Bangalore is one among the most developed cities in India and perhaps one of the best environments for entrepreneurship with the IT firms employing 35% of the aspiring population of India. That’s one of the prime reasons why the real estate industry of Bangalore is also flourishing in leaps and bounds as there is a perennial demand of 2 and 3-BHK apartments and homes for sale. Although the demand for properties in Bangalore is always there in more or less every area, especially the newly developing areas, the demand for apartments for sale is probably the most in the areas near the Tech Parks and one such highly populated tech park is Manyata Tech Park.
The demand for apartments near Manyata Tech Park is high owing to the location of Manyata Tech Park itself, spread across 424 acres. Being one of the leading software parks of the city and the volume of the working population engaged in it makes the area near the Park a sought after one. The area is endowed with superb connectivity with rail and road communication facilities and it’s also closer to the central business districts of the city. That makes the place the working population’s first choice pushing the demand for apartments near Manyata Tech Park higher. The analysts think that the demand of the homes and apartments near Manyata Tech Park and surrounding areas are at its peak with an end note that investment in real estate should be properly timed.
What’s considered a good investment in real estate?
An excellent investment in real estate is one that gives you a return on investment of double or triple the amount invested in a few years. It means that the home or the apartment for sale that you decide to buy today should yield a value of triple the amount invested in a span of five years. The fact is that the areas where the demand is high and there is moderate land supply, there would be a supply of real estate and 2 and 3-BHK apartments for sale built by different builders and real estate development firms.
There would also be a supply of commercial real estate with a gradual increment of social infrastructure in the area. This, in turn, increases the demand of the area and escalates the prices of apartments for sale in the area. This is exactly the case that is happening near the areas in the vicinity of Manyata Tech Park. Although the demand for apartments near Manyata Tech Park is pretty high, there is a quite high supply of homes and apartments for sale in the area too.
The other reasons for higher demand in the area are:
1. Large IT Park with Industrial Growth
Manyata Tech Park is one of the largest tech parks in Asia with the largest IT companies like TCS, Microsoft, IBM, Mcafee Software, Philips, Hitachi, Cisco Rolls-Royce, Nokia Networks, Intel Tech, Samsung, KPMG, Larsen & Toubro Technology Services, and several others. With the award of “Best IT Park” conferred to the Park in 2013 and with over 1,50,000 employees working in various companies, the frontrunners of the IT industry are choosing to set up their base in the park. This, in turn, is raising the purchasing power of the people desirous to settle in the area and looking for apartments near Manyata Tech Park. This has increased the demand for the high-end homes and apartments near Manyata Tech Park too with many developers targeting the segment.
2. Social Infrastructure
The residents of the houses, homes, and the apartments near Manyata Tech Park enjoy the dotting social infrastructure like schools, colleges, offices, markets, supermarkets, and malls in the areas near the tech park. The apartments near Manyata Tech Park, constructed by different developers in the nearby areas offer you a minimum lifestyle desired by the aspiring buyers! The reason is, the target audience asks for a minimum standard of lifestyle for which all the apartments have all or several amenities to keep the lifestyle offered, competitive. Apart from these, other utility centres like fire stations, police service, banks, and financial institutions, along with health care services are also present in the area.
Along with the social infrastructure, the upcoming transport infrastructure would also be strengthening the transport facility of the area as the extension of Namma Metro starts operational. That would also boost the property values of the area.
3. Promise of Peace
Peace is one of the desired features that the residents and the home seekers in the area look for as a mandatory factor. The apartments near Manyata Tech Park built by developers, be it in the affordable segment or the luxury segment promises a great and regal lifestyle with all amenities and ample greeneries to relish life. Living in these apartments would certainly ensure peaceful living with a serene surrounding in harmony with nature.
4. Transportation Network
Proximity to the International Airport and various IT companies and Tech Parks along with the accessibility to the Outer Ring Road opens doors for the area to have connectivity to the rest of the city. Being close to Hebbal and also the railway stations and the six-lane roads, the service of BMTC buses connecting other important parts of Bengaluru is also quite strong and frequent.
With so many options of homes and apartments near Manyata Tech Park, it may be a daunting task to select the right property for investment. The analysts feel that the escalation of the property value and the prospects of the area is one of the best in Bangalore. Keeping that in mind there are different grades of developers who have built projects with 1,2,3 and 4-BHK apartments near Manyata Tech Park. Most of them have the minimum amenities too for you to choose from.
There are high-end projects with super-luxury apartments as well. The experts feel that as the rate of growth of prices of properties in the area is high, the wise decision would be to invest on multiple properties rather than going for a property exceeding a crore of rupees as the increment of value of such properties may be marginal compared to the affordable ones. The area provides 1-BHK apartments near the Manyata Tech Park at a price of about Rs. 20 lakhs and 2- BHK apartment starts at Rs. 25 lakhs to Rs. 30 lakhs depending on the builder you choose. Nevertheless, there are branded builders of both the affordable and the luxury segment present in the area with spectacular projects for aspiring home seekers to choose from.