A strong business environment, an increase in warehousing and industrial needs, commercial housing requirements as migration grows, the opening of manufacturing facilities, and other factors may all contribute to this trend.
Between March 2023 and March 2024, the number of construction and real estate employees increased by 86%. According to Indeed, the surge in demand has been accompanied by a 57% increase in job seekers’ interest, with Delhi, Bengaluru, and Mumbai leading the way.
According to Indeed Data, Delhi had the highest construction hiring rate, at 5.05 percent, followed by Bengaluru (4.68 percent) and Mumbai (4.13 percent). A strong business environment, an upsurge in warehousing and industrial needs, increased commercial housing requirements as migration rises, the opening of manufacturing facilities, and other factors could all contribute to this trend.
“Smaller cities such as Ernakulum (2%), Kochi (1.50%), Lucknow (1.38%), and Calicut (1.25%) are among the top regions attracting job seekers’ attention. This trend could be attributed to low living costs or local job opportunities that allow people to work closer to home. Indeed lists Ernakulum, Calicut, and Kochi as Tier 2 and 3 cities with the most job postings.
Engineers (17.18 percent), project leads and supervisors (8 percent), and architects (5 percent) are the most popular job roles, according to job postings. In line with demand, job seekers are interested in engineers (21.31 percent), project leads and supervisors (9.33 percent), and architects (4.27 percent). As construction becomes more complex and technical, the industry requires more skilled workers.
According to the findings, Sashi Kumar, head of sales at Indeed India, stated, “The construction industry continues to be a key driver of economic growth, providing enormous opportunities for skilled professionals and semi-skilled labor. The significant increase in hiring points to promising prospects for job seekers and employers, while the increase in job seeker interest reflects the industry’s strong momentum.”
However, residential sales worth Rs 1 crore and more in the top 8 cities including Bengaluru— rose 40% from the same quarter last year.
According to real estate consulting firm Knight Frank, Bengaluru’s housing sales fell to 13,133 units in the first quarter of 2024, a 2 percent decrease from the previous year.
The affordable housing market saw a steep decline, which was the cause of this decline. “This is primarily because the housing market selling for less than Rs 50 lakh saw a drop in sales in Q1, nearly 68 percent.
On the other hand, sales of tickets priced above Rs 1 crore have increased the most, with the Rs 50 lakh –Rs 1 crore segment growing by 8%,” stated Vivek Rathi, head of research at Knight Frank India, on April 4.
Housing sales in Bengaluru have declined over the last few quarters, and buyers are reevaluating their plans in light of the ongoing water crisis caused by unplanned development in the tech city.
Sales of 26,247 units in the first half of 2023 saw a further 2 percent decline in the city. According to earlier reports, the city’s sales increased by 1% overall in 2023 to 54,046 units.
According to Moneycontrol, investors considering purchasing real estate in the city have put off their purchases because there are dry spots in many areas, particularly those near the IT corridors.
Similar to the same time frame in 2016, office leasing in the city stayed steady at 3.5 million square feet (MSF) in the first quarter. Officing leasing fell 19 percent to 5.5 million square feet in the second half of 2023. The city saw a 14% decrease in office space transactions overall in 2023.
According to the Knight Frank India report, the percentage of sales in units priced at Rs 50 lakh and below decreased by 10% to 23,026 units from the same period last year across the top 8 cities.
The persistent negative effects of the pandemic on this industry, alongside rising prices and higher home loan rates, had suppressed demand.
In contrast to the identical period in 2017, the Rs 1 crore and above segment saw a notable 40% growth in the first quarter. Sales of homes in the Rs 50 lakh to Rs 1 crore segment fell by 6% as buyers’ attention was diverted to the more expensive range.
The eight largest cities are Bengaluru, Pune, Ahmedabad, Delhi-NCR, Chennai, Hyderabad, Kolkata, and Hyderabad.
Mumbai comes in first place.
Mumbai with 23, 743 units sold in the January-March period, a 17 percent increase over the previous year, had the highest sales and annual growth among the eight cities.
A 259 percent increase in sales of units costing more than Rs 1 crore was the primary driver of the upsurge. During the quarter, sales increased by 15% in Hyderabad and 14% in Pune.
In the eight cities, 93,254 residential units were introduced during the quarter, an increase of 7% from the last year. With a record 6,021 launches, Kolkata saw the most, 89 percent more than the previous year.
With a 13 percent growth to 10,527 units, Mumbai saw the largest growth in the affordable segment. Together, Pune (5,399), Mumbai (5,815), and Bengaluru (6,065) accounted for over 60% of sales in the Rs 50 lakh– Rs 1 crore.
Envision residing in a community that approaches sustainable living! Enter Nandi Meraki, where a tranquil 14-acre lake and 60% green space may await your ideal home. Beyond its picturesque surroundings, the project has several environmentally friendly features, including a waste management system and a state-of-the-art solar power generating plant. Let us investigate its features and USPs in more detail.
Due to its advantageous location, Bannerghatta Road is a well-liked residential area for Bangalore’s end users and investors. It is close to Jigani and Electronic City, two South Bangalore commercial, industrial, and IT hotspots. This urban pocket’s solid social network, which consists of multiple schools, hospitals, and shopping malls, is another noteworthy feature.
