Bangalore has typically been an enduser driven market with moderate price appreciation leading to stability in the market, as well as minimal speculation.
Demand for residential units has been more evident in the mid-end category. In FY2012, Bengaluru witnessed the launch of approximately 9700 units which are scheduled to be completed in the next 2-3 years.
It has been observed that majority of the residential units launched during FY 2012 are concentrated towards the southern part of the city, particularly along Sarjapur Road. Developers such as LGCL, Shriram Properties, Shanders, Mahaveer and Confident Group have initiated their projects in South Bangalore. This region is followed by North Bangalore.
The western part of the city, however, did not see much residential activity in FY 2012. Not surprisingly, no residential projects were reported to have launched in the central part of the city in FY 2012.
What is the Budget of Apartment Buyers in Bangalore ?
On the pricing front, nearly 39% of the total number of residential units launched in FY 2012 fall under the INR 2.5-5 million ticket size category, thereby emphasizing the acknowledgment of developers towards the fact that customers in the mid-end segment are the prime demand drivers of residential market in the city.
Residential units with ticket size ranging between INR 2.5-7.5 million were altogether responsible for around 70% of the total number of units launched during FY 2012.
What about Affordable Housing in Bangalore ?
Ticket size of the Apartment is less than Rs 25 Lakh is bare minimum in the Bengaluru Residential Market.
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