Bangalore Property market has always withstood the test of time. In this post I am presenting a brief review on the Bangalore Property market’s performed over the last few months.
- Bangalore property market remained steady over the last six months.
- Mid segment properties ( Rs 40-70 Lakhs) have done well in the South, East and North Bangalore
- Bellandur, Whitefield and Marathahalli saw the highest increase of around 15% in average capital values in the last one year.
- RT Nagar and Malleswaram in North Bangalore saw the maximum rise of about 20% in the average rental values in the last few months.
- The maximum new supply in the property market was in the budget range of Rs 30- 50 Lakhs.
For buying and Selling:
- Capital Values across Bangalore recorded a significant change in the Jan-Mar 2014 quarter compared to Oct-Dec 2013 Quarter.
- Koramangala (7%), Marathahalli (5%) and Rajarajeswari Nagar (5%) areas showed an increase in the capital values.
- The most preferred localities are Whitefiled, Bannerghatta Road and Sarjapur. The reasons for this are improved connectivity, proximity to work places and Outer Ring Road.
- Electronic City area has wide variety of options in the budget range of Rs 40-60 Lakhs and is one of the affordable localities in Bangalore
- HSR Layout is the most preferred location for renting. It is connected well to Koramangala,Electronic City and Sarjapur Road.
- The highest rental values are prevailing in Koramangala and Bellandur areas.
- Localities close to work places like Bannerghatta Road, Electronic City, Sarjapur Road and Marathahalli continued to be affordable in terms of rental values.
Demand And Supply : City level
The property supply across Bangalore has exceeded the demand. The supply of builder floor apartments is way above the demand. The demand for multi-storey apartments in Bangalore was a mere 4% higher than its supply. The current unsold inventory in Bangalore Property market is around 40,000 units. The properties in the price range of Rs 60-80 Lakhs have high demand.
Budget Wise -Demand & Supply:
Property Type – Demand & Supply:
BHK wise – Demand & Supply:
Real estate industry and property investors both have lot of expectations from the new Government. Real estate industry is looking forward to the implementation of Real Estate (Regulation and Development) Bill in this budget sessions of the Praliament. And the end users (buyers) are looking forward to tax sops for investments in properties. Let us wait till the budget session which is scheduled for next week for more information.
(Source & Reference: Propindex,Magicbricks)