Bangalore tops the list of the capital appreciation of residential properties
Bangalore has developed as the IT (Information Technology) hub of the nation in the last decade. This has resulted in the price hike of the residential and commercial properties in the city. The major MNCs like GE, IBM, Accenture, Capgemini, J.P Morgan to name a few have their IT and services centers in the city.
The Indian players like Infosys, Wipro, TCS, HCL etc. also have made the city their major location for R & D and delivery centers. All these have created jobs and the youth from all across the country have come and settled down here. They have bought properties in the city and the great weather and the inviting culture of the city has compelled them to make this their home.
This has resulted in the property prices to skyrocket. For long, Mumbai and Delhi-NCR have always given property buyers the best capital value appreciation. However after the downturn years, it is the IT-led cities of Bangalore and Pune that have surged ahead in capital appreciation in residential properties.
International property consultants Cushman & Wakefield have come up with a data which shows that Bangalore clocked the highest average capital appreciation in the mid-income housing segment. This is at 41% between the first six months of 2011 and the corresponding period this year.
Source- The Times of India
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