Bangalore is the IT hub of India, which means this city is expanding beyond boundaries. People are shifting to Bangalore from different states and countries, so residential options need to broaden too. We often dream of luxury living with houses because wanting a property with modern amenities is a must for today’s working generation.
Getting a luxurious apartment in some posh area is the dream of many working professionals. So, before moving to the toniest listing, let’s start with listing factors that can mark the value of residential space.
Factors to determine the value of a residential area
Location is always the key factor
Location is the golden standard of real estate and is the single most dominating factor in valuing a locality. Likewise, the property valuations are at their peak in City Center and neighbouring areas but declines as you move onto the outskirts.
So for having luxury apartments in Bangalore, you need to do much listing work and research to get a perfect deal.
Modern Infrastructure
Infrastructure here refers to roadway, highway, flyover, malls, airport, bus terminals, and other establishments that increase locality value. Even social establishments add up value to a place like entertainment centres, famous food destinations, educational institutions, retail markets, and more.
Accessibility is an essential facet of infrastructure. More infrastructure means more real estate value.
Market and Supply
The value of real estate depends on the demand and supply chain. A locality that has higher demand in the market will have a higher value in the property market.
General amenities
Localities with proper electric circulation, parking lots, parks, telephone connections, and community centres retain a higher value in an estate market. Plus, luxurious house developers provide modern amenities like golf courses, five-star living services, helipads, and are continuously changing the landscape of luxury homes.
Land availability
Availability of substantial land in the locality for real estate development declines its value in the property market. The locality where the property is comparatively meager gets the highest value. As land is less, so is the residential space, so the locality value increases here.
Statistics on the real estate industry
- In 2019, more than 48 thousand housing units were sold in Bengaluru.
- For FY 2015-20, the growth rate of the Indian real estate market was estimated to reach 11.2%
- Indian real estate market is expected to reach 180 billion dollars in 2020.
- By the year 2040, the real estate industry will reach INR 65,000 crore from 12,000 crores in 2019.
- Indian real estate sector is predicted to reach a market of 1 trillion US dollars by 2030.
Five top localities in Bangalore, offering luxurious apartments
Shanthala Nagar
Shanthala Nagar is located in the heart of the city comprising Vittal Mallya Road, Lavelle
Richmond town is one of the old and valued locality in Bengaluru. As the name suggests a foreign lineage, this place is famous for its colonial heritage. It is a vital part of the multicultural ethos in Bengaluru. This place has a robust colonial vibe and is a perfect dwelling for professional peoples.
This area covers some prominent educational institutions, hospitals, and recreational centres. Richmond town has an excellent metro and road connectivity and has all the general amenities. It also shows off some of the most luxurious commercial and residential projects.
Sadashivanagar
Sadashivanagar is home to many famous politicians, movie stars, and industrialists. As central Bengaluru is close to this place and it is also accessible to northern suburbs, it retains high value in the real market.
Road, and Kasturba road. This location has both old and new establishments making it one of the most esteemed addresses in Bengaluru. Lavelle Road is a single stop for shopping centres, lavish restaurants, and the historical D’Souza Layout.
Kasturba Road includes landmark buildings such as Venkattapa Art Gallery, Government museum, Kanteeveera Stadium, and Vishveshwarya Museum.
In Vittal Mallya Road you will find renowned luxury brands and the famous UB City mall. There are many commercial establishments like prominent hotels and shopping centres in this area.
This place has the best luxury apartments and also offers numerous amenities.
Richmond town
This posh area is also home to one of the four pillars constructed by Kempe Gowda, founder of Bengaluru, to mark the old Bengaluru city’s limit. This place also has a royal angle built on former palace grounds and retains the exquisite charm of the bygone era. This place offers some of the most luxurious housing experience and is among the city’s highest real estate values.
Indiranagar
This east Bengaluru locality is an upscale posh area spotted with independent houses, bungalows, and high-end luxurious apartments. This locality is well connected to MG Road by the Inner Ring road. This place is a workstation for many prominent businesses and increases its value in the real estate market.
Indira Nagar is a cosmopolitan locality dotted with global branded showrooms, cafes, expensive restaurants, educational institutions, and pubs. Namma metro provides good metro connectivity and is vital in increasing its value in the real estate market.
Malleswaram
This area is in the northwest part of Bengaluru and is considered one of the oldest localities. Malleswaram is a vibrant blend of old and modern times and has some popular retail establishments like Margosa Road and Sampige Road.
This area is well connected with the city, Namma metro and Yeshwanthpur railway station. This place mostly has independent houses, and the current scarcity of land in this area has led its value high in the estate market.
Conclusion
Bangalore is a beautiful city. It has city vibes with a calming tone, a perfect blend of weather throughout the year makes it an ideal working station for most people. Even after so much industrialisation, the place has not lost its charm. Spots like City Center and its nearby areas still hold the
same appeal and allure to every newbie.
Luxury living has always been the top priority of wealthy people. If you are looking for opulent living, make sure to visit the official website of La Palazzo to get your luxurious dream house.
