The real estate industry in Bangalore has witnessed unprecedented growth in the last decade or so. The results of this growth are visible in the established and modern infrastructure of the city which edges out many other Indian cities. One of the prominent features of Real Estate Bangalore has been the increasing number of high-end or luxury homes in the city.
The IT boom in the city of Bangalore has spurred the prices of properties in the city, especially in areas which are closer to IT and commercial hubs. At the same time, it has contributed to the increase in demand for high-end properties. As per estimates, more than 10,000 individual dollar millionaires reside in the city of Bangalore.
Individuals with such high net worth would definitely want to live in homes that match up to their standard. This is the reason why more and more builders in the city are coming up with luxury projects to meet the requirements of high value customers. There are a number of areas in Bangalore where high-end properties can be found.
Let’s take a look at a few of them.
Until the late 1990s, Whitefield used to be a small suburb of Bangalore which was not very developed. However, the advent of the IT industry transformed this suburb into one of the most popular commercial and residential areas in the city. Whitefield is now home to most of the major IT companies and corporate houses of the country. This region is also popular for its high-end residential properties.
The price range for these luxury apartments may range anywhere between Rs. 1 crore to 10 crore depending on the area in square feet. There are several existing and upcoming luxury projects in Whitefield. Some of them are Prestige White Meadows, Adarsh Palm Meadows, Prestige Mayberry and Skylark Arcadia among others. The type of houses ranges from apartments to villas.
Hebbal is another major hub for high-end residential properties in Bangalore. Hebbal may be well known for a lake with the same name in the area and its flyovers, but of late it has gained popularity as a residential hotspot for luxury homes.
Here the prices of properties may range anywhere between Rs. 1 crore to 7 crore. A few of the major projects for high-end homes in Hebbal are Embassy Lake Terraces, Prestige Misty Waters, Godrej Platinum and RMZ Latitude. Proximity to the Manyata Tech Park, one of the biggest IT parks in the city, has contributed immensely towards the increase in residential constructions in the region.
HSR Layout or Hosur Sarjapur Road Layout is one of the newer suburbs of Bangalore city and is known for its calm and serene environment filled with greenery. This area has seen a monumental increase in the number of residential developments mainly because it is closer to the important commercial hubs in the city. The price per square foot for high-end properties in HSR Layout can vary from Rs. 5000 to 15,000 per square foot.
Some of the popular high-end residential projects in this region are Vandana Marvel, Sobha Onyx, Devinarayans Lexington Terrace, Salarpuria Serenity and Mantri Sarovar to name a few. The coming up of renowned educational institutions in the region is only helping to increase its popularity as a residential haven.
Apart from these three, there are several other areas in Bangalore where the demand for high-end properties has risen. Koramangla, Devanahalli, Richmond Road, Old Airport Road and Indira Nagar are some of these areas. The rapidly growing Real Estate Bangalore industry has received a major boost with increase in the construction of high-end or luxury homes.
High-end properties are targeted by IT and corporate professionals earning hefty pay packages as they want to live in houses that live up to the standard of their job profiles. The other category of customers who purchase luxury properties are entrepreneurs who run large businesses with a huge turnover and high on profits.
High-end or luxury homes provide top-notch facilities for those residing in such properties from swimming pools to gyms to community halls to children parks to integrated sports complexes; you name it and they have it all. There is also the added advantage of a cleaner and greener environment in and around high-end homes.
Living in today’s luxury homes can be considered as the modern equivalent of living in palaces. The affordability may come to one’s mind when thinking of such homes, but then the high-end homes are not for everyone, are they?