The booming IT, ITES and R&D sector of Bangalore has played a pivotal role in changing commercial real estate scenario of the city. With government promoting investments in the IT Corridor; the Suburban Business District (SBD) consisting of areas such as the Electronic city, Whitefield road, Hosur etc, have become prime locations for commercial ventures like Grade ‘A’ office spaces so also areas like Richmond road of the Central Business District (CBD).
With more foreign investments in the city and their Indian counterparts competing for the global look, there is a huge demand for the international state-of-the-art offices. And with top developers in the city settling down for the customized built-in spaces, the new projects are showing a growing trend of being booked even before the completion period.
The CBD and the SBD areas are expected to cater to 15-20% of the demand in the next couple of years. The adjoining ‘peripheral’ areas of Bangalore is seeing a trend of rising prices as the developers are targeting these areas with promises to allot quality spaces at reasonable prices.
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