Bengaluru Sheds Maximum Unsold Stock In A Year, Report

Bengaluru Sheds Maximum Unsold Stock In A Year, Report

At the time when various real estate companies are facing complaints against non-delivery of projects as per dates, Bengaluru’s real estate market has outperformed other cities in reducing the load of their unsold inventory. According to the reports presented by ANAROCK Property Consultants, the city has witnessed a tremendous reduction of about 25 percent in unsold stock across other cities. Indeed, the report talks about the real estate trends followed by Bengaluru in the residential category since 2013. This added to the factoring of city’s growth in terms of transport, infrastructure and connectivity.

 Taking note of the immense challenges faced by the city on infrastructural front, preference for the developed areas with walking distance from their residence has got notified. In fact, people want that their home should be in close proximity to their work place; so that they do not have to waste time in commuting. It is because of this thing that the market drivers have contributed towards immense development in Bengaluru. In this regard, Anuj Puri of ANAROCK Property Consultants has said that the zest to create cutting-edge commercial infrastructure and authenticated property rates has added to the extensive growth of real estate market in Bengaluru.

The effective economic dynamo of IT/ITeS has been behind most of the city's surging residential demand as well as supply. Certainly known, sales of the housing units have remained well regardless of all macroeconomic twists. Another thing to checkout is that Bengaluru's housing sales amplified by 26% in Q3 2018 at the same period even in last year. On an overall basis, the unsold stock dropped by 32% and stuck at 76,550 units in Q3 2018, which was quite contrasting to 1,12,995 units in Q3 2015. This has enabled people to get the best of infrastructure facilities from the prominent developers in Bengaluru.

Ideally stating, the report talks about the mounting growth of real estate in Bengaluru because the developers are set to deliver as per the concept of walk-to-work. It has managed to gain excellent foothold in the metro city because of the availability of larger land areas. Indeed, mixed-use townships are getting developed to cater to the need in the city. Also, the eastern and southern parts of Bengaluru have witnessed tremendous growth in terms of project development. Inspite of all this, the mid-level home buying segments falling in the category of 40 to 80 Lakh has been dominantly famous.

 

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