Karnataka is one of the top states that contribute to the country’s GDP thanks to the IT sector, exports, mining and other industries located here. There are many cities interspersed through the state, each with its own importance and historical background. The top 10 cities of Karnataka and their real estate prospects have been discussed here.
Located 350kms to the west of Bangalore, Mangalore has been a prominent city since the times of the Bahamani Kingdom. The Portuguese had settled here for trading of spices and the trend continues. Mangalore is an important centre of spice trading, rice trading and even sandalwood. Together with Tuticorin, it forms an important port city of the state.
Mangalore is not only prominent when it comes to PSEs such as Oil and Natural Gas Company, Kudremukh Iron Ore Company Ltd. or KIOC and Mangalore Chemical and Fertilized Ltd but also private companies such as Infosys. Other private sector companies which have a presence in Mangalore include Cognizant Technology Solutions and Thomson Reuters. An Export Promotion Industrial Park (EPIP) has begun to be constructed at Ganjimutt while another IT SEZ has been planned for the area. A third IT SEZ has been planned around Mangalore University.
The area has a well-developed social infrastructure with many schools affiliated to ICSE and CBSE boards. The country’s first privately owned medical college Kasturba Medical College was started here. Many students move to the city to city or for hunting jobs. Compared to Bangalore, the cost of investment in the city is much lower. Moreover, you can enjoy sights of the beach in the city!
If you are looking for a second home for the purpose of holidaying, Chikmagalur is the best place to buy a home in. Located at the foothills of Mullayanagiri Range, it is known for its coffee plantations and is the coffee land of Karnataka. The National Highway 173 passes through this area as well.
One of the most prominent areas of the Chikkamagaluru is Malendu which is a hilly and forested one in the district. It receives a lot of rainfall and average temperatures are much equitable, with the mercury dipping to 11 C during the winter months.
Unlike many other hill stations of India, Chikmagalur is not as commercialized yet and you can expect to spend a nice and quiet weekend here with your family.
Officially known as Hubbali, Hubli is the second largest city in Karnataka after Bangalore. It is one of the fastest growing cities of Karnataka and is often termed as Chhota Mumbai. Agriculture is a flourishing occupation in the city which specialized in agrarian commodities such as peanuts and chili. It is a major stop on the south western Indian Railway network and it houses the headquarters of North Western Karnataka Road Transport Corporation.
Hubli is considered to be a commercial hub in Karnataka and has a number of industrial clusters. The Hubli-Dharwad Municipal Corporation takes care of the day to day activities of Hubli and Dharwad, two cities which are 20 kms apart.
There are quite a few software technological parks set up in Hubli along the Bangalore-Pune Road. The Aryabhatta Tech Park of Navanagar region has also attracted 7 IT-services and IT related companies. Some of the companies which are present in the region include Tata MarcoPolo, VRL Group, Trident Powercraft, Spicer India, Sankalp Semiconductor and Apex Auto. There are more than 1000 allied micro, small and medium enterprises in Gokul. From food products to steel furniture, everything is produced in these smaller companies.
These companies employ a lot of people which leads to the demand for 2 and 3BHK flats for residence. Earlier, more people lived in row houses but now they prefer to purchase apartments as they are more affordable and ready to move in.
The Garden City hardly needs any introduction anymore, especially since it has been a pioneering force in the IT revolution in the country. A sleepy town till the 1980s, the company burst onto the industrial scene of India in the 1990s when IT companies were invited to set up corporate offices. Earlier, central areas of the city such as Brigade Road, Cunningham Road, Richmond Road and Ulsoor Road were the locations of these companies.
However, with the betterment in the system of communication (construction of the Outer Ring Road and other important avenues) and availability of good infrastructure along the outskirts, these companies moved into larger campuses along the fringes of the city. Areas such as Whitefield, Marathahalli, Electronics City and HSR Layout developed into IT clusters. The central locations were taken up by law firms and other traditional companies. With the burgeoning demand for air travel, the Bangalore Airport was shifted out to Devanahalli which has led to the development of the northern localities of Bangalore as well such as Yelahanka. More people nowadays prefer to live by north Bangalore as it is close to the airport.
A salient feature about living in Bangalore is that the localities are mostly self-reliant thanks to the walk to work culture of the city. Employees of various companies prefer to stay in a neighbourhood close by so that they can walk to their work. Bangalore is quite famous for its traffic snarls, which is why everyone prefers staying in an apartment close to work.
