Bangalore has been the fastest growing city of India over
the past few decades. Information Technology has been the major development
driver responsible for aggressive real estate development of the city. Being
the IT Hub of India, Bangalore has a multi-cultural population, good social
infrastructure, brilliant educational institutes and an improving physical
infrastructure. Now, the most promising residential micro-markets are Outer
Ring Road, Sarjapur Road, Whitefield and North Bangalore.
Bangalore real estate builders are more concerned about the
planned and strategic development of the city. Demand for high-end residential
projects is expected to be steady over the next twelve months. The city is one
of the most promising markets of the villa projects in India. Affordable
housing will see constant demand on the outskirts of Bangalore, in all
directions. Availability of large land parcels at lower prices has encouraged
affordable housing projects in these places.
The Bangalore market witnessed improved residential real
estate absorption in 4Q 2013 in comparison to 3Q 2013. Over 30 residential ventures
were launched across Bangalore in the last quarter of 2013. Capital values
appreciated marginally across different sub-markets in 4Q13 due to a rise in
sales volumes and higher rates at most projects that were approaching
completion.