Additionally, Bannerghatta Road’s investment potential will only increase with the completion of the metro. Many well-known and up-and-coming developers are considering this site to start their projects because of these businesses and advances in these establishments and developments. One such developer is Nandi Housing, which recently opened Nandi Meraki, a new housing development on Bannerghatta Road. Continue reading this article to learn more about the vital aspects of this project, including the cost, features, and local highlights.
An overview of the project for Nandi Meraki on Bannerghatta Road in Bangalore
Nandi Meraki is a low-rise housing project with four stories along Bannerghatta Road in Tejaswani Nagar. It covers eight acres in total. About 60% of this project is every nature lover’s dream. In total, Nandi Meraki consists of four towers with 444 apartments in 1-bedroom, 2-bedroom, 2.5-bedroom, and 3-bedroom configurations, and Meraki’s registration number is PRM/KA/RERA/1251/310/PR/311222/005573, and it is on file with Karnataka RERA.
Bangalore’s Nandi Meraki on Bannerghatta Road: Highlights of the project
Gazing upon 14-acre lake
400 KW solar power installation on a rooftop
Supported by centralized heat pumps driven by solar energy
Presence of 7,00,000 liter rainwater harvesting tanks
Composter to process organic waste quickly
Ensure maximum recycling with well-planned waste segregation systems.
Bangalore’s Nandi Meraki along Bannerghatta Road: Property options and costs
Nandi Meraki is a four-story building with residential apartments ranging from 1 BHK to 3 BHK. The project’s properties have a starting price of Rs 70 lakh and a maximum pricing of Rs 1.78 crore. The configuration-wise pricing details of the Nandi Meraki units appear in the following table:
Prices and options for properties
Setups
Extremely congested area
Cost
1-BHK
715 sq ft
Rs 70 lakh
2-BHK
1075 sq ft
Rs 1.05 crore
2.5 BHK
1590 sq ft
Rs 1.56 crore
3-BHK
1660-1820 sq ft
Rs 1.63-1.78 crore
Bangalore’s Nandi Meraki on Bannerghatta Road: Payment schedule
Interested parties may reserve a unit at Nandi Meraki using a payment plan linked to the construction. The remaining amount of the flat cost is due upon completion of the various slabs/stages of the project. The payment plan stipulates that Rs 50,000 will be the booking amount.
Bangalore’s Nandi Meraki on Bannerghatta Road: Facilities
More than 60 amenities are available at Nandi Meraki, combining well-being with ease of use. Several of the project’s notable amenities include:
Fitness and Health
Social Spaces
Temperature-controlled swimming pool
The Pavilion
Squash court
The studio
Gym
Herbal Garden Area
Pet Parks
Mini Theatre
Sand bed walkway
Lake viewing decks
Reflexology walkway
Library
Lotus Reflection Pond
Senior citizen deck
Children play area
Semi Outdoor Workspaces
Highlights of Nandi Meraki along Bannerghatta Road, Bangalore
Nandi Meraki is found on Bannerghatta Road in Tejaswini Nagar. Homebuyers like it because of its proximity to employment hubs like Electronic City and Jigani Industrial Area, which are within ten kilometers of Bannerghatta Road. Because Bannerghatta Road is so close to these job centers, it is a popular rental area in South Bangalore.
Bannerghatta Road, Bangalore: Connectivity
A crucial route along Bannerghatta Road, a section of SH-87, connects to several locations in South Bangalore. Near Nandi Meraki on Bannerghatta Road, NICE Road Roas is another vital connecting route. The following highlights the project’s distance from a few significant connectivity nodes:
Ballery Road connects Kempegowda International Airport to the project site 49 km away.
Nearby NH-48 provides residents with smooth inter-city connectivity.
In South Western, KSR Bengaluru is the closest train station, roughly 18 kilometers away.
Bangalore’s Bannerghatta Road: Cost trends
Most homes along Bannerghatta Road, a mid-segment housing belt in South Bangalore, are apartments, plots, and villas. The neighborhood has a limited supply of two-bedroom dwellings. There is also a high demand for three-bedroom options. In Bannerghatta Road, the average cost of a property is Rs 6,200 per square foot. The following table shows that over the past five years, the region’s property rates have grown at a respectable rate:
Bannerghatta Road Property Price Appreciation
Average Cost
Past three years
Past five years
Rs 6,200 per sq ft
15%
25%
Bangalore’s Bannerghatta Road: A possible investment
In addition to its popularity with end users, Bannerghatta Road is a possible residential hotspot for investors. A few significant projects planned along the route would raise living standards and drive up real estate values. Following the announcement of these infrastructure initiatives:
The ongoing construction of Namma Metro’s Pink Line will facilitate access to the metro for residents living near Bannerghatta Road. Kalena Agrahara is three kilometers away.
The Bangalore Suburban Railway’s future Kanaka Line would connect at Huskur, 14 km away. Finalizing this railway line will improve the connection between Bangalore’s north and south.
