Cutting-edge Technology to Upgrade Bangalore Real Estate

By: George Gonigal

With implementation of Digital Urban Spatial Repository (DUSR), Digital Urban Monitoring and Land Management information system (DUM & LMIS), Bangalore is set to transform into more efficient, competitive city in the global arena. The project would include improvement in land use, social and physical infrastructure, housing demands, public utilities and advancement in civic amenities required for descent lifestyle of international standard.

This will attract large number of foreign investors who would like to buy a property in the city and make investments and further boost the property values. The new plan ensures regulated and advantageous urbanization with the main objective of sustainable development. Property values are directly related to city development thus future expansion will increase capital and rental value of the city. The new plan will also help in ruling waste land to allocate it for better purpose and to make spatial transformation as per requirement. It also aims to optimize use of valuable resources and is cost effective and more accurate.

Further in view of handling the growing pressure on city infrastructure and subsequent impact on city real estate, the Bangalore Development Authority has also planned construction of flyovers at four prime locations of Bangalore, and one of these flyovers is coming up at Whitefield-KR Puram belt.

To further decongest traffic and enhance inter-state connectivity a railway track and road network will also be build, which will link the place with National Highway.

Office rentals

'Office rental in Bangalore has been at sky high, as far as CBD and other prime commercial locations are concerned and the demand level has been gradually going down. But that does not really mean that the market is slackening,' says a Bangalore based property agent.

He added that the in reality the demand is actually shifting towards the emerging commercial centres, where the property prices and rentals are comparatively lower.

Market experts also point out that the property values in CBD locations are bound to remain at prohibited levels since the vacancy rates are even lower than 3-per cent, and in this case the availability of office spaces is really not there.

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