government officials. A big bonanza for the car manufacturing companies and for home builders. An special added advantage for the builders of north Bangalore is that Bangalore Aerospace Park is being built over near to the airport. Government has granted thousands of acres. This suggests more jobs in near future that means more demand for houses in this area.