According to market research data, landlords in India's technology hub, often dubbed as India's Silicon Valley, now command the highest proportion of their property's value as rent, surpassing Mumbai, which is known as a financial hub of the country.
Karnataka Wikipedia: Have you ever heard of the delectable dessert known as “Mysore Pak”? This widely beloved sweet treat is enjoyed not only in India but also beyond. It originated from the city of Mysore, which is one of the most well-known cities in the Indian state of Karnataka.
In addition to Mysore Pak, there are other tasty treats that this region is famous for, such as the “thatte idli” served at Bidadi road in Bangalore. The name “thatte” refers to the circular disc-shaped leaf bowl in which it is made, and it is known for being an anytime meal that is both delicious and affordable. Another popular dish is Dharwad’s “benne dose”. These are just a few examples of the many tasty and well-known anytime meals that can be found in this region.
But the major city of Karnataka is Bangalore, which has earned the moniker of the Indian Silicon Valley on a global scale. The city possesses an impressive 43 unicorn startups out of the 106 in India as of 2022. This indicates the presence of a supportive ecosystem that has become well-known for its IT sector and capacity to foster top tech brands.
The capital of Karnataka state, accommodates more than 1.5 million employees, including those working for multinational corporations such as Alphabet Inc., Google, Amazon, Goldman Sachs Group Inc., and Accenture Inc., among others. With such a substantial workforce operating from a single location and living alongside the local population, the principles of supply and demand inevitably come into play.
Hottest residential market of the nation
Recent data indicates that rent prices have surged up to twice the amount compared to 2019 in various parts of Bengaluru, as well as in the entire NCR region encompassing Noida, Delhi, and Gurugram.
As companies begin to restore the office culture, there has been a sudden spike in the demand for rental accommodations, leading to a significant rise in rent prices due to an imbalance between supply and demand.
According to market research data, landlords in India’s technology hub, often dubbed as India’s Silicon Valley, now command the highest proportion of their property’s value as rent, surpassing Mumbai, which is known as a financial hub of the country.
Bangalore, has become a hub for the information technology (IT) industry over the past few decades. The city’s transformation into an IT hub is attributed to a combination of factors such as the availability of skilled manpower, favourable government policies, and the presence of world-class educational institutions.
The IT industry in Bangalore can be traced back to the establishment of the Indian Institute of Science (IISc) in 1909. The IISc played a significant role in the development of Bangalore’s scientific and technological ecosystem, attracting researchers and scientists from all over the world.
The establishment of the Electronic City in 1978 was a major turning point for Bangalore’s IT industry. The Electronics City was the first software technology park in India and provided a platform for the growth of the software industry in Bangalore. This was followed by the establishment of the International Tech Park in 1996, which further accelerated the growth of the IT industry in Bangalore.
The availability of a large pool of skilled manpower has been a major advantage for Bangalore’s IT industry. The city is home to some of the best educational institutions in the country, such as the Indian Institute of Technology (IIT) and the Indian Institute of Management (IIM), which have produced some of the most talented professionals in the field.
In addition to this, the government of Karnataka has been instrumental in creating a favorable environment for the growth of the IT industry in Bangalore. The government has implemented policies and initiatives such as tax exemptions, subsidies, and infrastructure development, which have attracted several multinational companies to set up their operations in Bangalore and that gives more fame to the state of Karnataka.
Throughout history, many leaders from Karnataka have fought courageously against British colonialism, displaying their unwavering commitment to India’s freedom struggle.
Karnataka played a significant role in the Indian Independence movement, with several prominent freedom fighters hailing from the state. The state witnessed several protests and movements against British rule, with leaders such as Kittur Rani Chennamma, Sangolli Rayanna, and Keladi Chennamma leading the way.
The Non-cooperation Movement of 1920-22 saw a large-scale participation of people from Karnataka, with leaders such as S. Nijalingappa, Sardar Veerendra Patil, and Kengal Hanumanthaiah joining the movement. The Quit India Movement of 1942 also saw widespread protests and demonstrations in Karnataka, with leaders such as K. Hanumanthaiah, S. Nijalingappa, and T. A. Pai playing key roles in promoting nationalistic fervour in the state.
Karnataka is a state with its own rich cultural heritage, a distinct language, and a unique cuisine. This does not imply that the populous of Karnataka do not hold respect for the Indian culture, flag, or constitution. In recent times, some reports had emerged from Karnataka of discrimination against individuals hailing from different states particularly from Bihar. However, it is important to note that such incidents do not indicate that the entire populace of the state is prejudiced and every society has bad apples that need to be discarded before they rot the society. We believe that only a small minority may hold such extremist views, while the majority are likely more closely tied to their national interests and culture, which carry a distinctive identity.
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