Bangalore is on the lines of becoming a world class city in terms of regulated and sustainable urban development all across. The Bangalore Development Authority (BDA) is operating to reshape the planning and implementation processes to meet the international standards.
A positive impact would definitely be on the real estate markets of Bangalore once plans started turning into reality. Bangalore will become first Indian city to meet international standards. Up gradation in urban planning and development using GIS tools and latest digital technologies will convert Bangalore’s current unstructured market into a structured and organized one.
As a result Bangalore property values are going to increase substantially while the markets consolidate with new developments.
Bangalore New Master plan for 2021 envisages urban renewal and redevelopment through implementation of spatial data infrastructure. Bangalore development authority (BDA) is working on urban development and management using latest scientific technologies (GIS) to ensure a well planned and sustainable urban growth and this will boom the Bangalore property market in the coming year.
With implementation of Digital Urban Spatial Repository (DUSR), Digital Urban Monitoring and Land Management information system (DUM & LMIS), Bangalore will transform into more efficient, competitive city in the global arena. The project would include improvement in land use, social and physical infrastructure, housing demands, public utilities and advancement in civic amenities required for descent lifestyle of international standard.
This will attract large number of foreign investors who would like to buy a property in the city and make investments and further boost the property values.
The new plan ensures regulated and advantageous urbanization with the main objective of sustainable development. Property values are directly related to city development thus future expansion will increase capital and rental value of the city. The new plan will also help in ruling waste land to allocate it for better purpose and to make spatial transformation as per requirement. It also aims to optimize use of valuable resources and is cost effective and more accurate.
Bangalore real estate [http://www.magicbricks.com/property/city/p/p~p!ct~3327!/Bangalore.real-estate] market will transit and position it internationally and will further set benchmarks for Indian real estate, experts say.
