Introduction: What’s Special About Bengaluru?
Bengaluru is located in the core of IT advancements of India. This is a city which has quickly progressed from the constraints of history into a new age characterized by the blend of modernization and cosmopolitan lifestyle. For NRIs looking for not just a real estate property to buy but a chance to be a part of the growth and multicultural society, Bangalore is the answer.
This is where potential, investment dreams become a reality. Marketed as a property dreamscape, Bangalore’s real estate investment is a paradigm shift for NRIs and gives them a whole new outlook of an appealing intelligent, multicultural and active city.
In the post, Dream Location Developers will highlight the various reasons as to why Bengaluru is one of the most sought-out cities for the NRIs and why it is the perfect city for home real estate investments. This is a city that not only has opportunities to grow in real estate but also fosters innovation and inclusivity.
Growing Industrial Center
The IT capital of India is seen as Bengaluru, which attracts many multinational companies tech parks, and start-ups and has become a growing industrial center. The vivacious economy of the city coupled with employment prospects results in high demand for both residential and commercial properties. In investing in real estate in Bengaluru that would allow NRIs to access the ever-increasing job opportunities and the housing needs of the new entrants.
Low Taxes for NRI Investors
NRI real estate buyers do have the best tax advantages. More than in most developed countries, there is no limit as to how many properties an NRI can own in India. This makes it possible for NRIs to acquire several properties and earn good returns through rental, short-term and long-term capital gain, and leasing income.
More Indian origin constituents can become eligible for tax benefits while taking loans to buy properties in India. Such benefits include the tax deductions for the principal amount repaid and the interest paid on the loan as provided in Section 24(b) and Section 80C of the Income Tax Act respectively.
The Multicultural Setting of Bengaluru
In their study, Gupta & Pramod (2016:30) note the following ten factors which exemplify Bengaluru’s multicultural character: cosmopolitan society, international culture, multilingualism, international educational institutions, leisure activity, and international communications. Multiculturalism and inclusion are two factors that ensure that NRIs and their families are most able to adapt to the climate of the city and consider it as a location for long-term business, especially in real estate and other areas. The cosmopolitan character of the city only serves to enhance the ambience making it more appealing for NRIs who wish to live in a modern and urbanized setting of India central cities.
Huge Demand of Real Estate in Bengaluru
The real estate market in Bengaluru has several options for NRIs who want to invest in the property market across all demographic segments as the city has the lowest cost of living as compared to the other skyscrapers in the world. The real estate market has a large variety of apartments, from low-end properties to high-end bungalows and apartments that NRI’s can select from depending on their income and tastes. The city has well developed micro-markets which includes Sarjapur Road, Whitefield, Electronic City, Hebbal, Devanahalli, Yelahanka, Hennur, Jakkur, and Thanisandra that have become areas of great interest in the real estate sector. All these regions are well interconnected and have very close proximity to office complexes, technology parks, airport, and railway stations.
Appreciation & Returns Over Time for Investments
Investing in Bengaluru real estate turned out to be a self-sustaining business with an appreciation of the value of the property over the years. The city emerged with an ever-increasing population and demand for quality housing and commercial premises, hence the rise in property prices. Thus, the potential of long-term capital appreciates, which earns substantial return to the NRIs.
With such a strong rental market in Bengaluru, there is a possibility of NRIs earning regular rental income, which add on to the overall returns real estate investment India offers.
Conclusion: A place worth investing in
As a the center of many industries, cosmopolitan lifestyle, and variety of real estate projects, Bengaluru is an attractive city for NRIs who are keen to invest in the Indian real estate market. The possibilities of culture broadening, good returns, favorable property price, tax incentives, and strong growth of property value all make Bangalore one of the first places every NRI wants to make real estate investments in.
Bangalore is a thriving city in India and growing rapidly. This has opened up various investment opportunities for NRIs specifically in real estate. Developers like Dream Location and Dream Location have specific projects tailored for NRIs and as such all their projects are planned to capitalize fully on the growth to the urban areas of the city while coupling it with the beauty that Bangalore has to offer.
For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.