The projected growth in infrastructure presents the possibility of a spike in property prices along Bannerghatta Road. Nandi Meraki would be a good option if you could be an excellent investor in a project in this area. To make an informed choice, a buyer plans several site visits to verify the projects’ development status and perform in-depth market research.
You can choose from numerous service apartments in Indiranagar, Bangalore, to find one that meets your needs. The most desirable areas are close to public services like stores, markets, and dining establishments. For maximum comfort, they have modern and contemporary furniture. Our service apartments in Bangalore offer excellent service, hotel-like amenities at affordable prices, and a homey environment where you can anticipate a relaxing and enjoyable stay. Premium Serviced apartments are available in Indiranagar, Bangalore.
Local Information
Indiranagar, a prestigious residential area in East Bangalore, is bordered by Ulsoor, Domlur, Byappanahalli, and Vimanpura. Built as a residential district and divided into two stages as a BDA Layout in the 1980s. It is primarily a multiethnic and global region. The software explosion of the 1990s set off a wave of commercialization that has continued unabated to this day. One of the busiest retail and restaurant streets nationwide is now 100 feet road and 12th Main. It has since developed into one of India’s top centers for food and drink. In addition to numerous cafes, coffee shops, microbreweries, and gastropubs, Indiranagar has over 90 restaurants serving a variety of cuisines.
Transport
Due to the service apartment’s location on the congested 1st Main Road, cabs and auto rickshaws are easily accessible. Trinity Bus Stop, which is just 2.6 kilometers away and served by BMTC, is the closest. From our serviced apartments in Bangalore’s Indiranagar, you can travel comfortably to any part of the city. Bangalore Railway Station is 9.2 kilometers away, and Indiranagar Metro Station is 1.8 kilometers away from each other. The distance to Bangalore International Airport’s domestic and International flights is 40 kilometers. Bellary Road or NH 44 are two routes from the airport to get serviced apartments in Indiranagar, Bangalore.
Properties
Elegant serviced residences can be found in Indianagar The living room, which is close to the kitchenette and the luxurious bedding, has a nice amount of lighting. split air conditioning, an LCD TV, and a chic wardrobe. light air conditioning. High-speed internet with Wi-Fi is available.
Whitefield, a prominent area in Bangalore, India, is known for its IT parks, commercial centers, and residential developments. It has grown significantly in recent years, meaning service apartments are available in the area. Service apartments provide fully furnished accommodations with hotel-like amenities and services but with the added convenience of a home-like amenities and services but with the added convenience of a home-like environment.
Factors to Consider
Consider factors such as location, proximity to desired amenities or workplaces, the reputation of the service provider, available facilities and services, pricing, and terms of stay when choosing a service apartment in Whitefield, Bangalore.
Location: Whitefield lies in the eastern part of Bangalore. It is known as the city’s IT corridor. It lies easily near major IT parks, commercial centers, shopping malls, and entertainment venues. Whitefield service apartments are typically located near these areas, making them convenient for professionals and travelers.
Amenities: Whitefield service apartments provide a comfortable and self-sufficient stay. They are fully furnished and include amenities like air conditioning, Wi-Fi, television, a kitchenette or full kitchen, laundry services, and housekeeping. Some service apartments also provide additional facilities like gymnasiums, swimming pools, parking, and 24-hour security.
Service apartments are known for their flexibility in terms of stay duration. They can be rented for short-term stays of a few days to several weeks or months, making them ideal for business travelers, tourists, or individuals seeking temporary housing. Some service apartments also provide long-term rental options for those who need to stay for an extended period.
Service apartments in Whitefield vary in price depending on location size, amenities, and length of stay. Service apartments, in general, are a more cost-effective alternative to hotels, especially for more, because they offer more space and amenities at a lower price.
Booking and Management: Whitefield service apartments can be reserved directly from the service apartment providers or through online platforms and booking websites. Professional property management companies manage some service apartments, while others are owned and operated by individual property owners.
To find one that fits your preferences and budget, you must investigate and compare different service apartments in terms of pricing, reviews, and available services. Reading customer reviews and ratings can provide insight into the quality and dependability of the service flat service provider.
What do you believe defines a luxurious apartment? Is there enough room? Or is it the presence of welcoming amenities ready to serve you? In most cases, rentals don’t include all of these amenities, do they? Consider again! Because service apartments offer all of the best amenities and more! The million-dollar question is, what exactly is a Service apartment?
What is a serviced Apartment?
A serviced apartment is a fully furnished apartment that includes a variety of amenities, such as daily use facilities, regular housekeeping services, and so on, all of which are part of the rental cost. Depending on your requirements, these can serve you in the long or short term. As a result, these apartments offer their residents a full-fledged experience.
HSR Layout, Bangalore
HSR Layout, formerly Hosur-Sarjapur Road Layout, is a bustling South Bengaluru suburb known for housing several top Indian startups. These include Udaan, MyGate, WhatFix, Cure Fit, and many more examples. As a result, it has evolved into a modern living space. Eateries, good schools, great offices to work in, a street for all your shopping needs – name it, and you have it.
Because of these features and its proximity to Koramangala, Sarjapur Road, and Indiranagar, properties in the HSR Layout are highly profitable and always in high demand, particularly among IT professionals working in startups.
