Real estate investment in Electronic City

Electronics City, usually referred to as Electronic City – Silicon Valley of India, is an IT hub in Anekal taluk, Bangalore Urban district. It is one of India’s biggest electronic industrial parks, spread over 332 acres in Konappana Agrahara and Doddathogur villages, inside Bangalore. It consists of three phases – Phase I, Phase II and Phase III. There are approximately 200 IT/ITES companies located in Electronics City. A big portion of India’s major software import/export happens from this Electronic City.

 

electronics city

 

Electronic City have of some ideal quality land for residential as well as for commercial use. But investing on real estate in Bangalore is a complicated decision in everybody’s life. Whereas there are several developed locations and good apartments coming up in the outskirts of the Electronic City and it is quickly becoming the next residential center. The city has presence of major IT companies like as Wipro, Infosys, Siemens, Intel, H.P, HCL, CGI and GE. Bangalore Metro train connects the it with other parts of the city, Generally more people are wishing to stay near to their work places. Also Electronic City has a many famous educational institutions like Alliance Business School, ICFAI, Christ academy, Xavier Institute of management and Entrepreneurship, IZEE business school etc. Along with this Electronic City has number of International level super specialty Hospitals. So the demand for land in Electronic City is like hot piece of cake.

The four-lane mixed corridor elevated highway from Silk Board Junction to Electronic City was opened on 22 Jan 2010. The 9.985 km long expressway is one of the longest elevated national highways in the country. This elevated stretch, promises to help a commuter reach Electronic City from Silk Board in less than 15 minutes. The highway or Hosur Road also has some buildings of some major IT players like Bosch, Sasken, Convergys etc., along with showrooms of major auto manufacturers like Volvo, Audi, BMW, Toyota, Honda, Volkswagen, Porsche etc.

Property Rates:

  • Average selling price: Rs. 4000 sq. ft.***
  • Average rent for a 2BHK: Rs. 15640 / month*
  • Average rate of 2 BHK apartments: Rs. 40 -50 lacs*

The average land rates in Electronic City stand at around INR 6000 per sq yard.  A moderate 2 BHK apartment is available within a price range of Rs. 40- 50 lacs. There are many luxurious apartments in the Electronic City which comes with facilities like a large swimming pool, gymnasium, power backup and clubhouses. Villas in electronic city are available in the range of Rs. 1-2 crore.

Electronic City – Factors that Attracting the Buyer’s

  • Bangalore’s suburbs, mainly Electronic City is the next good destination for buying land, plots, residential apartments and villas. Land rate is really realty reasonable compare to other Outskirts of Bangalore. This is the right time to invest near Electronic City
  • Electronic City is located in the suburbs of Bangalore, BUT it is the IT hub and the best area for investment for IT Professionals. Living in that area is not only near to the work place but can also reduce travelling time/costs.
  • Because of majority of the IT companies settles down in this area, buying a residential land in Electronic City can surely lead to greater returns within months.
  • Property Rates are still in preferred budget. Especially lands rates in the outskirts, starts from INR1000 per sq ft to INR2400 per sq. ft.
  • Infrastructure is developing in the right way in Electronic City, which is likely to grow further. Once the Bangalore Metro Railway starts, which can apparently step up the overall capital value.

So, if you are looking for a plot, real estate investment in Electronic City is the ideal place for IT professionals.

 

Source & Image: Internet

 

Anjali Radhakrishna

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