Bangalore real estate market is witnessing a noticeable hike in the rentals of commercial and retail properties these days. With the Central Business District region on the verge of saturation and the increasing demand for quality space has resulted in an increase in real estate rental as well as capital values.
Bangalore is experiencing an unparalleled growth in commercial sector and the city is striving for more space in Central region. The industrial and IT sector is expanding and requirement for land, retail and office space is very high. This has resulted in a tremendous increase in the values and the owners are charging according to their wish and requirement.
According to property consultants the owners of the offices and commercial places are getting values of more than 20-50 per cent if they own a property at the premium location. And secondly if they give it to MNC or any IT Company for rent.
Crunching quality space in the premium localities has created this scenario. Demand for luxury space with better infrastructure, location and accessibility is the first preference of the industries. For the same reason capital and rental value across premium localities are touching sky.
Although most of the new upcoming property projects in Bangalore are focusing on this requirement and are working on providing better infrastructure and facilities to the clients. Facilities such as food court, gym, playing area, parking, music and entertainment room etc are the common feature in the upcoming commercial property projects but they are coming on the peripheral and the outer ring road area of Bangalore due to land availability.
Thus despite of the above fact, CBD region rental values are up swinging because it is the main retail and commercial hub of the city. So, those who want to stay in CBD regions are paying high rental values and Investors are earning good returns from commercial property.
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