Karnataka Horizon - Navigating Real Estate Excellence in the South

Karnataka, a thriving state at the forefront of India's growth trajectory, plays a pivotal role in the nation's economic and social development. Ranked the fourth-largest state in FY 2022-23, Karnataka contributed 8.2% to the national GDP, steadily increasing to 8.4% in FY 2023-24. Notably, the state boasts the highest per capita GSDP, exceeding the national average. Its vibrant landscape, with a 39% urban population, makes it the most sought-after state for companies looking to set up their global offices in India. 
The state capital, Bengaluru, is the indisputable engine driving India's information technology (IT) sector. Contributing a remarkable 40% to the nation's IT exports, valued at USD 155 billion as of 2022, Bengaluru's phenomenal achievement has positioned Karnataka as a leading centre of innovation, fuelling India's economic ascension on the global stage. 
This report provides a detailed analysis of Karnataka's current real estate landscape, with a specific focus on Bengaluru, and forecasts its trajectory towards 2030. By the end of the decade, the city is poised for significant expansion in its peripheral regions, particularly in the north, east, and south. This growth will be fuelled by the confluence of readily available large-sized land parcels and a robust pipeline of infrastructure projects encompassing various sectors. 

Listed below are the key focus areas which can help accelerate Karnataka’s growth :

• Technology - Developing premium, sustainable tech spaces with cutting-edge facilities would be the key.
• Innovation - Focussing on R&D facilities for its commercial and industrial sectors to fuel economic growth.
• Manufacturing - Investing in high-end manufacturing with AI and robotics to boost business activity, attract investments, and drive demand for storage and warehousing.
• Infrastructure - Modernising physical and social infrastructure would create a robust foundation for continued growth and development.
• Sustainability - Prioritising the implementation of robust sustainability initiatives has the potential to solidify its position as a frontrunner in green development.

Karnataka aspires to become a USD 1 trillion economy by 2032. Realising this vision hinges on leveraging existing strengths and crafting comprehensive strategies. Supportive government policies and a streamlined business environment will be crucial, attracting investments in key growth sectors. 

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