South India is known for its culture and traditions. It is not the only thing that the southern states are known for. The real estate markets in this part of the country are known to be stable and profitable when compared to cities such as Mumbai and Delhi National Capital Region especially in the current real estate climate. Let’s take a closer look at some of the top cities in the southern part of the country.
There are three big markets down south. They are Hyderabad, Chennai and Bangalore. Presently the markets which are doing well of the three are Hyderabad and Bangalore. Real estate growth in the capital city of Tamil Nadu has been subdued for the last couple of years. Prices in this city has been going up and buyers have become weary of buying properties here. On the infrastructural front, the Chennai Metro Rail project is the only biggest ongoing project here. The floods of December 2015 have shown that the city is incapable of handling heavy monsoons. So the city is currently not in a good position but this bad spell might not last for long.
Coming to the capital of Telangana and Andhra Pradesh, things are starting to look up for Hyderabad. This city was once one of the most in demand real estate destinations in the country. The bifurcation of the state of Andhra Pradesh caused many stirs in the city which ultimately cost it dear. Hyderabad was quite popular with the Information Technology sector and many premier companies from this industry had set up their base here. But they stopped expanding operations because of the unrest. After the bifurcation there has been more clarity on what is going to happen to the city. Nearly two years after the bifurcation process came to an end, Hyderabad real estate is slowly heading towards full recovery.
This leaves us with Bangalore. Apartments in Bangalore are quite popular with buyers. You may ask why. Well the city is called the “Silicon Valley” of the country. Presently the city has the largest concentration of IT companies in India. This sector generates a lot of employment opportunities. When there are employment opportunities in the plenty real estate tends to thrive. This is the main reason why apartment in Bangalore are popular.
Southern Bangalore is a real estate zone which does quite well. There are many IT companies present here. Bannerghatta Road is located in the southern zone. This road connects three areas in the city namely Bannerghatta, Jigani and Anekal. There is good demand for apartments for sale in Bannerghatta Road. This is because the stretch is located close to many IT hubs in the south. Apartments for sale in Bannerghatta Road are priced at INR 4900 per square feet on average. The social infrastructure along this stretch is good. Besides this stretch the other micro markets in the southern zone are Sarjapur Road, Kanakapura Road, HSR Layout and JP Nagar.