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Supply + Absorption in Bangalore Residential Market

Saturday, June 02, 2012

Residential Realty Supply in Bangalore
As of March 2012, nearly 119000 residential units are under various stages of construction in the Bangalore market. About 35% of the upcoming supply in Bangalore is expected to be ready for possession by end of CY 2012.

The micro-market of Sarjapur Road shall contribute 31% to the total upcoming supply in the southern region, while another emerging micro-market Kanakapura Road shall be responsible for around 16%. [Both do not have Water Supply and are dependent on tankers] North Bangalore, meanwhile, will contribute 21% to the total upcoming residential supply in Bangalore, followed by the eastern region with 15% and West
Bangalore with 10%.

Central Bangalore understandably has presence only in the higher end of the ticket size split, mainly in the INR 40-80 million ticket size due to the dearth of developable space in the region.

Overall Bangalore residential market has been relatively resilient and has a somewhat healthy sales level.

Absorption
60% of their units under development have been sold. The sharpest decline in absorption level was witnessed by the southern and northern micro-market of the city. Central Bangalore was not impacted by any external factor and witnessed steady growth in absorption.

It has been observed that nearly 34% of the absorption in FY 2012 has been in the ticket size range of INR 2.5-5 million, followed by the ticket size of INR 5-7.5 million at 31%. Only 5% of the absorption has taken place in the INR 20-40 million ticket size.

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