Bengaluru has been the preferred choice for jobseekers, entrepreneurs, NRIs, and the like for the kind of opportunities it provides.
Real Estate Investment: The buyers often purchase plots for personal residences or as an investment. The primary driving force behind the growing demand for plotted developments is the desire for autonomy in designing living spaces, a challenge often encountered in apartment living. The higher income individuals are increasingly investing in plotted developments to create their own weekend retreats or private villas.
Bengaluru has been the preferred choice for jobseekers, entrepreneurs, NRIs, and the like for the kind of opportunities it provides. Due to the city’s vibrant culture and ecosystem, people invest in all forms of real estate with plotted development as its fastest-growing segment. It has also emerged as one of the top residential hotspots in the country.
Rohit Cariappa, Director, Sales and CRM, Assetz Property Group said that the areas like Whitefield and Sarjapur are garnering significant attention for plotted development sales. He also identified the factors driving the sales of plotted developments in the IT hub including competitive pricing, flexibility to construct your home at your own pace and time, and the advantages of gated community living.
“A lot of buyers want to escape the city or their apartment space and experience the benefits of larger homes, along with lush environs, good infrastructure, and more amenities within a gated community. North Bengaluru’s popularity stems from its abundance of larger plotted development projects, proximity to IT hubs and business districts, and improved connectivity and accessibility to the international airport,” says Cariappa.
Karnataka’s capital is witnessing a surge in the demand for quality land parcels at scenic locations. This surge in demand also comes on the back of rising land and property rates which have grown at an accelerated rate post-COVID-19 pandemic. As a result, plotted development projects launched by reputed developers are being sold out in a short period.
Darshan Govindaraju, Director, of Vaishnavi Group said that there will be high demand for larger land parcels as part of plotted development which are close to nature but also well connected to the city will be in vogue as investors focus on healthy living. “This will also drive up the demand for premium plots as developers will look to offer value-added services such as community centers, and cultivable land to grow vegetables among others to fulfill the evolving demand of investors. This assumes significance as premiumization is going to be the biggest trend in real estate and plotted developments are simply following the suit,” he said.