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Bengaluru Most Affordable Tech City

Bengaluru-affordable-tech-city

A couple of surveys on super cities done by international property consultants Knight Frank,led them to name Delhi, Mumbai and Bengaluru as earners of maximum yields across 34 cities globally .Check out their report here – Knight Frank

Topping the list was Namma Bengaluru that earned the highest prime office yield with 10% yield, followed by Delhi with 9.20% and then Mumbai with 8.50%.The Indian cities left prime markets like Bangkok (7%) and Kuala Lumpur (6.5%) behind.Considering how the market is and recent demonetisation looks like we are fairly doing well in some aspects.

In another segment called ‘What USD 100 million could buy?’, Delhi was named as the most expensive market in India. For this whopping amount, one could buy 1,56,304 ft in the capital city, while the same amount would fetch 1,63,032 sq ft in Mumbai. In both cities, one could buy far less than what they would be able to purchase in Bengaluru – that is 5,12,385 sq ft. And most would agree Bengaluru is much preferable as we can see from the rapid urbanisation and the spurge of growth in the last decade and based on stastics we will still grow.

These estimates are a far cry from what one would be able to possess with the same amount in cities like Tokyo and Kuala Lumpur, but nonetheless we have potential as a country to emerge as developed nation and put these cities to shame as well.

Bengaluru was also named as the most affordable tech district amongst 29 tech hubs from around the world. One would be able to acquire one sq ft for 9.65 USD.
Gurugram’s Cyber Hub was listed a few slots above Bengaluru at 25. One sq ft would cost a customer 20.40 USD. The most expensive was Shoreditch in London that would cost a whopping 90.75 USD per sq ft.

Another survey showed that Mumbai is likely to see a growth of 1.8% in prime office office rents in the upper floors of skyscrapers in the city. While Mumbai is likely to see this hike, London, Tokyo, Dubai would not see any growth at all and Kuala Lumpur would see a negative growth.

Bengaluru was also featured in the list of the most valued destination on the Employment and Property Cost index. The total cost of employing 100 people, calculated over workspace and average salaries, in Bengaluru was 1,264,000 USD or over Rs 8 crore.The list also includes Cape Town, London, Hong Kong and is topped by Zurich with 7,947,260 USD or more than 50 crore.

Mumbai and Bengaluru also featured in the top 10 cities in terms of projected eating-out expenses between 2017 and 2027. Bengaluru tops the list with 176.9%, while Mumbai came in second with 136%. Sydney came in last with 19.6%.

Considering the bigger picture I would say that we are doing well as a nation, and even though we still have a long way to go small growths like these would eventually put us on top of the global market and potential investors would come rushing in therby also creating a huge job market and oppertunity for prospective job seekers.We still need to work a lot on our infrastructure and city development including drainage ,sewers and roads, I hope our government will make of this oppertunity to improve the cities.Only time will tell.

Source :http://www.businesstoday.in

Pic Courtsey: Manyata Tech Park

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