Mangalore, locally called as Kudla is a significant port city in the state of Karnataka. It has been a major port in the Arabian Sea for a long time. Today it is a bustling, vibrant city with an active workforce, excellent infrastructure, agile development and is marked as a great real estate investment opportunity.
In recent years, Mangalore is witnessing quite a buzz in terms of real estate development. Many quality-oriented developers in Mangalore are developing amazing residential projects in the coastal city.
What is an excellent real Estate Investment?
You can term your investment in real estate as enjoyable and profitable if it grows in terms of capital over some time. The criteria are the time factor too. The earlier it grows, the better the investment is. It could also be termed as an investment on a property that fetches a high rental income to the investor.
Usually, experts consider an excellent real estate destination to be the location that is not only currently growing but also has the potential to grow over the years. Some parameters to be considered in this regard are its geographical location, population, infrastructure, job opportunities, and a couple of other relevant factors that are regarded as an excellent real estate investment destination. Mangalore, according to experts, is seeing this trend and can be termed as one such high growth real estate investment opportunity in India.
To bring more clarity on the reasons that have made Mangalore as one of the top destinations in India for residential projects, we list a few defining factors.
Everybody knows that before we invest in any residential property, the location needs to be considered as the top priority. Mangalore has the advantage of being a major buzzing port of the country. Naturally, it has seen large business and trading activities. This has attracted a lot of people to settle down in this blissful city. Essentially the residential apartments demand here is organic and perennial. This factor is a determining factor for real estate growth of residential projects in any place in the world.
Mangalore is the largest and most developed city in the Dakshina Kannada district. Since the town has a multi-cultured hub, it makes it an appealing aspect of the town. Since different cultures of people mix and stay in the same locality, there is enormous potential for that area to grow drastically owing to the diversity of the population. The influence of multiple cultures, languages, religions, skills, and demographics make the social structure of the city very strong. In such an atmosphere, growth is inevitable. This core strength of Mangalore has given birth to various industries, new jobs, businesses, and opportunities. Mangalore has a tropical monsoon climate and falls under the region of southwest monsoon. Hence it is ideal for people searching for residential flats in Mangalore.
Mangalore is a treasure trove of natural resources. The economy is driven by industrial, commercial, agricultural, and also the port activities. The New Mangalore Port is the country’s eighth-biggest port. Mangalore is the land where the country’s significant coffee exports and cashew nuts exports happen. Import of high demand products such as crude oil and LPG is through Mangalore ports. This is a substantial contributing factor that has drawn global companies and financial investments. This has, in turn, led to the development of good residential flats in Mangalore.
Strong Industrial sector
To name a few, BASF, Mangalore Refinery and Petrochemicals Ltd, Mangalore Chemicals and Fertilizers Ltd, Kudremukh Iron Ore Company Ltd, HPCL, BPCL, Total Oil India Limited are among the big industries established in Mangalore.
Mangalore Special Economic Zone Limited is India’s multi-product SEZs with an investment of over $2 billion. MSEZ is now the favored manufacturing destination in India.
Mangalore has also seen steady growth in the IT companies, financial companies, and other corporates that have put up their base in this fast-growing city. One of the factors that could be attributed to this is Mangalore’s booming economy and a skilled, highly educated workforce.
Some of the well-known companies such as Infosys, Cognizant Technology, Endurance, Mphasis BPO are operating in Mangalore. This promising city has two huge IT parks called Export Promotion Industrial park (EPIP).
A recent survey shows that the residential projects in Mangalore have been receiving huge investments from Non-Resident Indians who consider Mangalore as a safer investment opportunity.
Marian Infrastructures has made its presence felt in the district in a relatively short period by building elite residential projects in prime locations of Mangalore.
Since the inception to the present, over 580 Happy Homes from 16 Projects have been delivered by the company. Marian is now a leading infrastructure development company. Marian properties come with world-class amenities and are now one of the preferred residential flats in Mangalore.
According to recent reports, Mangalore ranks 11th in the list for healthcare. The survey conducted also states that it is way beyond major developed cities. It could be attributed to the fact that Mangalore has India’s best medical facilities, colleges, and hospitals. Mangalore also boasts of expert healthcare professionals, highly advanced medical technology, and health infrastructure. This is an essential factor that is also helping propel its medical tourism. More and more people are looking out for a residential property in Mangalore.
Property development in Mangalore suburbs
Mangalore is expanding. Due to increasing infrastructure and connectivity, many residential properties have emerged in the suburbs of Mangalore. In the past few years, these suburban areas are rapidly growing mainly due to the planned residential property developmental activities and infrastructure development taking place in these areas. A large number of investors from across the country and outside have found these areas as highly lucrative. Hence these residential properties in Mangalore are attracting lots of investment.
High Living Standards and Quality of Life
The definition of a high quality of life is the right work-life balance. It also includes access to affordable and quality healthcare, education, and infrastructure, and excellent job opportunities. Taking into consideration all these factors, Mangalore has a high quality of life. This is one of the main reasons for the high demand for residential flats in Mangalore.
Affordable Property Prices
Compared to other metropolitan cities such as Mumbai or New Delhi, Mangalore has always been a better option for investors. Residential flats in Mangalore offers an affordable range of investment with a high return on investment. Compared to the initial amount required for financing, the gains have always exceeded expectations in Mangalore. Another promising factor is that the residential projects sector in Mangalore has always remained stable in the last few decades. There has been a considerable gap seen in the real estate sector in Mangalore with demand exceeding supply. Thankfully, many big residential property builders in Mangalore are fulfilling this gap.
The Price Escalation factor
Properties in newly developed areas have higher chances of price escalation. There is a massive demand for property in these suburbs of Mangalore due to the recent growth. Another factor that has attracted a considerable number of investors is the fact that you can book your property with token money. You can then pay the balance amount before possession. The best part is you can sell this property after completion as the price would have escalated. This is another factor why investing in residential properties is increasing in Mangalore.
Marian residential flats in Mangalore have gained immense popularity among people craving for elite and luxurious apartments in Mangalore.