Sluggish Demand for Residences in Budigere Cross
Budigere cross has been hyped with residential demand with major builders launching massive projects recently. This was primarily due to low cost of land to major builders. Budigere cross being on the NH4 highway was once attractive to major builders. This demand has been suppressed due to stable demand on Sarjapur road, ORR and North Bangalore.
Karnataka government has projected Narasapura as an auto hub with major players. Hoskote too has seen major industrial development. This is good news for creating more jobs and opportunities.
However, none of the IT companies have decided to buy or lease land on the old madras road stretch. This has been a major setback for many builders. There has been sluggish demand for residences on this stretch and the focus has moved to north Bangalore.
Now, major builders have launched massive promotions to book a home and pay nothing till possession. Few luxury projects were priced at 1.1 crores in 2011 and even now the apartments are offered for 1.2 crores. There has been sluggish sales with most of the projects in Budigere cross. Many builders have launched promotions to book a home now and pay nothing till possession.
Exotica was launched in 2010 with a price of 3990 and even in 2014 the price hasn't appreciated much. Shriram Properties have launched Greenfield in 2014 with a price of 3300 PSF. This project is planned to supply another 2000 units in the next 3 years.
We recommend customers to be cautious and not to fall for lower prices.
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