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Bangalore Property Prices Higher Than Other Areas
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On recent survey stated an article on the phenomenal rate at which the Bangalore property market is growing. It seems this latest trend of growth just continues to gain more and more momentum as the months pass by and Bangalore properties for sale are now on average more expensive than properties in other areas, making prime property the most expensive of its kind in the world.
The study carried out by a Bangalore estate agent has revealed that a Bangalore property that costs around the millions mark is currently being sold at a rate of about per square foot of property. This is significantly more than electronic city, Whitefield, Sarjapur road, Banerghatta road which is second on the list and selling property at an average of £2190 per square foot of property. To give you an idea of how expensive this is, picture a normal sized walk in closet in central Bangalore. At a price tag of square foot of property, you could buy a 1, 2, 3 bedroom house for the same price as a walk in closet in central Bangalore.
The current rate at which the property market is growing is the fastest in 30 years. Real Estate Agent Clap ham North has been part of the research which has revealed that people who live in prime areas such as electronic city, Whitefield, Sarjapur road, Banerghatta road are currently earning more on their Bangalore properties.
The current growth in the Bangalore property market is expected to stabilize in the middle parts of the year and then regaining pace again towards the end of the year. This is all good and well for the Bangalore market, however there are still serious concerns about the rest of the country's property as there is not much growth showing in other parts of India. Let's hope the Bangalore property industry is able to carry the weight of the entire country!
Real estate in Bangalore is rising beyond the city in order to accommodate the growing population. This has led to many new growth corridors that have become new investment options for the investors. The city limit has started expanding and the suburbs are growing in terms of demand and supply. The common question that comes to mind is do these new areas really have potential for property investments? The suburbs have a captive growth potential and thereby offer sustainable returns over a period of time. As per the experts predictions investments done for longer periods in suburbs offer a very good return. Flats for sale in electronic city, Whitefield flats, projects in Sarjapur road, properties in Banerghatta road works as a good bet due to various factors. The connectivity, the creation of micro market, proximity to workplaces and social infrastructure are some of the contributing factors that drive realty activities in these areas.
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