| Bangalore, India Bangalore and its Commercial Real Estate Marker are unique in many respects. Did You Know… · Bangalore, also known as Bengaluru, is the capital of the Indian state of Karnataka. It has a population of about 5 million and a metropolitan population of 6.5 million, making it India’s third largest city and fifth-largest metropolitan area. · The city is one of India's fastest growing markets and the third-largest hub for high net worth individuals after Mumbai and Delhi. Its per capita income of US$ 6,460 is the highest for any Indian city.
· It is home to an impressive array of colleges and research institutions, which explains the second-highest literacy rate amongst the surrounding metropolitan cities in India. · Bangalore is referred to as the “Silicon Valley of India” because of the large number of IT companies in the city, which contributes approximately 38% of India’s US$22 billion IT and software export market. · Biotechnology is an expanding industry in the city. The city of Bangalore accounts for 47% of the 265 biotech companies in India. · The Bangalore Stock Exchange is the largest in South India. It was founded in 1963 and has 595 regional and non-regional companies listed.
· Several projects are under construction with the intention to solve some of the problems created by the rapid economic growth. An intra-city rapid rail transport system is expected to be operational by 2011.
· The commercial real estate market in Bangalore remains strong. Demand in the CBD is driven by financial institutions and corporate houses, while the IT/ITES sector dominates the SBD. Around 6 million of square feet of office space are currently under various stages of construction in the CBD and the SBD. · It is estimated that annual rental values in the CBD will increase, while those in the SBD will stabilize. The retail commercial sector is also expected to follow a similar growth trend due to Bangalore’s highly paid IT/ITES workers. For more information about commercial real estate in Austin or across the world, contact Don Cox Company at 512.478.1711 or our website at www.doncox.com. |
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