India was a closed economy until 1991, but from then on the government began to slowly open its doors to foreign investment. This fuelled the globalization of the Indian economy. Bangalore too duplex apartment in bangalore was benefitted by the globalization move. Bangalore was once called the Garden City for its many parks and green patches. This apart, the Victorian architecture and the pleasant climate made Bangalore a preferred choice for many to make their homes in the city. However, the advent of multi-national companies, especially the IT sector, was a major reason for the changed skyline of Bangalore that one witnesseses today.
With the influx of job seekers from all over India and around the world, the population increased and the demand for apartments in Bangalore was created, which gradually increased over a period of time. Real estate in Bangalore, which was pretty slow till then, witnessed a sudden growth. Since then, Bangalore real estate has been on the move forward.
The housing needs of the growing population that came along with the setting up of MNCs had to be addressed. Real estate developers in Bangalore cashed in on the opportunity and constructed apartments in Bangalore. Bangalore apartments sprung up everywhere in the city. Old buildings made way for new apartments in Bangalore. Every inch of land within the city limits was used for development purpose. Bangalore apartments not only moved horizontally, but vertically as well. The saturation point led to the developers moving to the outskirts of the city.
Until recently, areas in Bangalore like Jayanagar and J. P Nagar had very few apartment blocks. Now, one will be amazed to see a number of apartment blocks that have come up in these places. Areas like Bannerghatta Road and Kanakapura Road in the west, Koramangala and Sarjapur Road in the south, and Yelahanka in the north of Bangalore has been transformed with the construction of apartment buildings. The entire stretch along the Outer Ring Road is filled with apartment complexes. NRIs too began to invest in Bangalore apartments, houses and villas. The choice of Bangalore apartments are so vast today that one can find an apartment based on the specific requirement, be it luxury, space or money.
The highest demand for Bangalore apartments comes from the working class. With the household income moving upwards, families are opting for a second apartment in Bangalore. Buying apartments in Bangalore is a lucrative investment as there is always an increase in the value of real estate. It is also a money-saver as there is a tax benefit on the home loan availed.
The reasons for preferring Bangalore apartments as against houses are because the apartment complexes provide security, which is a major concern. Also, the amenities that are provided within the apartment complex like club house, children’s play area, swimming pool and in the case of up-scale integrated townships facilities like shopping complex, hospital and even a school, make living very comfortable and convenient.