Bangalore is experiencing a positive flux across sectors, with transparent development in private and public infrastructure particularly road and transport. The town contains of a powerful salaried population leading to the important real estate market dynamics to mostly act as per the buyer demand instead of speculation.
Bangalore Property market has primarily been associate with end user driven market. End users represent around 75 percent of today’s market share, one in all the very best in developed markets of India. One in all the major reasons for the shift is ever raising job opportunities, resulting in a rise within the rate of migration and various demography.
Stock and Absorption
In the Bangalore market nearly 1, 19,000 residential units of construction are under various stages. The major concentration of residential is in South Bangalore 51%, East 28%, and North 17%. Bangalore is a balance market in terms of property pricing and residential supply. The residential evaluation here could be a direct operates of demand instead of speculation supported investment section.
The residential market in Bangalore provides plenty of options in ready to move in and also under construction properties not like several alternative cities wherever the stock is a lot of inclined towards the under construction units or soft launches. In recent times, Hyderabad has additionally joined metropolis during this league.
South Bangalore has witnessed maximum number of ongoing projects and launches in Bangalore which results in oversupply. Hence the value of capital in South Bangalore ranges between Rs 3300 to 4500 per sq. ft. In Electronic city a few recent launch have been priced at Rs 3900 and above. I South Bangalore around 14000 units are under construction and above 7000 units are ready to occupy stage.
Thanks to large presence of IT/ITES companies due to which East Bangalore has seen constant demand and supply. This zone has above 9000 units under construction and less than 2000 units at a stage of ready to occupy.
There has been a lot of publicity about North Bangalore, it has been opened up to new launches in a phased manner. North Bangalore has above 5000 units under construction and less 1000 units for immediate possession. West Bangalore for the last few years has been silent.