Mangalore, officially referred to as Mangaluru is a very important port city in the South of India in the state of Karnataka. It has been an important location as a port in the Arabian Sea and major port in India for a very long time indeed. Today it is a bustling city with a very vibrant population, work force, infrastructure, development and is actually a great real estate investment destination. Currently Mangalore is seeing a buzz in terms of real estate development and property related activities across its length and breadth. There are many property developers in Mangalore who are developing good quality residential and commercial projects in this city. As you pass across the city streets and also across the suburbs you can see various under construction properties in Mangalore being developed at full speed. There are many national level developers like Godrej properties &Raheja Universal Pvt Ltd who have started their world class residential projects in Mangalore. Raheja Universal, a real estate development company headquartered in Mumbai, has come up with a very good residential gated community and sea facing project in Kulai called Raheja Waterfront.
The definition of a good real estate investment is an investment that grows in terms of capital over a period of time (the faster, the better) and / or also a property that provides a regular rental return to the owner. Ideally any location that is growing and has all the seeds of becoming a giant real estate tree in terms of its location, population, development, job creation and a host of other positive factors, is considered a good real estate investment destination. Mangalore, as of today, is definitely one such real estate investment opportunity in India.
Let us discuss the 7 most obvious reasons that make Mangalore a great real estate investment hub today.
1.Location – As the old adage goes, real estate is all about location & location & location. Mangalore is naturally a very good location being a strategic port that has seen enormous business and trade activities since hundreds of years. This natural and default advantage makes it an obvious choice for people to call it their homes and set up their lives around this city. So there is always an organic demand from the local population for good homes and residential accommodation. Essentially the real estate demand here is organic and perennial. This factor is always good for real estate growth of any city / town or location across the world.
2.Population mix & Climate - Mangalore is the largest city and administrative headquarters of the Dakshina Kannada district. Very importantly Mangalore is one of the most multicultural non-metro cities of India. This makes it a very unique proposition indeed as the more variety of people constitute a given location, the stronger the overall growth and well-being of that location simply because of the diversity. The varied influence of multiple cultures, geographies, skills and people make the social fabric of Mangalore a very rich and fertile one. It has given rise to various industries, jobs, businesses and opportunities to one and all. The migrant population to any place also determines the real estate landscape of any place and Mangalore is no different.Another very important aspect to any development and growth of a given location is its climatic condition. Mangalore has a tropical monsoon climate and falls under the direct influence of the Arabian Sea branch of the southwest monsoon.
3.Strong Economy – Mangalore is rich in terms of natural resources and its major economy is driven by industrial, commercial, agricultural processing and port-related work. As a matter of fact, the New Mangalore Port happens to be the country’s 8th biggest port when it comes to handling cargo which is definitely a big thing when you are speaking about a large country like India. A whopping 3/4th of our country’s entire coffee exports and cashew nuts exports is taken care of by Mangalore. A variety of life supporting materials like crude oil, edible oil, LPG, timber and many more crucial things are imported through the Mangalore port. A strong organically driven economy definitely attracts some of the biggest companies, investments, corporate giants thereby affecting the entire Mangalore real estate ecosystem positively.
4.Strong Industrial & Corporate sector –Some of the biggest industrial giants that have set up bases here in Mangalore include BASF, Mangalore Refinery and Petrochemicals Ltd, Mangalore Chemicals and Fertilizers Ltd, Kudremukh Iron Ore Company Ltd, HPCL, BPCL, Total Oil India Limited and many more. The Mangalore Special Economic Zone is being scouted by ONGC for a refinery set-up. BharatiDefence and Infrastructure Limited hasput up its ship building establishment close to Tannirbavi. Mangalore has also seen an influx of contemporary IT companies, financial powerhouses and outsourcing companies that have set up shop here for making the most of Mangalore’s booming economy and strong, skilled & highly educated man power. IT powerhouses &Outsourcinggiants including the likes of Infosys, Cognizant Technology Solutions, Endurance International Group, Mphasis BPO are in Mangalore. This beautiful city also has 2 designated huge IT parks called Export Promotion Industrial park (EPIP) at Ganjimutt and Soorya Infratechpark situated in Mudipu. The Special Economic Zone (SEZ) is located a stone’s throw away from the prestigious near Mangalore University. Corporation Bank, Canara Bank and Vijaya Bank are the 3 major nationalized banks that were set up in Mangalore ages ago. Now there are multiple banks and financial house that have bloomed over the past few years.
5.Healthcare and Support – the healthcare and medical facilities that are available in Mangalore are unbelievably good and as matter of fact Mangalore is considered to be one of the top twelve locations in the whole world for healthcare. It has actually left behind some of the most advance global cities of the world in terms health care and life sciences. This actually speaks volumes aboutMangalore’sfantastic medical infrastructure, education system, healthcare facilities, colleges and of course the positive and proactive attitude of the people here towards a better life overall. It is also well known that people from across the globe visit Mangalore for health related procedures and it is one of the biggest medicaltourism destinations in the whole world today. Now wonder this veryimportant factor makes Mangalore a very attractive real estate and property investment zone for everyone.
6.Good planning & development – Mangalore, as a city has been planned well and as of now you can find good property developments spread across the prime areas in Mangalore. There has been a very strong push by the local authorities to ensure that the real estate development in Mangalore is spread evenly resulting in a nice and steady growth in new projects and properties in Mangalore. Locations like Kodialbail, Pinto Lane, Kadri, Kulai, Kulshekar, Kavoor, Padubidri, Kulur, Mulki, Surathkal, Pandeshwar, Mannagudda, Nantoor, Falnir, Thokkttu, Pumpwell, KottaraChowk, Urwa, Derebail, Bejai, Hampankatta, etc are seeing many new residential developments propping up.Mangalore is rapidly and systematically growing and expanding. As the development of the infrastructure and connectivity is well planned, the resulting micro level developments like housing are also happening in a planned manner across various locations here. This is a very strong reason that real estate developers and real estate investors are very active in Mangalore today.
7.Good Quality of Life & real estate at affordable prices - Mangalore is one of the best cities to live in India with its clean environment, updated infrastructure, good roads, good healthcare, good work opportunities, relaxed lifestyle and of course extremely good real estate options. If you were to choose any major city in India including Mumbai, Pune, Bangalore, Delhi, Chennai and compare the property investment options available with the options in Mangalore, you will find Mangalore to be a better destination. The return on investment due to the low cost entry in Mangalore real estate gives one an automatic advantage over costlier cities in India. More importantly, Mangalore is a stable and safe market and generally there are no surprising and shocking changes in the economy here overall. In terms of investment, compared to other cities such as Mumbai or New Delhi, Mangalore has always been a safe bet. In the recent past, therefore, there have been a lot of Non resident Indians who have been investing in Mangalore real estate and also a lot of new property developers who have started developing good properties here. The chances of capital appreciation in any given property in Mangalore real estate are very high due to all these positive factors.
All in all the growth of Mangalore real estate is a very obvious truth. With luxury properties and prestigious real estate development to suit the taste of even High Net worth individuals, Mangalore is really maturing fast as a property destination in South India. Sea facing projects such as Raheja Water Front, Kulai, Mangalore are taking the positive image of Mangalore further and to a wider audience globally.