While buying a property in North Bengaluru: consider this

One of the most commonly discussed topics in the real estate sector is the prospects of buying a property in North Bengaluru. The property buyers like you are caught up in a decision to invest in the right project, however, I think there are more important aspects that needs to be considered.

The truth is, when it comes to buying a property, the world we live in today is totally different than it was for your parents. The older generations, followed a conventional approach and invested in properties approved by government agencies. Things have visibly changed now. The outbreak of Coronavirus has displaced the working structure of our economy, but the desire to buy a property remains unchanged. Buying a property is part of our culture, and no one wants to be left out. The good news is, it’s possible to buy a property at one of the fastest growing corridors of North Bengaluru. A thoughtful approach can help you avoid mistakes and the potential to lose money.

Kempegowda International Airport

There are lot of different opinion when it comes to buying a property in North Bengaluru, however, the ecosystem over the next couple of decades is going to be phenomenal as the real-estate portfolio expands dramatically. The best example is the Kempegowda International Airport. The government authorities laid the foundation for infrastructural growth by operating the International Airport. The KIA had a major connectivity issue which was soon resolved with the construction of 6 lane elevated expressways connecting other parts of Bengaluru.

With a wide range of infrastructural development, the hospitality industry soon caught up and started their operations of serving the business people and travelers. The growth story of North Bengaluru was no longer reserved for the business travelers, the availability of land and better infrastructure made way to some of the prominent IT and Aviation firms setting up offices across Devanahalli. 

Key Infrastructure projects across Devanahalli

Here are some of the large-scale infrastructure projects lined up across Devanahalli:

  1. Aerospace SEZ
  2. Thysenkrupp Aviation
  3. Wipro Aerospace and defense sector
  4. Boeing Global engineering center
  5. IT Investment Region
  6. Metro phase 3

As you can see, this is not a conventional investment portfolio. This is how the investment of future will look like. With more employment opportunities, areas around Devanahalli has witnessed a surge in residential and commercial properties. You don’t have to be rich to buy a property. What you need is the interest to buy a property, a guidance to buy the right property (More about this in the coming days) and a little bit of patience.

A lot of real estate projects that pop up every day will build a lot of hype. Your job is to do proper research and determine which project will give you results when everything else disappears.

The point is to get you thinking about the long-term, and like anything else, it’s all about trends – like few years back it was about Orkut, and the next decade, it’s about Facebook. Trends keep changing and that is why I encourage you to invest in property that has a steady appraisal. You should do your due diligence before buying the property near Devanahalli.

What should you know before buying a property?

The purpose of this article is not to persuade you to do anything. Buying a property isn’t that hard, but I do want to leave a cautionary word. When society deems something promising, don’t rush in without knowing what you’re getting yourself into. The one rule I can give you right now is “Never spend your money on something you don’t understand”. Always seek an expert advice.

You exhibit lack of conviction when you don’t understand something. You risk being swayed away by the hype and take risky decisions. All the cautionary note has one thing in common, it represents a societal shift in what it means to buy a property approved by government. Always buy property that are approved by CUDA or BIAAPA.

Lastly, I hope this article was helpful in providing some insights in property buying decisions. Be sure to do your research before you take any financial decisions.

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