source : https://regentology.com/

Haralur Road, a developing area encompassing Haralur, lies in the south-eastern piece of Bangalore city. Experts lean toward this area because of its close to laid out work environments like Manyata Tech Park and extraordinary settings, including shopping centers, educational institutions, and hospitals.

It comes under the jurisdiction of BBMP. Its proximity to some reputed IT companies, educational institutions, and excellent connectivity through Sarjapur Road and Hosur Road are key reasons investors and professionals working in neighboring IT Parks are interested in investing in affordable homes in Haralur Road.

Sarjapur, Electronic City, HSR Layout, Koramangala, Whitefield, and Outer Ring Road (ORR). BMTC sent off three new transport courses associating Sarjapur Road with Electronic City. Two of the routes run in a circle to Electronic City - one in clockwise and the other in anti-clockwise direction covering areas like Doddakannalli, Haralur, HSR Layout, and Kasavanahalli. Stage 3 alignment of Namma Metro with one of its routes (Carmelaram-Yelahanka-32 km) going through the locality will make development for the residential demand and improvement in the locality in the coming days.

It is excellently accessible, with the remainder of Bangalore utilizing ORR and Sarjapur Road. As Kudlu Road and Silver County Road go through the core of the region, there is a great city transport network with a significant bus station nearby: Haralur Bus stop,  Parangipalya Bus Stop, Somasundarapalya Aishwarya Apartments Bus Stop, and NIFT College Bus Stop.

This region enjoys availability to Kempegowda International Airport, which is about one hour 40 m away (52.5 km)—excellently connected to the rest of Bangalore via ORR and Sarjapur Road.

Today, Harlur Road boasts of its closeness to a few state and global schools, shopping centers, retail locations, banks and ATMs, facilities, and so on. Owing to the vicinity of Sarjapur and Electronic City to a portion of the significant IT parks in India's 'Silicon Valley,' the Haralur real estate market has developed dramatically. The authority acceptance of the area into the Bruhat Bengaluru Mahanagara Palike has likewise contributed. As a result, demand for Apartments in Haralur Road, one of Bangalore's noted suburbs.

While Haralur boasts of superb connectivity to a few key miniature business sectors, the infrastructural development in the space is currently at an early stage. It presents a chance for huge development later. The corridor has been distinguished for a brilliant city project, further helping this district. Metro development in Hosur Road is only a km away from this small market. The locality has a few finished and continuous residential projects from Grade An and other class manufacturers.

Haralur Road has a sufficient supply of housing by several leading developers. It is a rental market, and rental values range from Rs 18-20 per sq ft. At present 2-BHK apartments are accessible at a rent of Rs 25,000, and 3-BHK apartments are available for rent in the range of Rs 30,000- 45,000 per month.

The proposed infrastructural development, including widening the road and proposed metro on Hosur Road, parallel to Haralur Road, will boost the area. Haralur Road presents an opportunity for residential development provided the physical infrastructure in the area gets to the next level.

The area acquired popularity with the development of the ORR, and a good network helped it out. The region is generally involved by high rises on the residential development front, followed by plot development and individual houses. Enormous land packages accessible for development led development to launch their projects in the area. With its vicinity to major employment hubs, the region acquired a significant premium from prospective investors.

As Haralur is becoming an emerging real estate hotspot, many home seekers seek to invest in apartments in Haralur road. 

The real estate market is highly dependent on many factors. These factors include the economic graphs of a country and GDP. These factors indicate how good a Country and its people are doing financially. When discussing GDP, it is unavoidable to bring up the topic of employment rates. The employment rates directly affect the real estate market. If the employment rate in a country is optimal and excelling, buying power of the people will also be resultantly good. Because both of these factors, employment rates, and people's purchasing power, are directly linked.

Unemployment and Its Dynamics

During times of higher unemployment and economic downfall, businesses are down. There is no growth in the industries, and everyone is trying to cut down their costs. These situations mean businesses will now be spending very little and will do extreme budgeting. This cut down of expenditure means business or companies will not be doing their best when it comes to increments, raise in salaries or promotion of their employees. Similarly, companies will be striving to use less electricity, fewer services, and fewer other billed resources. When an organization does not hire more workers, the employees who have already been hired may endure increased workloads or be forced to depart from their positions. Considering all these things unemployment introduces a sentiment of fear among people. It makes them do very reserved budgeting. This shapes up the whole economic cycle slowly everyone gets involved in this. 

The Impact of lower employment Rates

People spend very little money in these circumstances, and the real estate market suffers from this. The reason is that since most people have the less financial capability when unemployment rates are at a peak. As a result, people are then reluctant to invest in real estate. People do not buy any property or think of future investments in such conditions. If people have a property they purchased for a higher price in the past they are more inclined to keep their properties rather than sell them. Since rates of real estate are also reduced owing to lower employment rates. This destabilizes real estate market prices. Economic downturns and higher unemployment rates are frequently associated with a drop in real estate prices.

The Impact of Higher employment rates

When employment rates are high, more people have solid financial positions and are more likely to invest in real estate, think about the future, and plan. This good sentiment and emotion further move on to shift the market trend, buying and selling of property, plots, housing increases which bring in the investments and so the prices of real estate tend to normalize. 

Conclusion

It is visible that the employment rate is one of the most crucial factors in deciding the price of real estate. Hence this is how real estate prices are affected by it.  We can deduct from this that conditions and situations can change at any time. In most cases, solid investments, such as buying a property in a fantastic real estate project like Blue World City, have proved beneficial in difficult times. Four years easy installment plan is available.