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Mangalore real estate market has primarily gained from the saturation of nearby IT hubs of India namely Bangalore, Hyderabad, Chennai. Thus, the IT & ITES industry is turning their prospective property sites to Mangalore. The city has been a major recipient of FDI in the real estate sector to cash in the upcoming Mangalore real estate boom. To keep at par with the gravid property developments in the city, Mangalore development authority is working on providing the adequate infrastructure facilities.
The basic difference in Operational costs for the corporates and various industries in the city is far less as compared to neighboring Tier I cities, Mangalore property market is flourishing with these companies shifting their radar to Mangalore. Even the property rates and property prices in Mangalore are extremely affordable when even remotely compared with Bangalore properties . Mangalore will soon become home to various IT & ITES, BPO, MNC giants and experience an unparalleled real estate boom. This has prompted record property investments in Mangalore in both residential and commercial properties.
Mangalore houses some of the prime educational institutions in India and with the upcoming IT parks at Ganjmutt, Thumbe and Mangalore University area and ONGC petrochemical plant and oil refinery, even rental properties in Mangalore will register a throbbing demand. To cater to the demands of residential property in Mangalore, the housing companies in Mangalore are developing housing projects in Gandhi Nagar, Falnir and Kodialbali. The biggest contributing fact to the upcoming real estate market of Mangalore would still remain the real estate boom in extended Bangalore city with people looking for peaceful alternatives to the bustling city life of Bangalore. | |
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