The difference between Service Apartments and a Hotel in HSR Layout, Bangalore
Service
Serviced Apartment
Hotel
Area
There is plenty of space and extra rooms available.
A limited amount of space and rooms.
Price
Longer stays are less expensive in a serviced apartment.
Costly for an extended period of stay.
Food
The kitchen is yours to use.
No means of cooking for yourself.
Culture
It provides a rich cultural experience.
The majority of hotels are identical to other
Freedom
Offering vital conveniences ensures comfort and freedom
The lack of space and amenities limits freedom.
Benefits of Living in a Serviced Apartment in HSR Layout, Bangalore
Knowing what a serviced apartment is has several advantages. Here are the top nine reasons to choose a serviced apartment.
It feels like home.
A serviced apartment’s various amenities and facilities give it a homely feel. This sense of comfort is frequently lacking in hotels with no taste or personability.
Concierge services
While hotels provide concierge services, those given by serviced apartments can help you navigate the region and have local knowledge to help you get the most out of your stay. Serviced apartments allow you to immerse yourself in the location and culture.
Fully equipped kitchen
In serviced apartments, you can even cook your food instead of relying on eating out every day. In serviced apartments, cooking necessities such as cooktops and utensils are available.
Live your life as you please.
The various concierge services allow you to personalize your stay. Thus, understanding what a serviced apartment is enables you to prioritize your comfort above all else.
Ensured privacy
The spaciousness of the serviced apartments allows you to host parties or get-togethers in the privacy of your own home.
Cost-effective
Long-term hotel stays can be very costly. You can enjoy comfort and luxury at a much lower cost once you understand what a serviced apartment is.
Secured apartments provide you and your belongings with 24-hour CCTV surveillance and security guards.
Housekeeping services
Don’t worry about the cleanliness of the apartment if you are on vacation or tired from work. Housekeeping services are available regularly to keep your apartment clean and sanitary.
Opulent furnishings
Enjoy first-rate furnishings that combine comfort and culture.
Where Can I Find the Perfect Serviced Apartment for Me?
Booking through an agent ensures that you have the widest selection of serviced apartments to pick from. I hope this blog helps you understand “What is a Serviced Apartment?” You can search online and find the best-serviced apartments in HSR Layout.
Sarajpur Road is a burgeoning real estate district with numerous development projects. It has one of the finest residences with excellent amenities and connectivity and is the ideal location for property investment.
Sarajpur Road is located in the city’s southeast and has excellent physical infrastructure. It lies quickly near the HSR layout, Electronic City, IT hubs, and Hosur Road. It runs through the Outer Ring Road from Koramangala to Whitefield. Sarajpur has links to NH-44 and other towns like Bella.
Sarajpur’s real estate market is rapidly expanding, and the physical infrastructure is excellent, connecting it to other cities and IT hubs. It connects to other major roads in the city, including the Outer Ring Road and Hosur Road.
The currently under-construction Metro Line will improve connectivity in this area. The Namma Metro Phase 2A line will run through east Sarajpur Road, with a station at Iblur. 2023 will mark the completion of the metro line.
Sarajpur Road is about 45 kilometers from Kempegowda International Airport. Sarajpur’s international airport is 90 minutes away by car.
Popular areas in this belt include:
Madiwala: This region is in great demand for affordable residential property. Due to its excellent connectivity with the Outer Ring Road and Hosur Road and its numerous commercial and retail establishments, the market for budget housing has flourished.
Electronic City: Electronic is another well-known locality that has benefited greatly from easy connectivity and is well-planned in phases. This area also has several educational institutions.
Whitefield: This area has seen property prices and infrastructure developments, primarily in the mid-range category; luxury homes are also available here.
Koramangala: This area is rapidly developing and has affordable and mid-range housing options.
Reasons to Purchase Sarjapur Road Apartments
The increased demand for apartments on Sarjapur Road is due to the benefits of connectivity that it provides to its residents. Here are some of the key connectivity drivers:
It is linked to commercial hubs such as Koramangala and Bannerghatta by radial roads.
The Hosur Road is easily accessible.
The NIICE Road and the Outer Ring Road are both very accessible.
Bangalore University Road is also easily accessible.
Employment opportunities near Sarjapur Road
Here are some of the major employment centers in the area:
Here is the Infosys SEZ Tech Park.
Wipro’s corporate headquarters sits here.
Electronic City lies 28 Kilometers away.
Mysore Road is 16 kilometers long.
The BMIC corridor.
Sarjapur Road’s physical infrastructure:
Sarjapur Road’s real estate market will expand further as a result of several planned infrastructure developments, including:
Ring Road on the Periphery.
An elevated expressway is on the table.
Another reason to buy an apartment for sale on Sarjapur Road is that comparable to IT corporate offices, social infrastructure is a major growth engine.
Indus International School, Oakridge International School, Silver Oaks International School, and Inventure Academy are among the educational institutions.
Market Square Mall, Total Mall, Forum Mall, Gopalan Innovation Mall, Garuda Shopping Mall, Bangalore Central Mall, One MG Road Mall, and many more are available for shopping.
