All You Need To Know About The Property Trends In Bangalore

The property market of Bangalore withstood all the ups and down that took place in past one year and emerged one of the finest destinations to invest amongst the other metro cities. The year 2013 was a nightmare for the realty sector and even 2014 didn’t fare very well, but the garden city didn’t back down and emerged as a city with the highest number of launches in the year 2014. The Property market of Bangalore is primarily an end-user driven market, but if we talk about the year 2015, from the total investment of $ 4.8 million dollars made in the whole country, Bangalore received the second highest amount focusing on the development of the commercial sector. That’s not all; there are many other property trends that have been witnessed in the past two-quarters of the year 2015. Here we have listed some of them for you.

Market Concentration Bangalore has an end-user driven property market with 22% of the real estate options in the luxury segment, 33% in the mid segment and large portion of 45% in the affordable segment. The market has some of the best options for the people looking for an abode in an affordable range. If we talk about the BHK segmentation, the city has housing options with 43% 3BK, 40% 2BHK, 11% 1 BHK and 5% 4 BHK Flats.

Effect of “Housing for All” The number of projects in the affordable segment increased from 39% in quarter 1 of 2015 to 45% in the second quarter. One of the major reasons behind could be the introduction of “Housing For All” by the present government at the center level.

Supply of 1 BHK Increased The 2 BHK and 3BHK flats comprises the major 80% of the total new supply in the property market of Bangalore, but the supply of 1 BHK Flats went from 7% to 11% in this year. Builders have come up with quality 1 bedroom options for employees working in nearby IT hubs.

Time of “Apartments” Thanisandara Main road saw the highest number of launches in the first 2 quarters of the year with a majority of apartment options. About 95% of the total launches were apartments along with the remaining share of Plots, villas, and Rowhouses in the city.

New Trends Some of the builders are selling their properties on the carpet area basis which is seen very less in Bangalore. Also, the spillover from some of the best localities like Whitefield and Electronic City has led to the increase in the rental yield of the nearby areas. Localities like Kundalahalli, Sarjapur Road, and KR Puram faced the spillover of Whitefield while HSR Layout and Hosur saw the spillover of Electronic City.

Realty Updates In Bangalore

a.)The current master plan of Bangalore will get expired in the year 2015; BDA will soon come up with the new master plan which will expire in the year 2031.

b.)13,400 units were launched towards the end of the 1st quarter of 2015 compared to the 11,170 units in 2014.

c.)The net absorption rate has also increased. A boost of 15% in the sales has been witnessed year on year.

d.)The urban district authorities took 3 acres and 23 guntas of land in village Pattandur Agarhara and KR Puram Hobli under possession.

Top 5 Markets In Bangalore

a.)Wakefield

b.)Electronic city

c.)Mysore Road

d.)Kanakpura Road

e.)Thanisandra Main Road

Markets Best for Rental Yield

Hosur Road

Growth Drivers

a.)Large Number of Industrial Establishment

b.)A popular IT/ITeS Hub

c.)Affordable compared to other localities

Sarjapur Road

Growth Drivers

a.)Large number of commercial establishment b.)Big IT/ITeS Hub c.)Strategic Location

Kundalahalli

Growth Drivers

a.)Spillover From IT/ITeS

b.)Strategic Location

HSR Layout

Growth Drivers

a.)Strategic Location

b.)A well-planned residential layout

Markets Best for Tenants

a.)Whitefield

b.)Electronic City

c.)Marathahalli

d.)Koramangala

e.)HSR Layout

Key Projects Launched in Q2 2015

Affordable Segment

a.)BSR Towers by BSR Construction, located in Hebbal

b.)Unishire Indira Elan By Unishire Group, located on

TC Palya Road

Luxury Segment

a.)Suvilas Royal Gardenia by Suvilas Properties, located in Jalahalli West

b.)Brigade Crimson by Brigade Group, located in

Whitefield

Mid-Segment

a.)Salarpuria Sattva by Divinity Salarpuria Group, located on Mysore Road

b.)Pride Palatia by Pride Group, located on Hennur Road

The current realty trends in Bangalore are in favor of both the end-users and the investors. The city that was ranked 6th in the year 2009 has defied all the odds and is now giving a tough competition to all the major cities in the property market.

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