Bangalore residential real estate market sees slowdown | INRnews
According to Cushman & Wakefield, a number of projects in South-East Bangalore (Sarjapur Road, Whitefield, Marathalli, Outer Ring Road) have been completed. With adequate supply in the mid-segment (1,200-1,600 sq ft), apartment rentals have stabilised and are expected to continue to remain the same.
North Bangalore is seeing a number of villa developments between Rs 1.2 - 2.5 crore. In South Bangalore, DLF is proposing an 85-acre residential project with 3,000 apartments, 1,200 rowhouses and around 300 independent houses.
Prices in and around the CBD have not increased in the last six months according to Cushman and Wakefield.
Cushman & Wakefield expects market conditions to be sluggish in the short to medium term. With the new Comprehensive Development Plan finalised, many developers are expected to apply for fresh sanctions of plans to avail higher FSIs. As a result some developers may delay launch of projects as the impact of new policies is awaited.
Click on the link below for a snapshot of Bangalore Property Prices and Bangalore Rental Values by area:
Residential Snapshot Bangalore - Sep 2007
By INRnews Correspondent
Comments
I don't think people are
getting it. A large chunk
of these home were being
bought by NRI's. When the
boom started the US dollar
was fetching 48 rupees, now
it is around 39. What does
that say? The home prices
must come down by 20%! All
IT companies are going to
suffer from appreciated
rupee and that will affect
hiring, salaries, bonus,
etc.
Another thing that is
difficult for Bangaloreans
to fathom is the concept
of bubble and bubble
bursting because they
have never experienced
it.
Just wait a few months
and see what happens to
the housing market.
Previous Article: « 150 acres of mill land sold in Kolkata | INRnews | Main | Mivtach Shamir to invest $13 million in Chennai real estate | INRnews »
The information is very useful. It tell us where bangalore realestate is going.
Previous Article: « 150 acres of mill land sold in Kolkata | INRnews | Main | Mivtach Shamir to invest $13 million in Chennai real estate | INRnews »