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Tuesday, 3 December 2013

Bangalore Real Estate Is On a Positive Note

It has been noticed that the Bangalore’s real estate market is on a positive note as the new government has gained stability and is looking forward to address some problems of the previous one. The interest rates too have fallen. What is making it more attractive is the fact that the property prices have been comparatively steady in the last past few.

According to a senior executive of a renowned realty firm, the mood among investors is positive. He also stated that good infrastructure and governance played a crucial role in the building Brand Bangalore. Moreover, the quality must be maintained in the ongoing projects and they must be completed on time.

With the rupee weakening, builders opine that Bangalore is attracting huge foreign buyers. In terms of foreign currency, a weaker rupee made Indian goods cheaper. According to an executive from a renowned realty firm, this was the ideal time to invest in Bangalore by foreign investors.

Besides, the home loan interest rates which had gone up to 11% and higher are currently down by around 10%. With the inflation rate dropping, the bankers are expecting the tendency to continue. Since most buyers take large loans to finance their property purchases, interest rates play a crucial role in real estate.

According to another executive from a renowned realty firm, what is helping bring buyers into the market is that systems like wherein the builder takes the ownership of the customer's EMI until the project is complete. What is keeping prices stable in Bangalore is that Bangalore is known to be an end-user market instead of a speculative one, according to him.

However, there seem to be major concerns about the job market. Though IT companies are not creating many jobs as they were doing earlier, still this is not an instant fear.

In this scenario, the realtors are looking forward to the latter half of 2013. This would be the time when the Rehabilitation and Resettlement Bill, and Real Estate Regulatory Bill and the Land Acquisition, are likely to be passed. In case the "The Real Estate Regulatory Bill, is passed, this will help in the growth of the country’s realty section. It would also give rise to a healthy business and erase all the unethical operators.

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