Dr.Levine Memorial Hospital, Motherhood Hospital, Janani Hospital, and Punarjani Ayurveda Hospital are all Hospitals.
Octave Hotel & Spa, Treebo Orchard Greens, The Ritz-Carlton, The Leela Palace, and Hotel Ibis provide hospitality.
PVR Cinemas Forum Mall, Gopalan Cinemas Innovation Mall, and Galaxy Paradise Theatre provide entertainment and recreation.
Restaurants include The Black Pearl, Fisherman’s Wharf, and many others.
Property Types in Sarjapur
Other kinds of real estate are available, such as apartments/flats, villas, and plots, and popular types of property are two and 3-BHK apartments.
1-BHK apartments range in size from 400 to 800 square feet. 2-BHK units range from 700 to 1635 square feet, 3-BHK in sizes ranging from 970 to 2200 sq. ft.
The most popular apartments for sale are 2 and 3 BHK multi-purpose apartments in 1000 to 2000 Sq.Ft.
A 3-BHK Multi-Purpose Apartment in 1400 to 2,000 Sq.Ft. is in high demand for rent.
Rent:
A minimum 1-BHK residential apartment of 275 sq. ft. is necessary for an average of Rs 6,000.
On average, a maximum 4 BHK Villa of 6,500 sq. ft. costs Rs. 2,30,000.
Considering the area’s future growth potential, purchasing your dream home in this part of Bengaluru could be the right choice. There is a plentiful supply of housing apartments in this region, and the metro line and other infrastructure developments will likely result in a healthy increase in property values. The property market in this region will remain strong, and it is also a good investment opportunity.
The main selling points are connectivity, access to social infrastructure, and competitive rates. Prospective home buyers may be disappointed with the slow pace of infrastructure development in this part of town and poor road maintenance. Traffic congestion is also a persistent issue during peak hours, but this will likely improve with the upcoming developments.
Interestingly, the biggest coincidence that can be seen in all metro cities is the fact that in all of these, the southern part of the city experience major development and is always considered as the posh regions. The new flats for sale in Bangalore, especially in the south region are most popularly seen in Kanakpura Road. These flats are mostly in demand by the young professionals working here. However, the demand is not so great here when it comes to 3BHK Flats. The basic demand seen for 3BHK Flats in Southern Bangalore is seen in Whitefield and Electronic city. Southern Bangalore was the first part of the city which was established and is thus the most developed and has reached its saturation. The reason people tend to favour this place is the amazing connectivity with the electronic city via NICE Ring road. The infrastructure is well developed and has high growth potential in terms of real estate if you are looking to buy a property in Bangalore. The area has close proximity to office areas and offers and chilled out the environment.
Also, the east of Bangalore also experiences high demands in residential apartments. The areas like Brookefield, CV Raman Nagar, ITPL, KR Puram and Whitefield offers a lot of 2BHK Apartments which are ideal for you and your family’s needs. These flats are mostly preferred by high-end individuals, mostly the people working in the vicinity. Thus, both these areas are ideal for you if you need to settle in Bangalore with a lavish upfront.
The increasing commercial demand in the vicinity of West Bangalore is asking the residential sector to grow and lead the city to a better place.
The Mumbai-Bangalore Industrial Corridor, Greater Peenya Industrial Area, proposed Peripheral Ring Road (PRR) Metro Rail connectivity, Dabaspet Industrial Area, integrated townships along the NICE corridor, all these factors make the west of the city an investment destination. The plots in Bangalore in this region is owned by automotive parts, manufacturing, electrical, electroplating, pharmaceutical, chemical, electronics, building materials, aerospace components, garments, castings, forgings, foundries, and scientific instruments industries.
The whole area is well connected to the plunged road built over Peenya international airport, in the Mysore road. It is also connected to NICE corridor as well as the metro rail network.The well established and renowned market of Yeshwanthpur having a micro market with healthcare, retail and other public infrastructure gives a major push to people to come and live here.
Shrinivas Rao, CEO of APAC, Vestian Global services stated that the major factors that increase the rates of property in Bangalore are the presence of economic complexes and industrial sectors with the perfect physical infrastructure and amazing connectivity with all public convenience nearby. It has been noted that after 2008 this western area of Bangalore was influenced by a major hike in IT and ITeS companies which came and set up their base here. These industrial areas included Kumbalgodu and Bidadi which resulted in their nearby localities like Kengeri to become a popular residential choice for those who are employed in this area or the vicinity. According to reports and databases, Kumbalgodu Industrial Area, Bidadi Industrial Area and Global village IT park, together holds a total number of 80,000 employees. Also, after the rapid metro connectivity in this region, it has become very easy for people to travel and save their working hours. With all these factors in hand, the fact that region is well connected to the NICE Road, Outer Ring Road and Tumkur Road gives the place an additional advantage to grow more property in Bangalore west.
Currently, the development that is being done in this region comprises of apartment projects and plots in Bangalore West. The Kengari residential sectors incorporate a large scale of apartment projects and townships in the mid segment value people. It is thus expected that the annual residential sale growth in this region is 6-8 percent while the rental yeild will be 4 percent.
Stop worrying more about investing in a building or a land or any property in Bangalore specially those which are close to lakebeds.
