Home to some of the country’s most happening malls, IT companies and e-commerce players the Silicon Valley of India continues to be a thriving commercial hub
New Delhi: With the headquarters of some of the country’s biggest IT firms and e-commerce companies like Flipkart and Bigbasket, Bengaluru is a thriving hub.
Known as the Silicon Valley of India, this bustling metropolis has not only established itself as a global tech hub but also as a thriving centre for real estate investment and development.
Bengaluru Boom
At the heart of Bengaluru’s real estate boom lies its commercial and residential sectors, which have witnessed exponential growth in recent years. With a thriving IT industry and a burgeoning startup ecosystem, the demand for office spaces and commercial real estate in Bengaluru has soared, leading to the development of state-of-the-art tech parks, office complexes, and co-working spaces across the city. Areas such as Electronic City, Whitefield, and Manyata Tech Park have become synonymous with innovation and technological prowess, attracting leading multinational corporations and startups alike.
In parallel, Bengaluru’s residential real estate market has witnessed a remarkable transformation, with the emergence of luxury apartments, gated communities, and integrated townships catering to the diverse needs of its cosmopolitan population. From upscale neighbourhoods like Indiranagar and Koramangala to emerging suburbs like Sarjapur and Bannerghatta, Bengaluru offers a plethora of residential options, each imbued with modern amenities and world-class infrastructure.
A report by Anarock states that Grade A developer dominance fuels 40% of sales of new launch supplies in the top 7 cities in 2023, out of which 63,980 units were sold in Bengaluru in 2023. The sale share of newly launched units was 51% – up from 27% of 50,450 units in 2019.
At least 97 land deals for 2707+ acres closed across India in 2023, and Bengaluru had 11 separate deals sealed accounting for a 16% share of the total land area transacted in 2023, with 424+ acres changing hands – 10 deals for residential development, and one for manufacturing.
