What has made Bangalore real estate market so very different? Has Bangalore been just blessed with climatic conditions, thriving economy of the region and talent pool or the developers in the city have been conscious to learn from the mistakes of other markets?
Forest View as a marketing terminology has been so much over-used and abused that the mere mention of the name turns off most of the discerning homebuyers. Most of the loud claims of Forest View turn out to be the disappointing experience with even patches of bushes over some drains being referred as the Green View or its extreme far end of being referred as the Forest View.
The data analysis reveals that about 26 million sq ft of Grade A office buildings are under various stages of construction in the city which will completed by 2020. Most of this upcoming supply is concentrated in Outer Ring Road (ORR), which is a major commercial hub in Bengaluru.
Some of the mega infrastructure projects, when completed, like Hyderabad Metro project next year and the other projects like Strategic Road Development Project of INR 3000 crore and four major flyovers/skyways to decongest busy junctions and nodal city points, are very promising from the standpoint of transportation in the city.
Ashiana Housing has been among the first to spot the potential of the town and move into Bhiwadi market. Its Joint Managing Director, Ankur Gupta agrees that when the promises of major infrastructure like roads, transportation, water, sewage facilities and education facilities are provided, the real growth of Bhiwadi is inevitable. Retail and commercial projects like Village Center, Angan Plaza are already there and many more landmark developments are also coming up.
In Pune, on the contrary, IT/ITeS may be one of the high demand zones for education, yet it is not that only IT/ITeS driven educational institutions are flourishing. As a matter of fact, and industry players agree to it, education sector has grown in the city in all the segments, be it IT/ITeS or any other professional/vocational education.
HUDA (Haryana Urban Development Auhtority) is making all efforts to project the market as investment destination and once operational the KMP (Kindly-Manesar-Palwal) Expressway will connect the Neharpar area with Delhi and Gurgaon. A three-km flyover between Delhi and Faridabad which will ease traffic bottlenecks at the Badarpur border has already cleared the traffic bottlenecks in the area. Six-laning of the existing bypass road starting from Badarpur, parallel to the Agra and Gurgaon canals is further adding to its connectivity.
Where is the growth corridor of Noida that could lead this market as another case study in attracting that kind of investment? The answer to this is not easy, not because of lack of a growth corridor but due to the problem of plenty. While the Atta Market of sector 18 continues to be its main Central Business District (CBD) even today, the emerging growth corridors are even better positioned to put Noida high on the radar of investors.
There are very few case studies where the developers have flocked out to cities on sheer promise without registering their presence in the four metro cities. However, such migration to magnet territory is today quite visible in Gujarat where the developers from other states are increasingly flocking, most notably in the city of Ahmedabad.
Indirapuram has been the introduction of Delhi-Noida-Ghaziabad to modern living that was till then the privilege of only the luxury buyers of Gurgaon. Most of the residents of Mayur Vihar, IP Extension and adjoining areas of Delhi were exposed to the modern urban housing with club, swimming pool and other high-end amenities in this market. Other residents of Noida and Ghaziabad had till then availed only the plotted developments and apartment with amenities was introduced to them here only.