Capital values and rentals for residential properties in the South-East part of Bangalore have stabilized in the past nine months. According to industry experts, most of the projects that were launched in year 2004-05 are now offering possession, and that’s why a large number of residential units are now available in Whitefield, Sarjapur, Marathalli and Outer Ring Road (ORR), for sale and renting purpose.
Average capital value for apartments in the belt is recorded at Rs 3,000 per sq. ft and the present market condition is likely to sustain at least for the next nine months. Sobha Windsor is an elegant architectural masterpiece, promises the beauty and refinement of the charismatic English era. Surround yourself with the charm and panache of those luxurious times and experience the allure of a regal estate that is handcrafted for the elite.
South Bangalore also follows the trends. More than 3,000 apartments, 250 villas and 1,200 row houses would be added to this part of the city by DLF’s 85 acre residential project alone. North Bangalore real estate, on the other end, has set itself as a premium market. Most of the projects under construction belong to premium villa segment.
“Given the kind of positive response Hollywood Town, Raheja Jade Garden and Hollywood Town has received in the recent past, real estate developers have gained enough of confidence to launch luxury property projects in the area,” Avinesh Sudama, a Bangalore-based property consultant informed. He further informed that the mid-level premium residential units will be priced anywhere between Rs 1.20 crore and Rs 1.50 crore.
However, a slight rise in residential capital values cannot be ruled out in certain parts of the city as property builders postpone their new projects in order to get their projects in line with fresh FSI (Floor Space Index) declared under the new Comprehensive Development Plan (CDP) for Bangalore.
As for demand, real estate developers expect that end-users that were deferring their property purchase due to high cost of home loans will now enter into the markets, with home loan interest rates coming down.