Mangalore is an arch port city in the state of Karnataka. Being referred as “The cradle of banking industry” Mangalore reflects the beauty of rolling hills, coconut palms, freshwater streams and red clay tiled roof buildings.
The climate of this city is also conducive for human inhabitation and pleasant as well. Moreover, numerous tourist places are in close proximity to this city which makes it the most-sought-after-city in the State of Karnataka. Places like the Sultan Battery, Kadri Manjunath Temple, St. Aloysius Church, Shri Sharavu Mahaganapthi Temple, Light House hill garden and other tourist attractions invite a large number of visitors every day.
Change has touched the city and now it has become one of the fastest growing Indian cities in terms of real estate development. Now Mangalore houses major companies like Infosys, ONGC, MRPL, MCF, BASF, KIOCL, Suzlon, Nagarjuna Power and the GMR group. The development of the IT sector has taken the infrastructure and real estate of this city to greater heights.
Not only the industries but also the infrastructure is amongst the important foreplayers of the realty development. Mangalore is well connected via air, water and land. Agricultural processing and port related activities are predominant here. Mangalore handles large percentage of coffee and cashew nuts exports. Major IT companies like Infosys and Wipro too have laid their foundation in this city. The ONGC plans to invest over Rs. 35000 crore in a new refinery, petrochemical plant and power as well as LNG plants at the Mangalore special economic zones. Several highways like NH-66, NH-48 and NH-13 connects the city to major places like panvel, Bangalore and Solapur. Due to the frequent economic activities and excessive urbanization, Mangalore has become a high growth centre and a fastest growing non-metro in south India. However residential areas are quite peaceful to live as well as neat and clean as Mangalore is one of the cleanest cities in India.
As developers are making huge investments in the real estate of this city, the prices of property has marked a new high. Newer residential and commercial projects have been launched by the Builders who are on the lookout better investment opportunities in this city. Some of the prime locations in this coty include Airport road, Padil,Valenica, Falnir, Bajpe, Lalbagh, Bejai, Kadri, Kuttar, Ashok Nagar, Kodialbail, Padubidri, Konaje and many more. These are some of the realty hotspots which have seen tremendous growth with respect to real estate development in Mangalore. The property prices have shot up by almost 30% in and around these areas. This is due to the increasing demand for residential and commercial spaces. From 1bhk,2hk,3bhk flats, villas, penthouses to office spaces and showrooms, demand for multifarious property type is also on the rising end. Moreover plots and other land types have been acquired for residential and commercial constructions to equate the increasing demand.
The concept of integrated townships is fast picking up pace in Mangalore. Real estate development in Mangalore assures of better Returns Over Investment (ROI) in the years to come.
Hello,
I appreciate your article, this seems to be best article i have found while searching about real estate in mangalore, as you said real estate in mangalore is good for everyone, but all types of work needs more effort.
Thank you
Regards,
Deepak Kotian