Bangalore, the most positive city in real estate sector in the country, posted a eye raising 19 pc hike in this quarter.

Bangalore’s property markets were largely driven by east and north Bangalore, due to high demand from IT professionals. With east Bangalore areas, such as Whitefield, Electronics City and ITPL with huge residential housing for sale and rental purposes, north Bangalore area are evolving after the international airport started here.

The main driver of the Garden city’s housing preferences was close to work place. The accessibility to workplace was a major issue.  In addition, infra elevations, safety and security and gated communities scored for the city. Social structures like educational institutions, hospitals, shopping hubs in the close place gave the city added advantage.

Infra upgrades played a huge part in the rise in value for the IT driven north Bangalore areas. Access to IT SEZs and other commercial spaces are in demand.

Supply and demand remained the same across the city with a preferred price of Rs 40-60 lakhs budget for the properties. In south and east Bangalore, there was marked choices for properties in the Rs 20-40 lakh range.

The true strength of any property market is when the rental market keeps pace with capital values. About 95 pc of locals tracked posted a rise in lease values. This indicates that the city is driven by end-users, not by investors.

IT-driven localities like Electronic city, Whitefield and Sarjapur has are well maintained localities with good transportation and community interaction, which surged the rental demand in these areas.

There are all facilities including water, power and all the basic amenities driven to rise the rental activities.