The real estate of Mangalore deals with the commercial and residential properties within the territory. With the growing interest of the software companies to establish their offices in Mangalore, Mangalore real estate market has shown an upward ascent.
Mangalore is located at about 357 kilometers from Bangalore and is expected to be the next destination of IT companies. According to the research by Jones Lang LaSalle, the real estate prices of Bangalore, Chennai and Hyderabad has reached a point of saturation. Therefore, Mangalore, which is located at a vicinity to these cities, has become the next target of the IT companies. As a result, the real estate industry of Mangalore has accelerated tremendously.
An important aspect of the real estate of Mangalore is its cost. The price of the real estate at Mangalore is estimated to be the half of the real estate at Bangalore and Chennai. It is due to this factor that most of the software companies and the IT-enabled services are extending their offices at Mangalore.
It is interesting to note that Infosys has already declared the commercial potential of Mangalore. Besides, Wipro along with many other companies of India have also declared to launch its office in Mangalore. Oil and Natural Gas Corporation has also decided to launch a petrochemical plant and refinery in Mangalore with a capacity of 15 million tonnes. The decision of these companies to establish their offices in Mangalore has greatly influenced the real estate in Mangalore.
Moreover, in order to develop the real estate of Mangalore, three IT parks at Thumbe, Ganjimutt and the area near Mangalore University are being constructed. It is noteworthy that in spite of receiving a good response from some of the prestigious companies, the price of real estate of Mangalore is steady.
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Last Updated on 21 September 2011
