Reasons for Bengaluru’s prosperity

Bengaluru is a blessed city with all infrastructures, both physical and social and with the concentration of all the startup and the giants of IT and ITeS companies of India and abroad. There are gaps in all the housing segments namely the High Income Group, Middle Income Group and the Low Income Group housing. In one word there is ample prosperity in Bengaluru with generation of jobs and increase of wealth in all sectors. It is a preferred destination for the NRIs and the wealthy people and also the expatriates. One estimate shows that Bengaluru is the house of more than 1000 Dollar millionaires, the number of which is increasing. 

The localities are well planned with immaculate and good looking houses with good roads and well maintained parks. The government works in tandem with the private sector to provide jobs and create a climate for the migration of the industries. This has led to extra job generation in the city and has been the Mecca of the job seekers. The housing sector also got the benefit of such high migration of young population which is increasing in leaps and bounds. The housing demand is more than the supply.

With all these development and prosperity in the fray the question lies what went right for Bengaluru. We brief below few points which has added gusto to the spree of multi directional development in the city.

Favourable condition and job generation: 

Bengaluru contributes to 28 percent of the total start-ups in India. Such ventures employ highly skilled man-power and enhance the job generation potential of the place and this directly affects the housing sector in a positive way.
The estimates of different agencies and survey organizations predict there will be 11,500 start ups employing more than 2 lakhs of skilled manpower and thus helping Bengaluru to eke out a name as a major job generating and start up destination. 
Market friendly housing options:

Unlike the cities like Mumbai and Delhi where the prices of property are rocketing higher up, Bengaluru realty prices are still affordable by the middle class buyers with a low or modest budget. The data points out that although there is an increased demand for the High Income Group housing the city offers housing for all classes of people. There is an increased demand for the housing in the range of Rs. 60 lakhs to Rs. 1 crore but the range of apartments mostly supplied are in Rs. 40 to Rs. 60 lakhs.  

Proper policies for management of Solid Waste 

Bruhat Bengaluru Mahanagar Palike notified the residents to manage the solid and dry waste as per a recent notification.
Bengaluru is one step ahead to declare to the residents to make a profit by selling their solid and dry wastes to the dry waste collection centres as a measure towards building Swacch Bharat Mission. This is yet to be adopted in the other cities.

Bengaluru considered as the IT capital of India is taken as tech-savvy and to add fervor to the city’s grace the government of Karnataka along with few private sectors like CISCO announced its plans to develop a smart city in the Electronic City of Bengaluru. The city would have smart CCTV surveillance, smart parking, smart water and waste management, smart street lighting and community messaging.

An initiative for Radial Development: 

Bengaluru’s development is symmetrical and is not concentrated in one area. The growth of companies along with the infrastructure is radial in structure with attention to all the places. On the South, Sarjapur Road, Devanahalli in the North, and Whitefield in the East are all developing with equal spree. The western side is the place for the smart city to come up for the available land parcels. Apart from this the Outer Ring Road is where there is availability of land and is developing at a faster pace which encircles the city. Thus the development is spread across the city which is helping the growth in a balanced manner. 

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