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Investors Welcome to the Knowledge City - Bangalore
Saturday, February 25, 2006
Knowledge Capital and Best Software Destination
Bangalore famously known as the Garden City of India is also the fastest growing city in Asia and is christened as 'India's Silicon Valley'. This capital city of the state of Karnataka is home to over 6 million people and is the fifth largest city in India situated half way between the coasts in Southern India. Known for its peaceful and cosmopolitan ambience, the city of Bangalore is more famously acknowledged as the knowledge capital and best software destination in the country. With IT professionals making a beeline for the most covetable jobs in the sector, Bangalore is fast developing as the favorite destination for property seekers.
Real Estate In Bangalore
The real estate sector in Bangalore is also the booming sector in the economy of the state of Karnataka. With the induction of additional workforce in the IT sector and BPOs, it has become imperative to meet the demands of the working and executive class, as they seek better property avenues in the area. People are interested in possessing a home in the Silicon Valley of India citing the growth in the real estate Bangalore, where buying a home is lot easier with housing loan in India getting cheaper and easily accessible. But the government of Karnataka really needs to boost up the infrastructure to meet the demands with supply. During the 90's, Bangalore saw lot of activities in Real Estate Market because of the entry of property developers from outside the State. But the hype in the business could not be met as real estate market began to take a downward trend mainly because of the failure on the part of govt. & state administration to provide and maintain the bare minimum infrastructure like Power, Roads, Sewerage, Water and Transport.
Major Information Technology Destination In India
Bangalore has also earned its fame as the knowledge capital and best software destination in the country with the best educational institutions and technology centers present there. Such is the ratio of its education to job market that an individual graduating from an institute can easily be absorbed in the city circuit for the best possible profession available. And speaking of Bangalore is incomplete without the ‘’Technology Giant of India’ – Infosys. Apart from being hugely responsible for its technological contribution, it is one of the most respected software companies making its presence felt in the global market. Besides Infosys, some of the most well-known IT companies of India, like Satyam, TCS and Wipro have made Bangalore their corporate address. All this factors are hugely responsible for the real estate upsurge in the ‘Knowledge City’ - Bangalore.
When it comes to investing in commercial property India, Bangalore features right among the top favorite destinations. With more and more MNCs coming to Bangalore and the adjoining suburbs, investment in Bangalore is always going to reap benefits in the long run.
Visakhapatnam predominantly a recognized port and steel plant has in the recent times evolved into a city with varied infrastructural developments in the IT and knowledge sector, Pharmaceuticals, construction, marine infrastructure, steel and chemicals. With large-scale investments in the IT, ITES and the BPO sector there has been a great demand for international standards of office spaces; as Visakhapatnam gears up to promote itself as the best industrial and knowledge destination of India. With over 14 IT companies investing in the city, the government is expecting a rise in growth of IT & ITES exports from Rs 70 crore in 2004- to Rs 1,000 crore by 2009. While technology giants like Wipro and TCS are planning to set up expansion center in the city, Satyam Computers has already laid the foundation for a technology centre.
Vizag among many other cities in India has been a chosen city for investments pertaining to its strategic positioning, good connectivity to major cities and infrastructural facilities like roads, building structures and basic amenities. While HPCL (Hindustan Petroleum Corp. Ltd) plans its next refinery in Vizag, HSBC has initiated to build a call centre facility here. However, the best revenue generated is from the real estate sector, both residential and commercial. As top developers engage themselves in providing state-of-the-art built in office spaces there has also been a remarkable escalation in residential property prices in the city owing to the inflow of a