Investing in the heart of the hub
Electronic city became a common name in every Bangalorean’s house hold once the IT boom hit the IT capital of the country. Soon after the proposal of this place was made, property prices in the surrounding locality shot up. Least did the real estate investors anticipate the magnificent change to Bangalore was only a few steps away. Electronic city became the bustling new locality everybody wanted to be in and live in. The craze of living in and around electronic city helped localities in its proximity to develop and this further created more investment opportunities around Bangalore. Soon the other instabilities around the market caused saturation and stagnation of the selling market. But again now the market has picked itself up dusted itself and is back with the boom better than before to provide more homes, commercial spaces, rental homes and resale homes.
When the market started stagnating and stalling many people feared that their investment in and around Electronic city could be running them into loss. But experts always believed in this great locality for its perfect location and infrastructural amenities supporting it. The Electronic City is located 18 kilometres from city central via the Hosur Road. Spanning across 332 acres, it is segregated into three different phases i.e. Phase I, II and III. E-City is also embraced by other localities such as mico layout, HSR Layout, Kammanahalli, Bommanahalli and Bilekahalli. well-developed social infrastructure too entailing educational institutions like International Institute of Information Technology, shopping malls like Spencers Hyper Mart and Neo Mall and hospitals viz. Vimalalaya Hospital and The Apollo Clinic. Living comforts in Electronic City and travelling convenience are the two major reasons that draw technical professionals to this part of Bangalore.
Electronic city is a planned township. Conceptualized as an electronics manufacturing hub, the government had reserved as much as 330 acres of land to the project in 1978. However, instead of being a manufacturing hub, it became an IT Hub that did not require much of the land that was reserved for the project. So, there is much land that is suitable for development in this area. In E-city, today, there are many IT companies and residential projects. Like many other areas in Bangalore, demand for mid-income housing in the E-city is growing. The E-city is known for its villas and other luxury projects. But it also caters to mid-income home buyers. This is expected to the key trend in the next four to five years, fueling construction activity. The resale flats in Bangalore are considered to be equally priced as the brand new flats especially in the Electronic city belt and this is because of the advantage of location and amenities it offers. Average price of apartments in at least 10–12% higher in Electronic city than a regular 2BHK flat for sale in Bangalore. This value addition for this locality is primarily because of the great infrastructure and social development this locality has undergone. Experts believe the craze for this area is set to continue to make Electronic city a great investment destination.