Bengaluru is called the technical hub of India. This city also has another Nickname- Garden City. Bengaluru has now another feather in its hat. This Southern city has been awarded a place in the list of top 10 Asian cities for real estates. One leading consulting firm confirmed this good news. Bengaluru has seen a sharp rise in cross- border investments in real estate. In the fiscal year of 2017-18, the real estate sector of Bengaluru got a total $800 million or INR 5600 crore. This amount got nearly doubled in the next fiscal year. According to the statements from CBRE South Asia Ltd Consultant Firm, in 2018-19, $1600 million(INR 11200 crore).
Experts assume that this is the result of the latest law framed by the central government in 2014. The law was framed to set up the Real Estate Investment Trust(REIT) to bring transparency in the real estate market. This law made the investment process easier and crystal clear for the investors. So, investors became more interested to spend their money.
As per the reports of a recent survey, India is one of the five preferred markets in APAC after Blackstone, the Bengaluru based property developer Embassy and Global Privet equity firm became the first firm to set up REIT in March 2019. This was founded as a joint venture in the realty estate sector of Bengaluru.
This started a new trend and infrastructure
As per the report’s finding the investor became more interested in developing high- quality buildings as a revenue-raising way for developers. This, in turn, propelled organizations to give their lands in the lease or as purchased for the development of new projects.
Bengaluru is already a global city because there are many multi-national companies and many people from different part of India and the World work in these companies. Therefore, the hunt for office space and apartments for a living is always going on. This made Tech City a strong choice for investors and builders. The investments in Official sector, retail and residential segments became more profitable.
The survey also noted that investors became interested in building industrial and logistics park, re4sidential complexes, hotels and many other projects. The investors are also keen on lending their money in the retail sector.
Indian people have now money and ability to afford many so-called luxury items and services. Hence, they are ready and eager to become global consumers and spend money. Thus, the scope of investment in the logistics sector is growing. The experts hope that investors will be interested to increase their amount of investments in Bengaluru.
As per the findings, Bengaluru is also growing very fast. The financial status is also being improved steadily. This city is fast changing as global stakeholders in the IT, Biotech, Pharmaceuticals and Manufacturing and other growth sectors have made their presence felt in here. We hope that our beloved city Bengaluru will grow bigger after this report.