Bengaluru Is The Most Engaging Property Market In India
- A
- By Admin
- Jan 23, 2019
- 0 Comments
- 33 Likes
- 764 Views
Numerous researches, both regional and national, have underlined that the real estate market in Bengaluru at present holds the most prominence. In fact, it may be said that Bengaluru real estate holds the current status of being one of the most striking residential real estate markets in India; it is a high ROI generating market.
While major cities that previously held the position of being the most promising real estate markets, like Delhi, face issues regarding supplies, the stable affordable property prices in Bengaluru have kept the city on the top, while Hyderabad too is peaking up pretty well.
Factors Contributing To The Prominence Of Bengaluru Real Estate
It comes as no surprise that with the boom in the IT sector of the city, Bengaluru has seen a major influx of people shifting to the city for better career opportunities. Thanks to this fact, not only does the real estate market in Bengaluru offer sound returns on investment, but also assures rental income to property buyers who are looking for simple investments. The city, in most recent times, has shown steadiness as well as strong macroeconomics dynamics.
A relative decrease in the attractiveness of the real estate market as an asset class over the last couple of years has been noticed. However, even today, residential real estate markets in India attract a lot of capital. It is believed that instead of the primary market, the secondary market has become the most attractive asset in real estate, and the under-construction residential segment is one of the sectors in the real estate market that are attracting lesser interest in recent times.
The Post Demonetization Scenario
After the demonetization move by the government, it was noticed that the real estate in Bengaluru did not suffer any major fluctuations or upheavals as compared to other states. In fact, Bengaluru also managed to uphold the growth of the real estate sector. Many experts state that almost 40% of the under-construction projects in the city will be ready to move in by the next 3-4 quarters.
The major point in its favour has been that the property prices in Bengaluru are still very affordable, when seen with the number of amenities and features that property buyers will be able to avail with a property investment in the city. India’s Silicon Valley has actually been ranked as the fifth cheapest city for property by Economist Intelligence Unit’s Worldwide Cost of Living Survey 2018. There is no doubt to the fact that affordability is the biggest factor that attracts aspiring property investors, and has made Bengaluru one of the most preferred destinations for property investment in India.
The Real Estate Market Break Up
Bengaluru is the country’s most stable housing market as well as the largest office market as of yet. Originally, property investors in Bengaluru had been from Chennai, Kochi, and other South Indian cities, with a bare minimum percentage of investors being from the northern cities. However, more recently, the city is drawing more and more investment for its residential developments from Kolkata, NCR, and Mumbai in a major way as it still remains to be more affordable as compared to these property markets. For example, while the Mumbai real estate market has breached Rs. 8000 per sq. ft. on an average, the average rate at Bengaluru remains around Rs. 4000 per sq. ft. (prices are taken as an average rate and will vary with different localities and developments).
The continuation of demand and supply, a suitable climate in the city, along with stability in economic growth has helped make Bengaluru an attractive alternate destination for prospective property investors. Also, it is not just individuals, but large private equity investors as well who are betting high when it comes to the property market of Bengaluru.
The time is right for potential property buyers to invest in the real estate market of Bengaluru, as the city’s potential has already been recognized, and the property market is gaining more and more momentum.
You May Also Like
SEARCH
RECENT POSTS
- Understanding Sale Deed in India
- How to apply for a NEW PAN card in India
- Mindspace REIT listing INDIA after Embassy REIT Success
- GOVT considering 100% FDI in completed housing projects
- Karnataka may cut property guidance value value by 5-10%
- Projects under RERA to get six month extension
- TNRERA Extends Project completion date by Five months
- RBI Extends Moratorium On Loans For Another 3 Months Till August
- How To Apply Encumbrance Certificate In Tamil Nadu
- Know all about KHATHA