Pick the right neighborhood for your home in Bangalore
In a city such as Bangalore for all the features and amenities within a home or a community, a key factor that determines a home purchase of any property is the neighborhood. A good neighborhood for flats in Bangalore greatly appreciates the value of a property. Similarly even a luxury apartment in Bangalore at not-so-good location depreciates its value. Therefore before considering buying apartments in Bangalore, it is important to understand what constitutes a good neighborhood and its possible impact on your home.
Neighborhoods in Bangalore for luxury properties, in the immediate vicinity of special economic zones, technology parks, financial districts and other economic hubs give a higher desirability factor. This is because of the employment opportunities that arise due to the presence of the fore-mentioned hubs and the trickledown effect they have on the immediate surroundings.
Another important factor that enhances the appeal of the neighborhood is the existing or planned social infrastructure. The best builders in Bangalore have their projects location near Parks, public access, libraries, banks, facilities for the elderly etc., to offer the much needed social infrastructure that can greatly enhance your everyday life.
Every neighborhood in a big city such as Bangalore goes through a definite cycle of growth, stability and decline.
The growth phase for the best builders in Bangalore is one wherein the infrastructure and investments in the neighborhood are still on the rise. This makes it a desirable option but is conditional to the actual realization of these investments. While there might be plans in place to scale amenities in the neighborhood the actual realization might be hindered by various unforeseen factors – this implies that although investing in such neighborhoods is desirable it is still fraught with a little bit of risk.
Once you have found yourself the perfect neighborhood in Bangalore that fits your budget and necessities a quick check on the following yardsticks will tell you if it’s a value-for-money purchase or otherwise. Transportation; access to arterial roads; and presence of services such as banks, schools, shopping centers etc.
Several neighborhoods that command the highest prices are the ones with excellent infrastructure and community services. The existence of required infrastructure, and in the prime of its economic life, these neighborhoods are cost prohibitive and are likely to be out of the reach of first time and budget buyers. If price isn’t a concern these are the most attractive options available and will further appreciate in value for the foreseeable future.