The properties owned by builders near these lakebeds were told not to construct their builders as the National Green Tribunal, in an passed order on May 2016 clearly increased the buffer zone of the lakebeds from 30 metres to 75 metres and announced that no construction will be done around the 75 metres zone of the lakebeds. However, now the BBMP has given out a sigh of happiness. They have clarified that those projects which recieved their contrsution approval before May 2016 can resume their construction. These will be only applicable to those who got licened before the NGT order arrived.
BBmp recently issued a circular on 30th March 2017 which came out with the green signal for the buiilders. Commissioner N Manjunath Prasad ordered that the NGT directive will be now not be applicable for site and properties which already secured their plan before the Green Court came out with their new orders and restrictions. This implementation sent to all eight zonal heads has brought out a relief to the real estate sector and is expected to grow the market as well with the increased rates in such locations.
Now the builders are excited and are offering new deals in their flats in Bangalore lakebeds. These areas are now more costlier than ever. The serenity of the lakebeds of Bangalore has always been an ideal place for all the segments of the society and is much desired specially by old people who plan on living their old age in a wonderful environment as same.
Not only flats, but some builders are now planning on moving to lake house projects. They are now applying for permissions for their beautiful projects from the NGT and are expecting great revenues for the real estate market.
To manage Bangalore’s reputation of the country’s famous IT Hub, the BBMP has come out with a new rule which will be in favor of the technology. To ease the builders who own and want to convert them into a building for residential or office use, the procedure for getting the plan approvals will be done online. This was cut straight to chase the builders won’t have to run to post to seek clarifications. For this work, new executive engineers will be assigned the work of approvals. They will collectively work with zonal town planning officers.
This will be done in lieu of the latest E-Khata system announced in the BBMP budget on Saturday which said to enable the citizens to upload all the required documents and to avail their khatas online itself. Apart from this, the property tax collection which needs to be done will be carried forward by the geographic information system (GIS) in a collection with the Indian Space Research Organisation, according to the chairman of BBMP standing committee, MK Gunashekar (finance and taxation).
A digital survey of the whole Bangalore real estate will be carried out which will include tech parks, malls, and other commercial establishments, as well as the residential market of Bangalore, will be minutely undertaken to ensure accurate evaluation of property tax.
With the high increase in commercial activity in North Banglore region, the demand for residential sector also gets affected. New residential projects are being launched in this area which comprises of both apartments and Luxuroy homes (villas).
Bengaluru provides flats for sale in affordabe prices. The development in this area offers residential spaces for all three budgets; premium, mid range and luxury. Areas like Thanisandra, Yelahanka Doddaballapur, location near airport offers mig segment housing to its buyrers whereas, for luxury living one has to look for available in and arond Hennur Road, Kogilu, and some parts of Thanisandra.
New flats for sale in Hebbal-Yelahanka stretch of Bellary Road, which includes Hebbal and RMV II Stage has luxury apartments in the price range of Rs 8,000-12,000 per sqft. The areas situated beyond Devanahalli till Doddaballapur is very popular as it comprises of a large variety of high-end villa projects and also, plot development projects. The price here ranges between Rs 6,800-12,000 per sqft accumuating an area range of 2,500-7000sqft.
Meanwhile, the plot development projects in this area ranges from Rs 2,150 to 4,000 per sqft. Plots as well as luxury flats in this region are mostly preffered by high net worth individuals and investors due to their ability to serve as good holiday or retirement second home options. Apartments towards Nandi Hills Road are looked at with a keen eye as they range between Rs 7,300-10,00 per sqft. Vijayoura has new flats for sale ranging between 4,500-5,050.
As it is known that there is a large workforce employed in the area of Whitefield, and preferring to live in the vicinity, is increasing up the demands for residential options here for the comfort of the employees.
Once known as a secluded area of Bangalore to the Silicon Valley of India, Whitefield’s story was shaped primarily by the IT Hub revolution that changed the sleepy landscape with Asia’s first tech park which rose up in 1994.
The excellent development that took place in Whitefield and the EPIP zone have seen over the years seems like a page of a fictional book with a perfect ending. Mammoth towers in glass and chrome stand tall amidst natural greenery which has been long preserved by the developers of these MNC acquiring most of the Bangalore properties especially in Whitefield. Many hitherto heavy manufacturing factories have given a big hand to making this a wonderful place with a lot of infrastructural possibilities and residential flats in Bangalore.
It is no wonder that after all these factors these localities in the vicinity of these ultra facilitated tech parks have largely begun to mushroom into elite gated communities of residential buildings. Villas the high priority choice by the people who want to live here and work in these high-end vicinity of business parks.
While the ITPB has singularly driven the demand for residential property options in its vicinity, the other tech parks and business parks in the EPIP zone too have drawn a high demand for housing options ranging from mid-segment apartments and high-end homes enclosed within well-appointed gated enclaves, to villas and plots.
A member of the committee, Jain has stated that Whitefield, Electronics City, and the EPIP zone was a major initiative taken by the government to create the place into something better which eventually turned out to be called as the Silicon Valley of India with a number of reputed Multi Nationals setting up their base here. This is also increased the demand for high-end flats and villas by the people who come here every year from all over the country to earn their lavish living.
