Is Bangalore still qualifies for
a hill station climate at 3000 feet altitude?
How does rising temperature in
Bengaluru influence the real estate market in and around?
Keen to know? Then read along.
Real Estate & Economy of Bangalore
Bangalore is also known as
Bengaluru, a bustling city with an estimated metropolitan population of over 1.2
crore in 2020. Between 2016 and 2019, the population grew on an average at 3.95%.
According to a popular analytics website, the population in Bengaluru is expected
to steadily grow until at least 2037.
Often referred to as the Information
Technology (IT) capital of India and the Silicon Valley of India, Bengaluru
started on its growth journey back in the 1990s. Owing to the boom of IT
companies that offered IT export services, Bengaluru attracted thousands of
settlers. Being highly accessible from cities across India and cosmopolitan
culture, migration to Bengaluru was seen as a lucrative option by young adults.
This led to rapid urbanisation of the city and it emerged as India’s 3rd
largest city in terms of population (per 2011 census).
In terms of real estate, an
online business magazine reports that Bengaluru has always been an active market
for both residential and commercial working spaces. It says that the aspirational
millennial have their specific preferences with respect to Homes and work
spaces. The rise in demand for affordable housing (< Rs. 40 lacs), trended
in Bengaluru real estate,
in 2018.In 2020, even in the course of the pandemic, Bengaluru saw a 3% yoy rise
in prices. One factor that could be attributed was that the demand for larger
houses spiked due to the need of a dedicated working space which has been supported
by the ever growing “Economy of Bangalore”
Bangalore Climate Transformation
Is all well with Bengaluru?
The answer is no.
The city’s growth has been a
double-edged sword. Going back in time, in 1970 the city’s green cover was 68%.
The Garden city so called now, was indeed one with several lakes and a vast
expanse of trees and greenery. Post the influx of migrants since the 1990s,
Bengaluru struggled with many problems. The major ones being vehicular traffic,
poor air quality and water scarcity. In the last 40 years, Bengaluru had its
green cover reduce by 89%, and water bodies deplete by 79%. The ecological
imbalance meant rising temperature. There are several reports of drastic
temperature changes in Bengaluru.
As recent as January 2020, Bengaluru
recorded a temperature of 33.4, the highest in the last twenty years. This
means Bengaluru no longer holds its advantage of having a pleasant climate.
Bangalore real estate not alone grown but the
summer temperature there too!
This has also affected the
tourism in Bangalore and the need of home stay in Bangalore recent days!!
Why Bangalore people invest on
Ooty Real Estate
In fact, Bangalore people who are
nostalgic about the cool weather and greenery of Bengaluru are moving out of
the city or, are investing in a holiday home away from the city. Where could
one possibly find a solution?
At Ooty where else!
The Ooty real estate market is flourishing and investment
is flowing from Bangalore into Ooty not only for the above-mentioned reason.
· Ooty is one of the nearest hill station to Bangalore located at a distance of 270 km from Bengaluru is ideal for who wants to buy a Farm House for sale in Ooty, to rejuvenate and spend weekends - - Just 4 hrs drive by road.
· Cost of Ooty property or land is many folds cheaper than Bangalore real estate price.
· Ooty realty ROI is not volatile and evergreen comparing to Bangalore realty.
· Ooty is scenically beautiful, has an avg. annual temperature of 14.4°C and Bangalore people enjoyed the chill climate always which they missed in Bangalore city nowadays and owning a second home in Ooty becoming essential for them rather than luxury to manage the summer heat.
· Bangalore people love the party culture and Ooty is the best fit for them to enjoy the weekends.
· Owning a property in Ooty hill station is a social status to the Bangalore people.
The best property portal to buy
Ooty property
Are you interested to buy home in Ooty? Looking
for an expert to guide you to buy property in Ooty or to Buy agriculture land for sale in Ooty? Hills &
Wills can help you make the right choice. They have the hottest list of property for sale in Ooty.
Being the exclusive and the only real estate portal for hill stations in India,
they also have quality listings of land for sale in Ooty and the most preferred hill station real estate online
platform by Bangalore people.
Property in Ooty for investment
or vacation home or settlement differs and Hills & Wills being the hill
station expert knows the difference better than anyone else!
