Bangalore Real Estate Rings in New Year

Bangalore Real Estate Rings in New Year

By siliconindia   |   Monday, December 8, 2014   |    1 Comments

Bangalore Real Estate in New YearBangalore : Just a few days to New Year, Bangalore real estate market racing ahead and attracting many renowned developers. As the Bangalore real estate market witnesses uplift in its sentiments numerous eminent developers coming up with their new launches in Bangalore city. They come up with their new launches as the demand for properties in Bangalore sees a tremendous uplift from the past few months.
 
Moreover, Modi government has concocted many policies which are plus point to developers who are supposed to start their business. Being a prominent IT hub of India, the Bangalore real estate market is predictable to linger active and high on demand in the impending year as it offers increased job opportunities and catering housing needs for migrant people. This is one of the major reasons why the Bangalore real estate market remains high on the list.

MD of Puravankara Group, Mr. Ashish Puravankara stated that “the push given by RBI and budget in the recent times regarding the benefits of interest from 1.5 Lakh to 2 Lakh will help individuals to buy their own homes”.

The housing needs in this Bangalore city are continuously growing as the city attracts many home seekers and heavy work force from all over the world. As per the Cushman and Wakefield (C&W) global real estate consultancy study, the current supply expected point of new units is nearly 56 percent to the middle income group (MIG), 15 percent to the Highest Income Group (HIG) and 29 percent to the Lowest Income Group (LIG). Bangalore developers mainly focused on developing Middle income Segment housing due to the high scale mid level IT professional.

As the city house number of multinational companies and being headquartered of many IT companies, it is expected that there will be a growth of high level segment housing in the near future.

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