Bangalore is much dominated by the culture of apartments with only a few areas such as Whitefield catering to demanders of villas. The most demanded configurations are 2 and 3 BHK flats which can house nuclear families. SalarpuriaSattva Group and the Prestige Group are two of the most prominent developers of the city. Even though prices of property in Bangalore are quite high, the possibility of appreciation in prices is also quite a bit.
Mysore is 146km from Bangalore and has immense historical importance. The Mysore Palace and Brindavan Gardens attract thousands of visitors every year and tourism is an important industry in the city. The city’s economy was founded on salt, lime, sandalwood carving and bronze work. Some of the older companies which gained prominence in the city were the Sri Krishnarajendra Mills and Mysore Sandalwood Oil Factory.
Mysore had been ranked the 5th best city in India for conducting business back in 2001 in a survey. To help Mysore along its trajectory of industrial development, 4 industrial areas around and in Mysore (Hebbal, Belagola, Hootagalli and Belawadi) had been developed by Karnataka Industrial Areas Development Board. Some of the companies based here are JK Tyres, Larsen & Toubro, Infosys, Wipro and Bharath Earth Movers.
The rapid growth of IT services in the state has made Mysore the 2nd largest software exporter of Karnataka, after Bangalore. One of Infosys’ major training centres is in the city and Wipro’s GSMC or Global Service Management Centre is located here. Many non-IT related services from other countries are outsourced to companies of Mysore.
The Hebbal Road connects Mysore with Bangalore and being an ancillary city of the state capital, it has a vibrant culture and industrial growth. A lot of people consider Mysore for a second home investment as property prices are quite reasonable.
Ballari or Bellary is located in Ballari district. The area has a rocky terrain where granite rocks make up most of the hilly landscape. The two hilly areas of Bellary are KumbaraGudda and BallariGudda. Granite quarrying is an important occupation in the city.
The Bellary Fort and ruins at Hampi 70kms away form an important sightseeing spot in the city. The Visvesvaraya Technological University and the VijayanagaraKrishnadevaraya Technological University have been formed in the city. It is home to several quality hospitals and health care centres apart from educational institutions.
Bellary is much sought after for the purpose of investment because land prices are quite low compared to Mysore or Bangalore. Moreover, it is possible to build an independent row house or bungalow given the moderate housing cost of the city.
Belgaum or Belagavi is located in North Karnataka and is along the Maharashtra-Goa border. It is a hub of production of automotive parts such as castings. A 300 acres SEZ has been planned in the city for production of precision engineering instruments along the Bangalore-Pune highway. It is the second largest city in Bangalore in terms of exports. Being rich in aluminium deposits, the city has a subsidiary of Hindalco.
Since 2010, Belgaum had has a fast development of real estate projects especially for housing needs. The Bella Vista in Nanawadi close to the cantonment came up in 2010 and is one of the earliest ones.
Bijapur is around 205kms from Belgaum and is one of the most historic cities of Karnataka, having been ruled by the Bahamani Kingdom for quite some time. There are several places of interest in the city including the GolGumbaz. A number of engineering colleges affiliated to Visvesvaraya Technological University are there in the city. It is an attractive tourist destination and great for people who want a second home for getting away from the city’s hustle and bustle.
Kalaburagi or Gulbarga is around 623kms from Bangalore and 200kms from Hyderabad. It has its district capital at Kalaburagi. The 4-laned Ring Road which measures 55.5 kms is the main thoroughfare of Gulbarga. It is connected to other cities such as Bijapur, Mumbai, Bangalore and Hyderabad via road and bus services.
Some of the places to sight see in Gulbarga include Shree Sharanabasaveshwar Temple, Sri SadguruDattatreyaNarsimha Temple and Buddha Vihar. If you want to stay towards northern Karnataka for its historic importance, then this would be an apt location.
Shivamogga or Shimoga is at the gateway to the Western Ghats and located by the Tunga River. Its administrative capital is in Shivamogga district. It is an important centre for pre-university education in Karnataka as it has a number of schools such as PES PU College and DVS Composite College.
Colleges such as the PES Institute of Technology and Management and the Jawaharlal Nehru National Centre for Engineering are located here. If you are looking for a career in education, then this is a good city to start off in.