According to Knight
Frank’s 11th edition of The Wealth Report 2017, Bengaluru is among
the top seven hotspots around the world that present exciting opportunities for
private property investors in 2017 and beyond.
In another survey - Jones Lang
LaSalle's fourth annual City Momentum Index of cities around the world –
Bengaluru is placed right at the top of
the World’s Most Dynamic Cities, beating out the likes of Shanghai, London,
Dubai, New York and even Silicon Valley in the US. This index tracks the speed of change of a
city's economy and commercial real estate market. It covers 134 major
established and emerging business hubs and identifies cities that have the
potential to maintain the greatest dynamism over the short and long term.
According to Jones Lang LaSalle, "Most dynamic cities share the ability to embrace
technological change, absorb rapid population growth and strengthen global
connectivity.”
The Passport Cities Database projects
that Bengaluru will be one of the three Indian cities to record the fastest
rate of real GDP growth over 2016-2030, making the future of the former ‘Garden
City’ look very rosy indeed.
With an eye on the future, House OfHiranandani has already been steadily developing a diversified portfolio of
properties in Bengaluru. In case you haven’t seen them yet, have a look at
these impressive video vignettes of the well planned developments in Devanahalli, Hebbal and Bannerghatta. Also, this
video explains why we continue to push for
growth in South India.
Bengaluru’s success can be attributed
to three major factors:
One, known as the ‘Silicon Valley Of
India’, it has attracted some of the brightest and most ambitious scientific
and technological minds from around the world.
Two, government involvement seems to
have worked to Bengaluru’s advantage. Here, the government has, over time,
promoted investments in the city and developed a positive relationship with
business and industry. There are a number of government initiatives that are
bound to further enhance Bengaluru’s reputation as a city with an eye on
infrastructure development: the proposed Mumbai-Bengaluru Industrial Corridor,
the under-development NICE expressway that will connect the city to Karnataka
and Mysore, and the expansion of the Namma Metro system.
Thirdly, Bengaluru, with its high
standard of living and ease of doing business, has been steadily attracting
some of India’s wealthiest individuals. According to ET Realty, “the city has 220 Ultra High Net Worth individuals, a
number which has grown by 15% in the last one year.”
Many decades ago, India’s first Prime
Minister Jawaharlal Nehru had predicted that the then-sleepy Garden City would
be India’s ‘City Of The Future’. Now, with Bengaluru being declared ‘The Most
Livable City in India’ in 2012 and with its most recent accolades, it would
seem like our esteemed late Prime Minister’s prediction might be truer than we
could have imagined.
