Latest Projects in Bangalore
Latest Projects in Bangalore
The Karnataka government has been at
the helm of things in attracting interest from many large real
estate Bangalore developers for the 106 acre, Rs.350 crore biotech park projects in Bangalore.
The proposed “Helix” park located in Electronics City Phase 3 has its goals
clearly cut out. It aims to attract biotech companies, including startups,
by providing infrastructure such as office space and educational and
research facilities within the vicinity.
Similarly, there is no dearth
of projects funded by FDI in India’s real estate sector. Vancouver-based
Royal Indian Raj International Corporation (RIRIC) is investing $2.9
billion in a single real-estate project named Royal Garden City in Bangalore
over a period of 10 years.
Originally called Jagdish Tytler’s NRI City, it has a retail value of
$8.9 billion. It can easily be one of India’s largest FDI projects and
Asia’s largest new city development till date.
This exclusive city will
be located 20 km from downtown Bangalore in the direction of the proposed
international airport.
Knowledge City is being developed specifically to meet the requirements
of the IT industry’s growth in Karnataka.
The Knowledge City will be
connected to the upcoming Bangalore International Airport by an eight-lane
highway. Once completed, it will connect the airport and the Knowledge
City in as short a time as a 30-minute drive.
Integrated township, which would have office space, residential colonies,
hospitals, shopping malls, schools and all the required amenities have
gone down well with customers as well as developers.
Companies setting up shops also believe that employees must reside in
the complex, which will result in less congestion in Bangalore city.
The government has conceived development of more satellite towns in
and around Bangalore that can help ease its congestion and relieve pressure
on its infrastructure
Bangalore is especially hot in the residential market. Some top end
projects aimed at NRIs in Bangalore are Prestige Shantiniketan, Puravankara
Fountain Square, Prestige Ozone, and Orchid Green.
Homes in these developments
will set you back by $70,000 to $350,000. They boast imported wood and
fittings and above all offer exclusivity. The projects have features
like squash courts, health spas and other luxury features. Prestige
Shantiniketan is another property which sold out like hot cakes. Thirty-five
to forty percent of the buyers constituted NRIs.
A project called Lifestyle Habitat is a marvel; 60 percent of its inventory
was sold within four months of launch. It is modeled after the Malaysian
Petronas Towers and comprises 24 floors and 100 units. Buyers in Lifestyle
Habitat are from Singapore, Nigeria, Djakarta and the Middle East. It
is the U.S. based Indians though, that has a taste for luxury apartments
and independent villas with facilities.
The concept of independent villas has so mesmerized people that projects
by developers such as Sobha, Brigade and Mantri have attracted considerable
buyer attention. They have all the trappings of world class amenities
coupled with the comfort of a home. Gymnasium, shopping malls, medical
facilities, and tennis courts are a given.
Photo: Bangalore skyline 2011 (6720868413) by Saad Faruque from Bangalore, India, licensed under CC BY 2.0, via Wikimedia Commons.
