The rapid growth of Bangalore City in few decades in terms of infrastructure, educational institutes, social infrastructure, and the real estate sector is driven by the flourishing IT industry.
The city is now home to a large number of High Net-worth Individuals (HNIs) and is the third-largest real estate hub for HNIs who park their assets here and one of the topmost cities where NRIs want to settle down in the future.
Due to its multicultural ethos, the city attracts more populace and today the city houses around 10,000 individual dollar millionaires and also home to many NRIs who are professionals and settled down in the city, which drive the demand in the real estate sector especially the housing segment.
Particularly, in sub-markets like Whitefield, North Bangalore, Outer Ring Road, Central Business District (CBD), and Secondary Business District (SBD), the demand for high-end residential apartments in the city has increased.
Right now, the most optimistic and preferable residential micro-markets in the city are the North Bangalore, Whitefield, Sarjapur Road, and Outer Ring Road (ORR).
With many ups and downs in the sector, a study and outlook of different residential categories is given below:
High-end residential category
Property price - Rs.1.5 Crore and above
Residential Type - New villa, villaments, and row houses
Locations - Whitefield, North Bangalore, Sarjapura, and Outer Ring Road (ORR)
Study & Vision - Demand is likely to remain stable in the coming year
Mid-segment residential category
Property price - Rs.75 Lakh to Rs.1.5 Crore
Residential Type - Above 2 and 3 BHK luxurious apartments
Locations - Electronic City, ORR IT Corridor, Whitefield, and some areas in North Bangalore
Study & Vision – Demand driven by IT/ITeS professionals who look for home close to their office and focus on social infrastructures, educational institution, hospitals and many other facilities
Affordable residential category
Property price – Rs.50 lakh or below
Residential type – 1, 2, 3, BHK apartments
Locations – Outskirts of the city, Peripheral Ring Road (PRR), South Bangalore, North Bangalore, West Bangalore
Study & vision – The proposes infrastructure projects like Metro Rail drives the demand
Synopsis of reality market
In the fourth quarter of 2013 there was an increase in the absorption of residential sector against the third quarter of the same period. About 30 residential projects were launched in the fourth quarter of 2013 and a slight appreciation in capital value and the sales volume increased as the most of the projects were in completion stage.
Opinion about Bangalore Reality Market
It is likely that in the first half of the 2014 the growth of residential market will remain stable and a modest number of launches in residential projects will be witnessed, while leasing and capital values will remain stable and is expected to rise in second half of 2014.
Factors that drive the leasing and capital value of Bangalore residential segment:
• Development in IT sector
• Investment by more HNIs and NRIs in residential segment of the city
• Proposed infrastructure projects by government like Elevated expressway, Metro Rail, and Peripheral Ring Road (PRR), many others
• Projected SEZ and IT Parks in North Bangalore such as Devanahalli Business Park, ITIR in Devanahalli, Aerospace SEZ, Airport City and others
So many developments are going on Bengaluru and the rate of the flat on anywhere in Bengaluru also going high. But, Dreamz Infra understands the value of the customers so they are providing in much lesser rate as compared to any other real estate companies as per the locations. Site of all projects of Dreamz Infra is one main area where Hospitals, Schools, College, Highway, Market are nearby so as to whoever going to live in a flat in the future , never feel difficult and never think regression about the flat area. Come to Dreamz Infra soon, book your flat and live a peaceful life afterwards.
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