The real estate landscape in India is changing. There have been several policy-level changes ushering a dynamic transformation in recent times. However, with the introduction of RERA, GST, demonetization and other reforms, the South Indian states remained largely unimpacted maintaining their momentum. The states of Bengaluru, Hyderabad, and Chennai emerged tall on the global real estate map becoming focal in the future real estate developments. These south Indian states adopted a new strategic approach making property investment more lucrative. They limited the new launches, focussed on the completion of existing projects and changed the project approach according to new consumer requirements. This three-pronged strategy helped improve their housing performance. The Magicbrick’s Prop Index report Q4 2019 stated, “the South Indian states of Bengaluru, Hyderabad, and Chennai emerged as the best performing market for 2019”.
Along with this changed approach, there are some specific factors why South Indian states of Hyderabad, Chennai, and Bengaluru are becoming a preferred real estate destination.
Robust Infrastructure:
The public infrastructure and transportation facilities are continually evolving in South India. As more people and companies are making these states their new base, better infrastructure is getting planned too. Like the metro project in Bengaluru is transforming the way people travel without adding to the pollution level in the city. The proposed metro lines covering Whitefield, Bannerghatta area, Bidadi, and Bangalore International Airport are nearing completion and even completed in some areas. There is also a significant suburban railway system planned, and the project of peripheral Ring Road is also under construction.
IT & Start-Up Hub:
Bengaluru already gets referred to as the Silicon Valley of India. The IT business continues to grow leaps and bounds in Bengaluru, Chennai, and Hyderabad. These cities are emerging as the main arm of the outsourcing business of the US, UK, and Europe. There are many more investors planning to set-up their IT back offices in these southern states. Along with the thriving IT business, these states are becoming the hotbed for start-ups in India. According to a report of the Financial Express, “Bengaluru, Hyderabad, and Chennai are among the top Indian cities for start-ups. There are around 20,000 registered start-ups in these states”.
Rising Retail Growth:
There is formidable retail growth fast taking shape in these South Indian states. There is a surge in malls, leading retail chains and supermarkets to cater to the rising demand for millennials. The changing lifestyle of people is the primary reason behind this paradigm shift. To cater to the needs of the globetrotters, more international and premium Indian brands are opening retail outlets in Bengaluru, Chennai, and Hyderabad.
Competent Social Infrastructure:
South India has always been ahead in the health and education sector. There are renowned old schools, colleges, and universities in Bengaluru, Chennai, and Hyderabad. Over time, new notable names added to the list and even premier healthcare facilities are making it more lucrative for people.
Rising Demand from NRIs:
The better infrastructure facilities and competent developers delivering projects on-time are making these South Indian states attractive for NRIs planning to invest in India. The overall NRI investment is projected around $25 billion by 2022, and out of this, a formidable proportion will get invested in South India. So, the fast and optimum rate of return is getting projected for this region.
Along with the above factors, the property price is also relatively competitive in these states. If you are planning to invest in BBMP approved flats in Bangalore, then let’s introduce you to Valmark developers. Catering to the people of Bengaluru for over 30 years, Valmark is a notable name in the real estate sector. Designing and delivering landmark projects, if you want a developer with a proven track record, then stop your house search with Valmark. If you are planning to invest in a mid-segment project nearing completion, then know about Valmark Orchard Square. It offers premium amenities like Indoor games, Sauna and Steam, Clubhouse, Children’s play area, Gym and Swimming pool in the budget. The proposed metro station is only 800 meters away. There are 2 and 3 BHK units available in this luxury project of Valmark starting at INR 70 lakhs. You can plan a site visit or connect with the sales team online to pursue it further. These flats for sale in JP Nagar 8th phase offer the best of contemporary and old Bengaluru lifestyle. To experience the best of both the worlds and for better property appreciation, it’s time you take the plunge and invest in one of the best mid-segment projects of 2019.
