Challenges in the Exponental Growth in the Garden city of india

The garden city of Bangalore has many attractions like Vidhan Soudha, Lalbagh-laid by Hyder Ali in 1760, Visweswaraiah Museum of Science and Technology, Cubbon Park, Ulsoor Lake island which were widely know to the public at large who are residing inside India and also to public at large who are visiting Bangalore.

However in the recent past so many large commercial projects were established and are coming up proposed to be constructed in and around Bangalore which was also declared as one of the Software Technology Parks of India(STPI) and widely known as electronic city of India having highest real estate property development in India. To highlight most of the public in the world at large had every knowledge of INFOSYS which was established and originated from the city of Bangalore contributing significant growth to Indian economy, increased standard of living, employment generation, significant contribution to foreign exchange reserves either directly or indirectly.

Bangalore is also known as IT CAPITAL OF INDIA and SILICON VALLEY OF INDIA being home to more than 7 million people coupled with a population density of 3000 persons per square kilometer having literacy rate of around 84 per cent and exponential growth of people who are showing interest to make Bangalore as their home place being the fifth largest city in India where kannada, hindi, English, tamil and telugu are widely spoken and understood. In simple Bangalore is a home to more than 300 high tech companies including home grown giants like WIPRO and INFOSYS. Apart from IT Bangalore is a host of other industries as well. That is say and highlight, Bangalore is emerging as a global aerospace engineering hub. To support this claim, the under mentioned facts are highlighted

• SPIRIT AERO SYSTEMS, the world's largest independent supplier of structures for commercial aircraft teamed up with INFOSYS TECHNOLOGIES to set up an engineering centre at the INFOSYS campus in Bangalore.

• The hi-tech aerospace project for INFOSYS, coupled with other global engineering projects in airline industry, is turning Bangalore and India into an engineering hub as well.

• The Indian Institute of Science, India's most prestigious science research institute, joined hands with Boeing, the leading American manufacturer of satellites, commercial jetliners and military aircraft, to work on many unique projects to build the next generation flights.

All the above said facts are contributing exponential growth of real estate development in the city of Bangalore wherein major developers and MNCs are looking for alternatives in India are concentrating in the burgeoning development of the city that is in commercial and residential spaces being well absorbed and such absorbing capacity of commercial and residential spaces is growing exponentially. Major and popular developers who had concentrated in the city of Bangalore are

• Classic Estate: floated in the year 1995 under the name Nishargadhama Estates developed in 100 acres of prime land ideally located in the outskirts of Bangalore about 16 kms from M G Road, on Bannerghatta Road. Mostly involved in the residential layouts and commercial complexes

• Ferns Builders and Developers Ltd.: Since 1988, this concern has been transforming Bangalore with her international styled apartments, villas, farm houses, condominiums and residential plots with international in its outlook, cosmopolitan in its attitude and quality consciousness in its approach coupled with combination of prime location, aesthetic appeal, functional design, optimum use of space and excellence of construction expertise with an affordable prices.

• Renaissance Holdings : Incorporated in 1994 and having successfully completed several landmark projects, Renaissance has established itself as one of Bangalore's largest property developers and construction companies specializing in building quality apartments as well as state-of-the-art commercial spaces. Being an ISO company, quality pervades all their operations. Superior exterior finishes, well planned and airy interiors and aesthetic surroundings help in constantly increasing the value of residences and make them easier to maintain in the long run.

• Gopalan Enterprises: Gopalan Enterprises was founded in 1984 by C Gopalan an architect with an objective of developing residential and commercial projects in building spaces of high value to customers that makes a difference, aesthetically and functionally adding to the quality of environment. Some of the completed projects are

1. Nanda Gokula (Sankey Road)

2. Shabari (Indiranagar)

3. Swathi (Indiranagar)

4. Dwaraka (Indiranagar)

5. Park View (Indiranagar)

6. Lake Side Residency (Near Ulsoor Lake)

7. Lake Palazzo (Near Ulsoor Lake)

8. Gangothri (Near Ulsoor Lake)

9. East End Apartments (Frazer Town)

10. Richmond Palazzo (Richmond Road)

11. Royal Terrace (HAL 3rd Stage)

12. Royal Castle (off Airport Road)

13. Wilson Manor (Wilson Garden)

• Purvanakara Projects Ltd : This group established in 1975 has experience of more than three decades in construction expertise with completed and ongoing projects measuring 15 million sq ft in the geographies of Bangalore, Mumbai, Cochin, Chennai, Hyderabad, Mysore, Coimbatore, and overseas in UAE

• Ranka Group: This group is one of the trustworthy developers in the city of Bangalore with lasting values that create valued constructions along with a guide to Bangalore real estate development carefully developed to assist customer in his/her endeavor aspiring to have his/her dream home in the city of Bangalore

• Shriram Properties: Residential property developers extending inspiration for living to many customers in the city of Bangalore. This is a southern business group conglomerate. Shriram Properties Ltd. was launched in 1995 in Bangalore and in a short span of 11 years, the Rs.450 crore Shriram Properties is a formidable force in the real estate market in South India, with over 2.5 million Sq.ft.of land holdings & numerous housing property ventures.

Global events have a greater impact on Indian market and return on real estates in India is believed to be reasonably stable and predictable being highest in the world and in particular the same is considered quite high in the garden city of India. Expected yield on the investment of real estates in the city of Bangalore is considered to be not less than 25 per cent per annum. Government approval for 100 per cent foreign direct investment (FDI) in integrated townships is giving rise to suburban townships around the city of Bangalore with highest residential apartments absorption.