Bangalore Realty Set to Soar
Here are a few trends that can influence real estate to soar in 2013;
Economy; With inflation worries easing out, interest rates are expected to witness a correction of over 100 basis points which can result in a 1% drop in home loan lending rates from Banks. This can increase a demand for real estate assets.
Policies; Few policies to look at in 2013 are Real estate regulation bill, real estate mutual funds and real estate investment trusts. These can pump in more funds in the market and the RER bill can be a win-win for builders and consumers.
Infrastructure; The Karnataka state government has released over ₹ 16 billion to BBMP for several infra structural projects. These funds will be spent on signal-free corridors, development of roads, multi storey parking near metro's, grade separators, rejuvenation of lakes etc.
In 2013, north Bangalore will continue to grow as a business hub with well connectivity. Projects on outer ring road and Sarjapur road are expected to be completed and will see incremental sales because of the preference for ready to occupy projects by end users. The close proximity to IT corridors will also be a contributing factor. Whitefield will not lose any of its sheen as the market drivers are economic rentals with healthy demand. North and East Bangalore have several aspects going for them, in terms of availability of land, great infrastructure and several office spaces coming up.
Potential emerging neighborhoods in 2013 can be Tumkur road and Kanakpura road. These areas have seen benefits by metro connectivity plans, establishment of NICE road and availability of cauvery water in Kanakpura road.
Bangalore Real Estate News
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- Bangalore Stands 2nd for Commercial Investment
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- Century to Build Walmart Store Near Hebbal
- Godrej Properties Enters Whitefield
- Honeywell Seals Biggest Office Leasing Deal
- Sahara Buys 25 acre Plot at Whitefield
- Will Real Estate Follow the Gold Crash…?
- Over Supply of Retail Space Hits South India