Mangalore – Where Beauty Meets Realty

Mangalore, the hometown of Aishwarya Rai, is a city which looks so beautiful that you will fall in love with it. It is a city of friendly people, homely atmosphere, and beautiful sea. If ever given a chance, you might just want to live there forever.
Mangalore, coastal city of Karnataka is about 300 km far from Bengaluru. The city is growing rapidly and in some time the city will mark its presence on the world map. According to the global real estate consultant Knight Frank, it is rated as the second fastest growing Indian city in terms of real estate boom.
Real estate prices in the city have reached an unimaginable height in the past six months, thanks to various realtors who have shown keen interest in the realty development of the place. The coming of information technology units has contributed majorly to the city's rapid development.
In fact, real estate investors targeted Mangalore rather late. These investors first explored the investment options in Bengaluru, and then they moved on to Mysore.
As Bengaluru has reached a saturation point, undoubtingly the next destination has to be Mangalore. The up gradation of the Bajpai Airport to an international one is one of the main reasons for investors to show their interest towards this city.
The renovation of the airport ensured that it is now well connected by land, water and air. Moreover, Mangalore boasts of availability of ample land unlike Bengaluru and Mysore, especially the outskirts of Mangalore, which draws IT giants as well as other investors.
Mangalore is one of the eight tier-III and tier-IV cities in India that are emerging as the biggest growth centres, according to the Knight Frank report.
IT major, Infosys, has already set up a huge campus in the city. Various other IT majors, who keep on cribbing about the shortage of proper infrastructure in Bengaluru, are likely to shift operations into the city soon. This shift would mean that BPOs (business process outsourcing units) might also come up in Mangalore which might lead to further development.

Besides IT and BPOs, another sector which would play a major role in the overall development of Mangalore would be Special Economic Zones. Infosys has set up a 300-acre facility at the IT SEZ in Konaje. Biggies like Satyam and Wipro will soon be setting up base at a 200-acre campus in Ganjimutt where an export promotion park has already been developed.
Located at only 357 kilometers west of the IT hub of India, Bengaluru, the city is a preferred choice of people buying or interested in buying properties in Bangalore owing to its proximity to Bangalore and the pleasures of a hassle-free and serene city life.

The city is inviting realtors to develop mammoth residential and commercial projects that can very easily catalyze the growth in Mangalore real estate. These include three IT parks at Ganjimutt, Thumbe and near Mangalore University which are in pipeline. Each IT park will be spread over an area of 2-million square feet.

One of the top league builders in Karnataka and creators of luxury homes, Skyline Constructions and Housing Pvt. Ltd., have already launched the most-awaited ‘Blueberry Hills’ project in Mangalore. The realtor is keen to invest over Rs. 200 crore across different segments, for developing property in Mangalore.
Besides residential projects, there is also a growing demand for service apartments in Mangalore, as it has become a popular tourist destination for both professionals and tourists. Professionals working in software or other different companies here are renting or buying properties in different locations. What works for the city is its relaxed and serene living along with working persons, landholders and senior citizens. The city offers a huge choice of homes, villas, apartments and bungalows.

Mangalore is being seen as the next most prominent destination for IT and IT enabled Services (ITeS) companies.

Local real estate developers and dealers are flooded with several enquiries for office spaces by big companies from the Business Process Outsourcing (BPO) and ITeS segment.

Prices of both residential and commercial properties in Mangalore are untouched by speculation. Only a modest 10-25 per cent hike has been recorded in the property prices in the past 12 months.

Besides commercial and residential property, retail space in Mangalore is also hugely in demand and retailers are very closely eyeing availability of any space.

Sukhpreet Kaur writes on behalf of 99acres.com ,which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry.It is a forum where buyers, sellers and brokers can exchange information. At 99 acres, you can advertise a property,search for a property, browse through Mangalore Real Estate and Properties.