Real estate in India has witnessed dynamic transformation ever since the introduction of regulatory policies such as RERA, demonetisation, and GST. However, even as the changes were being ushered in, South India continued to gain momentum and act like a silent crusader. Today, cities towards the South have become a focal point for future real estate developments. In case you are planning to invest in South India, here are a few places to consider.
South Indian cities such as Bangalore has emerged as one of the best-performing real estate markets in the country. While the majority of the other areas across the country reported downward pressure on prices and a reduction in supply, the cities towards the South continued to resist the recessionary pressures and reported price appreciation. The reasons behind the same can be attributed to limited new launches across the region, focus on completing delayed projects, availability of land parcels at reasonable prices, high retail growth, increased demand from Non-Resident Indians (NRI) and the development of social infrastructure over several years.
Real Estates News of Bangalore:
Bangalore remains one of the most preferred real estate destinations for investors and end-users, not only from within the country but overseas as well. Factors such as strong macro-economic dynamics, smart infrastructure, favourable climatic conditions, presence of IT hubs, and the presence of varied housing options for all the sections of the society; Bangalore has witnessed an incremental upsurge in its population over the years. Led by rising consumer demand, the city reported an increase of 80 percent in the overall housing sales between 2017 and 2020. Reluctantly, the overall unsold stock reduced by 44 percent during the same period and quarters-to-sell, too, witnessed a substantial decline from 42 months in 2017 to 15 months by the end of 2020.
Property price remain unchanged in Bangalore Real Estate
The housing market of Bangalore remained sluggish in Apr-Jun 2020. The ongoing water crisis, coupled with excessive delays in the metro project, land acquisition deals and limited availability of RERA (Real Estates Regulation Authority) -approved projects impaired the housing demand in the city. Reluctantly, the unsold housing stock in the quarter ending June 2020 stood at 70,000 units. The demand-supply disequilibrium put downward pressure on the average capital prices in the city, so much so that nearly 50 percent of listed localities reported either a downtrend or stagnancy in their average property values in 2020.
Affordable homes and mid-income segment enjoyed maximum popularity from the home buyers community. However, limited supply in the categories affected conversions. Over 60 percent of the housing demand in the city was captured by properties priced within Rs 60 lakh against the overall market share of 40 percent.
Cost of renting office in Bangalore increased this year
With over 70,000 registered IT companies, Bangalore is acknowledged as one of the biggest technology clusters in the world, attracting thousands of young minds each year. The city headquarters about 80 percent of the global IT companies and accounts for almost 34 percent of India’s total IT exports. Moreover, of around 871 Multi-National Companies (MNCs), which have their Research and Development centre in Bangalore,India
Out of all 700 are located in Bangalore. The metropolitan is also home to some of the international market leaders in the IT/ITeS and Banking, Financial Services and Insurance (BFSI) sectors, including JP Morgan, State Street HSBC, Infosys.
Indian real estate attracts $5 billion PE in 2020, commercial projects lead
Indian commercial real estate retained its Numero Uno position and continued be a preferred destination for global institutional investors in the backdrop of robust office space take-up, falling vacancy levels and rising rentals
What if construction banned for 5 years in Bangalore
As a knee-jerk reaction to the acute water shortage faced by Bangalore due to the Kaveri water crisis the government has proposed to implement a five-year ban on the construction of high rise residential buildings across the city. Senior officials of the Bruhat Bengaluru Mahanagara Palike (BBMP) argued that developers perpetually kept on with the construction of new apartment complexes and townships in the city without assuring the buyer of an uninterrupted supply of drinking water and other basic amenities such as sanitation and drainage. A final decision on the ban would be taken once the government corresponds with leading builder lobbies and developers. If you are interested to construct your home soon , we are here to provide you an opportunity to buy lands, farmhouse , construction of 2 BHK , 3 BHK flats in an affordable price.If you are interested to buy contact with us.
For more details visit us at http://www.alphaultraprojects.com
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