The last year failed to impress the customer sentiments in the nationwide realty network. Things were not much different for prominent regions as well as the outskirts. In this scenario, Bangalore city remained kind of stable with better results.
This is a great achievement considering how worst things proved to be in the last year. The city could show better stability in terms of realty developments and sales due to several factors, chiefly owing to the IT/ITES sector. The other factors remain increased employment and educational opportunities, impressive lifestyle and availability of several options in terms of residential sector.
The last year witnessed several peripheral areas being converted into active real estate hubs. The areas include Bellandur, Whitefield, Marathahalli, Bannerghatta Road and a few others.
The realty prices in the city have been more or less steady during the last few years. Prices went in for a slight increase in 2013, due to the unfavorable circumstances prevailed.
This year is likely to see more number of new launches and the city is observed to present a healthy mix of luxurious and mid-level properties. Affordable housing sector also showed similar results with a significant number of launches.
The city has options for all, be it a luxurious housing, mid-end segment or budget properties.
Adding to the number of fast developing areas are regions like Old Madras Road, K R Puram, New International Airport Road and Outer Ring Road. Apart from these, several northern, western and suburban locations are coming up. More builders are coming up with flats or houses well within 1 to 2 crores. And, reports indicate that people are willing invest in a luxurious home which allows them to live a life on par with global lifestyle standards.
The Bangalore Metro Rail Projects Deserves mention here as a game changer that brought in overall improvement in the sector. The demand was quite stable in areas surrounding the metro and more and more builders are showing interest in these regions.
Bangalore also witnessed many projects coming up in the category of environmental-friendly homes.
Yet another development, though not very recent has been the new international airport in Devanahalli. With the airport, surrounding regions gained huge popularity as residential hubs.
With more development coming up, in the form of proposed infrastructure projects would play a big role in shaping the future of Bangalore realty sector.
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The last year failed to impress the customer sentiments in the nationwide realty network. Things were not much different for prominent reg...
