Koramangala Emerges as a Prime Residential Hub in Bangalore
Located in the southeastern part of Bangalore, Koramangala is anticipated to provide substantial financial gains for those who invest in properties there. This locality has rapidly become a highly desirable residential area within the Bangalore Metropolitan Region (BMR).
Koramangala in Bangalore has recently become a hot home -destination.
Promising Returns for Investors
Koramangala is guaranteeing elevated returns for investors and has solidified its position as a sought-after real estate destination in India. The proliferation of upcoming ultra-luxury residential projects, bustling commercial malls, and posh villas underscores the rapid development and transformation of this area into a premier residential choice.
Expert Insights on Koramangala's Appeal
Speaking with Shweta Rao of the Economic Times, Gaurav Pandey, Vice-President of PropEquity Research & Consulting, noted that "having close proximity to many established commercial hubs in the Central, East and Southern regions of Bangalore, Koramangala has evolved as a premium residential market."
He also stated that there are few vacant locations in the area available for additional real estate development. This scarcity, coupled with increasing demand, will inevitably lead to price increases. According to Mr. Pandey, the property prices are set to increase further because of these reasons.
Bangalore Market remains stable as Koramangala holds better demand.
Sustained Demand Amidst Rising Prices
Despite the escalation in property prices, prospective buyers continue to exhibit strong demand for properties in Koramangala. As an IT and ITeS-driven city, Bangalore's growth is intrinsically linked to the expansion of these sectors. The area is primarily favored by end-users rather than speculative investors, thus providing stability to the market.
Stability in End-User Driven Market
Since Koramangala primarily attracts individuals looking for residences, rather than investors, the area demonstrates greater market stability compared to markets swayed by investment trends.
Mr. Pandey commented that policy changes have some influence, albeit restricted, by enabling real estate development in outlying regions where unoccupied land is available.
Unlike other major metropolitan areas, Bangalore's real estate market has maintained stability. According to Mr. Pandey, the Bangalore market is more vibrant than markets in Delhi, Mumbai, or other regions within the Mumbai Metropolitan Region or National Capital Region.