Believe it or not! The real estate rates in Bangalore are sky rocketing new heights due to inclusion of Information Technology (IT) in the city. The IT sector is the prima facia for all these undue soaring prices. Of course, there are other factors also that have contributed to these high prices.
Things would change in near future in Bangalore. Bangalore is surrounded by huge underdeveloped agricultural or barren lands. The Government is shifting its focus to such other areas of Bangalore keeping in view the increasing population and congestion in the city. This would be a real good idea to move some of its population to other new proposed areas of the city. The ex-government in Bangalore in the month of October 2007 had passed a tender to DLF in favor of the proposed "Knowledge City". The concept of “Walk-to-Work” is a big theme behind this city. The proposed city is planning to come up in Bidadi area, which is around 35 kms away from the city. This area comes under Ramanagar district and comes under ex-Chief Minister’s constituency. The other good move by the government was to come up with the new International Airport at Devanhalli. The lease at HAL land for the existing airport is about to lapse. Like Hyderabad, people are buying land in these two areas like anything seeing the growth trend in Hyderabad.
These two ventures in Bangalore would change the face of the Bangalore in near future. Keep watching this space for more details about the progress here in Bangalore.:-)
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