Hyderabad is now becoming the new investment destination for the commercial property developers already based in Bengaluru. This is the time when the city’s real estate market is on a revival mode after almost five years of political ups and downs in the city.
Well developed companies such as DivyaSree Developers, Embassy, Salarpuria Sattva, and RMZ Corp have successfully built or still are in the process of building a noticeable commercial portfolio in the city. This, along with Bengaluru, which is also a home to some of the largest IT companies in the world, including Microsoft, Oracle, and Uber. However, the rentals of these cities are still not as high as other cities and therefore the companies are keenly looking at this as a growth trajectory.
As it is mostly seen, the existing customers of the city will be now looking in other cities as it provides them with more options and a higher scale for a better business. This However will result in the same rental prices of Hyderabad commercial property as it is for Bengaluru. Mike Holland, the CEO of Embassy Office Parks said that it can be strongly seen that the Hyderabad infrastructure will grow immensely after the political turmoils in Bengaluru.
Like every other place, Bangalore also hit itself hard with demonetisation. This deeply effected the realty sector which consequenced in the announcements on Akrama Sakrama Scheme, National Green Tribunal’s drive to reduce the lake beds in the city. However, this is now beginning to change with the initial dust of demonetisation finally settling down. With the Union Budget Announcement, which extended a big hand to support the affordable housing, the demands have increased yet again.
Bangalore is reported as the third largest hub for High Net Worth Individuals which increases the demands for luxury housing in the form of apartments or plots in Bangalore. As the southern and eastern zones of Bangalore are popular for their commercial complexes and workplaces, major residential demands are fed by these areas.
With a 4% increase of ready to move in demands, a data was collected about where should buy their properties according to the budget.
For those who wish to manage a housing within 40lakhs have a number of options to choose from sppecially in the IT hubs such as electronic city. 1bhk Flats falls the most popular under this category. Amonsgt married couples who choose to live in the city regarding work, opt for a 2bhk house in Electronic City, Whitefield or Bannerghatta Road.
The residential demand in these areas are the highest and always dominate the popularity charts with a perfect capture of 40% of the total demands.
Apart from this, the Bangalore real estate is not keeping the 3BHK Flats and private villas aside and are launching new apartments under the category of 60lakh to 1 crore in areas like Hennur which have large scale infrastructure, easy connect with outer ring road and the international airport. Apart from Hennur, Kanakpura Road and Hebbal are also set with their ready to move in flats to meet the expectations of investors who desire luxury laced with tranquility.
Now for those entrepreneurs who does not wish to compromise on their lavish living and royalty, Bangalore is providing them plots and private villas in the range of Rs 1 Crore- 2 crore in areas such as Sarjarpur Road and Arekere. These have recently turned out to be a royal investing for the rich entrepreneurs which are mostly HNIs.
Bangalore now has more numbers of high rise apartments. They are providing a new skyline to the high-tech city.
BANGALORE: High rise apartments had become a necessity in Mumbai and other top cities where there is no sufficient space for development. Till recently, there weren’t many high rise apartments in Bangalore mainly because there was sufficient land for developing projects. Continue reading →
Bharti Walmart plans to set up its first cash & carry store in Bangalore. The Indian wing of US based retail major, is reported to be in final talks with Century Real Estate for the purpose.
Bharti Walmart prefers to set up its first cash and carry store in Bangalore. The firm is the Indian wing of American retail major has entered into final talks with Bangalore based Century Real Estate Holdings. Continue reading →
Home prices in Mumbai rose in the last quarter. Meanwhile the period was noted for lower home sales as well.
MUMBAI: Home sales are down. The real estate market is sluggish. Yet the home prices are not affected by them. It seems that the home prices are not aware of the weak home sales. Continue reading →
There are seven housing projects for seniors in Bangalore. The city is far ahead to the others like Chennai and Pune which has three each such projects.
Bangalore is one of the prime IT hubs in India. It is known for its IT development. Temperate climate, end-user oriented residential sector, stable property prices, etc. were some of the most used adjectives for Bangalore city. Adding to all these is the top position for developing most number of housing projects for the ‘seniors.’ Continue reading →
Private Equity in Real Estate (PERE) is more in Bangalore and Mumbai. Other cities like Chennai and Pune are also favorites for the private equity investors.
The IT projects in Bangalore more popular for PERE investors.
South and West remain favorites for private equity real estate investors. Majority of the Private Equity in Real Estate (PERE) investment is done in the south and west cities of India; especially in Bangalore and Mumbai.
Last year Bangalore, Chennai, Mumbai and Pune together received Rs.27,907 Cr of PERE investment. This amounts to 84% of the total investment.
The reports say that the Delhi-NCR received the third highest PERE Investment. But experts refute this by pointing out that though Jwala Real Estate and Indiabulls Infratech are Delhi registered companies, their projects are in Mumbai. It means that the investment in the National Capital Region remains only on the paper.
