Bangalore on a Realty Upsurge

International Corporate Playing Groundthat are permitted to import duty free capital goods
Bangalore, popularly known as the knowledge capitaland raw material. The movement of goods to and fro
of India has become a hottest real estate destinationbetween ports and SEZ are unrestricted for attracting
for investors across the world. Real Estate Bangaloreforeign and domestic investments. As setting up of
has attracted Indian bigwigs like Infosys and Wipro toSEZs is the flavor of the season among most Indian IT
global majors like IBM and Dell and hordes of otherfirms therefore India real estate developers are also
international corporate giants towards real estate andmarching ahead by setting up similar office space for
the quest of space is for hundred and hundreds ofhaving a sound grip in the real estate investment.
acres.Bangalore After 5 Years
Special Economic ZoneSo, far Infosys has built 2.1 million sq ft of office space
The sudden demand of huge space in Bangalore is aat its 10 development centers this financial year and it
result of keen interest shown by Infosys Technologiesplans to rise up the space to 4.1 million sq ft office
and other revered companies such as Wiprospace by next fiscal. This step is taken to meet the
Technologies in development of commercial propertyfuture requirement of the company as the company is
in India. Infosys plans to set up a 50-acre specialgoing to employ more people in the near
economic zone in (SEZ) in Mysore, and has beenfuture.World-class IT parks are the latest buzz in the
allotted another 311 acres of land in Mangalore forreal estate segment and Bangalore is no exception in
similar purpose in the next fiscal.this regard. The world class International Technology
IT Parks & TownshipPark, Electronics City and Export Promotion Industrial
The development of SEZs, IT parks and integrated ITPark of the city have attracted global corporations of
townships is the next wave in the technology sectorhigh stature such as Dell, Microsoft, HSBC, Cisco and
after the software boom. It's going to be a big high forseveral Indian firms like Infosys and Wipro, to open
the realty sector as it has been estimated by thefacilities in Bangalore.
experts that the IT and BPO industries will beReal Estate Market Boom At Bangalore
employing an additional workforce of approximately 1The real estate market of India is presently growing at
million workers within a couple of years. These future30% per annum but it is expected to grow from the
infrastructure demands can be met through integratedcurrent $15 billion to $100 billion in the next 10 years.
IT townships and SEZs to sustain the country's globalWith the involvement of companies like TCS, Infosys,
leadership position in the IT sector.Wipro and Satyam which invest in capital expenditure
Foreign & Domestic Investments(capex) while acquiring property for operations, the real
The benefits of developing SEZs are diverse as theseestate market of Bangalore and India is going to
areas are specifically designated for encouragingwitness a meteoric rise.
growth of exports, having full flexibility of operations