March 03, 2023 | mins read
Due to the expanding IT industry and rising exports, Bangalore has become a popular destination for investors across India. Additionally, Non-Resident Indians who wish to return to their homeland and invest in businesses have also demonstrated a growing interest in Bangalore. This growth has had a significant impact on the residential real estate market in the city. However, if you wish to maximise your profits, it is essential to understand which type of housing is more in demand among potential home buyers. Independent houses and flats both have their own pros and cons, so it’s important to compare the two before making a decision.
Independent Homes VS. High-Rise Apartments:
The Area in Spotlight
A particular area that serves as an example of Bangalore’s real estate market and highlights the differences between apartments and independent homes is South Bangalore. This region has the highest number of residential properties (33%) available for sale in Bangalore, with society apartments accounting for nearly 80 percent of the total residential stock (Source: Bangalore Metro: Map, Timings, Route, Stations, Progress (2023)).
South Bangalore is home to numerous IT parks and commercial buildings that house thousands of offices. In this area, there is a clear preference among buyers for apartments, especially among the IT crowd who form the majority of residents. On the other hand, only locals or families from nearby towns tend to opt for independent homes. The locals may either own or buy a plot in the outskirts of the city, where they can construct their own homes. In such cases, they might keep one floor for themselves and build another floor to rent out.
As South Bangalore is connected to the new Peripheral Ring Road and the upcoming Bangalore-Chennai Expressway, there are expected to be more commercial opportunities in the region, which could lead to an increase in residential demand in the future.
Although the decision to choose between a house or an apartment is up to the individual, there is a clear trend towards apartment buildings. In recent years, Goyal & Co. | Hariyana Group has developed several apartments in some of the most posh localities of Bangalore to make living more comfortable and convenient. The predictive trend for the coming years is that there may be a rise in high-rise developments, particularly for affordable housing. However, other factors such as location, flexibility, privacy, safety, and amenities may also play a role in one’s decision-making process.
Goyal House,
Opp Karnavati Club,
S G Highway, Ahmedabad - 380015
info@goyalco.com
+91 757500 0000
Unit 203, 2nd Floor, Barton Center, 84, MG road, Bengaluru - 560001 info.bng@goyalco.com +91 80888 66000, +91 80888 33000