Neither Delhi nor Mumbai, Bengaluru’s top destination for real estate investments.
Bengaluru, India | Red Newswire | Source: BI India Bureau | Nov 11, 2015 12:46 AM IST.
Bengaluru, which is known as the startup hub of India, is now also the best destination for real estate investment in India.
From 2013 to mid 2015, the IT hub saw investment of around 13% of over Rs 44,450 crore from PEs.
As per the global property consultancy Jones Lang LaSalle’s (JLL) latest Asia-Pacific City Investment Intensity Index, Bengaluru was among the top-20 destinations globally.
New Delhi was at 34th and Mumbai at 42nd spot.
A JLL report stated that despite being a smaller city than the political and financial capitals of India, it has managed to attract a lot of investment in comparison of its size.
“Real estate investment is generally difficult for foreigners in India, and investors looking to take part in market growth may need to go through routes such as debt deals and joint ventures with local partners. The index advises investors to continue to seek core business park or office investments in Bengaluru,” said Anuj Puri, chairman and country head at JLL India.
Foreign investors showed interest in leased office assets like IT parks and IT-SEZs.
Many firms have invested over Rs 100 crore at the Electronic City in Bengaluru.
Industry experts point out that the residential and commercial markets in Bengaluru were more vibrant and mature than any other Indian city.
Meanwhile, the top five cities in the Asia-Pacific region are Tokyo, Singapore, Seoul, Sydney and Hong Kong.