Although the real estate market in India is struggling from past few years still Bangalore some how able to manage a steady growth rate of 3%-4%. However few locations like Mysore road, Bannerghatta Road, Magadi, Chandapura and Kengiri has shown some good appreciation in their property value. The factor which are influencing these growth are the most awaited namma metro projects and the six lane highway express connecting Mysore and Bangalore.
Despite of these year new job aspirants are heading to Bangalore for making their career in IT so there is a huge demand of rental business in Bangalore. so places Like Hebbal near manyata tech park, and Banashankari are best for rental Business.
Now, Bangalore’ would always remain a good market due to the preference of IT companies who would certainly make this place as their destination.
No market according to me is good oris our thought process and how well we handle a phase which is in all industry.
As we have all studied that every product has an introduction,Growth,maturity and then decline……and our industry has reached maturity stage…and revival is on cards.
When we talk about real estate is includes office/mall leasing…selling of plots and apartments.
Transactions have taken place for office space leasing as well as for the affordable housing where transactions are taking place.
Also with the introduction of GST as well as RERA, and banks lowering the interest rate on home loans overall market has improved and this is purely because buyers feel a sense of security.
Same must have happened in Bangalore .
Percentage wise there has been a growth in sales in affordable housing(Will share details later)
I still believe that Mantri Group or Prestige Group and other reputed builders have always maintained transparency in their dealing which must have won the trust of people in Bangalore.
I just want to add something.Maybe you agree or not and would slightly deviate from your question.
MARKET WAS NEVER …WE DID MISTAKE..Now there is a reason to this.
a)To many developers who were once a broker and their inexperience to delver the end product.This was because of cheap land which they got from authorities and this was because of hand and gloves(U KNOW WHAT I MEAN) from both sides.
b)Customers just wanted their end product…which most of builders failed.If they would have simultaneously done the construction supply would have maintained and the market would have surely gone up.
There are developers who are still launching their inventory and would be surely in the case of Bangalore.
Just remember one thing.
Real estate if invested wisely will always give you profit.
Sorry,if I have given an overall market review…but his is implied to any city..be it BANGALORE,PUNE GURGAON,NOIDA,MUMBAI.