Blackstone is the largest PE investor in India. The US-based PE major alone has invested over $600 million in the Indian realty. However the group has so far invested only in the south and west India. Bangalore holds majority of their investments. The group has also invested in Pune and some southern and eastern cities. Continue reading →
Jones Lang LaSalle is planning to raise a new realty fund. The main focus of JLL’s Rs.1200 Cr realty fund will be commercial sector.
JLL plans to raise Rs.1200 Cr to invest in the commercial realty.
BANGALORE: Late last year Jones Lang LaSalle launched a private equity fund. The PE fund collected Rs.300 Cr. Now JLL is looking forward to raise another realty fund for investing in the commercial realty.
If JLL collected Rs.300 Cr for investing in the residential sector, the new fund, which is four times bigger than the first, will be invested in the commercial realty.
Rs.1200 Cr realty fund is expected to be launched by the 2013-end. Their first fund was invested in Bangalore. JLL invested the amount in two residential projects.
Though the new fund is expected to be invested in the commercial sector, details are not available. Sources with direct knowledge say that the decision is not yet taken as to whether the investment should be domestic or offshore.
While senior executives of JLL could not be contacted for comments, a person with direct knowledge commented that the investment will be in the commercial sector. He added that the real estate consultants are looking for higher returns from their investment and for this commercial realty is better now. Continue reading →
Global real estate consultants Cushman & Wakefield reported that Bangalore received nearly Rs.32.3 billion of Private Equity in Real Estate- PERE investments.
PERE investments have risen in Bangalore.
BANGALORE: According to the latest report by Cushman & Wakefield PERE investments have increased in Bangalore. Last year the city received Rs.32.3 billion in the form of private equity investments. The global property consultants reported that the amount is double the size than that of last year.
Most of the private equity investments were done in the commercial sector. The PE investors like Blackstone and others shifted their investment plans to the commercial sector.
While Rs.32.3 billion was invested in the commercial sector, only Rs.28.5 billion was invested in the residential sector. However the pre-launch residential properties witnessed highest number of PE deals. Though about 25 PE deals took place in the residential sector, the amount was comparatively far lower.
With Rs.13 billion of PE investments, Mumbai stood on the second spot. Delhi-NCR stood third with INR Rs.7 billion of investments. While Mumbai witnessed a minimal decline of 2%, NCR saw a sharp decline of 44%. Continue reading →
Bangalore seems the most preferred realty investment destination for Jones Lang LaSalle (JLL). Global property consultant will make their entry into the investment arena by investing in Bangalore.
Stable residential market in Bangalore attracts Jones Lang LaSalle.
Out of its first India-focused real estate fund, Jones Lang LaSalle will make an investment. However their first investment will be in Bangalore, their most preferred choice.
As per the available sources, Jones Lang LaSalle plans to invest Rs.30 Cr in Bangalore for developing two luxury housing projects. The deal will be done under Jones Lang LaSalle’s Segregated Funds Group. The closed fund has collected a total amount of Rs.300 Cr.
Four sites in Bangalore have been identified by Jones Lang LaSalle. JLL has entered into final talks with two developers of the city. If the talks come in the way JLL expects, the developers will be developing two residential projects in the city.
While visiting India, British Prime Minister David Cameron told that his government would fund for the development of Mumbai-Bangalore corridor.
Camron offers financial aid to India to complete the development of Mumbai-Bangalore corridor.
Mumbai to Bangalore corridor spreads across over 1000 km. Along this corridor nearly 9 districts and a good number of cities could be built. Around 2 to 3 million of population can settle in each city. Once the project is completed, Mumbai – Bangalore corridor would be offering millions of jobs. David Cameron, the British PM, has showed readiness to help India complete the project.
Speaking about the growth potential of the corridor, Cameron said that the physical infrastructure should be developed in the first phase.The development of social infrastructure must be followed, he added.
Offering their help to finance the project, Cameron said that their government is happy to see the development of Mumbai-Bangalore corridor. Besides financial assistance to the Indian government, Britain also has showed its readiness to cooperate with India in the project.
British prime minister’s office said that the British officials had been working on the 1000 km-long corridor from Mumbai to Bangalore. It added that they already have assessed and analyzed the project well. The development of the corridor: at an estimated cost of $25 billion, will link the commercial capital with the tech hub.
Mumbai-Bangalore corridor needs to be developed, says Cameron.
While addressing the business people and workers at Hindustan Unilever Limited, Cameron told that their country could find complete solution. He added that Britain has good architects, planners and finance experts who could offer better solution to the project.
The British PM predicted that this corridor would be holding 11.8% of total GDP of India by the year 2020. 5.8% of the total population also will be concentrating on this area.
The first phase development will include physical infrastructure, consisting power generation, telecommunication facilities and other transport networks. Once the physical infrastructure is completed, the social infrastructure including education and healthcare facilities should be developed.
Development of 24 industrial cities along the railway line that links New Delhi with Mumbai has also been planned. The project will be developed with the help of Japan. However the project is moving very slowly now and has not reached anywhere around completion.
The British government also has showed its readiness to fund the project. They will fund around $1.55 million or one million Pounds. The project, if completed, would generate over a half million jobs in the country. This will be besides the indirect jobs which the project will bring in. So the total number of jobs would be over two million or even more.
