Bangalore Realty Market Outshines Other Top Metros

Bangalore: When it comes to stable real estate market, the first thing that comes to our mind is Bangalore. Recently, it has surpassed property market in top metros like Mumbai, Delhi and Chennai. When these top metros are struggling with stagnation and less sales, the vibrant nature of Bangalore’s real estate market remains steady with 140 percent growth in the quarter to June.

According to PropEquity, Bangalore has witnessed the sales in residential space of around 15.58 million, making the total market share of nearly 13.9 percent, which has outpaced other big domestic markets in home sales, reports Sobia Khan of Economic Times.

However, "Bangalore property market is leading both in terms of loan disbursement and sanction. There is a turnaround in the real estate market in Bangalore, which is mainly due to slower growth as compared to markets like Mumbai, Delhi and Chennai," added VK Sharma, CEO of LIC Housing Finance.

Pirojsha Godrej, Managing Director and Chief Executive Officer of Godrej Properties said "Bangalore is witnessing higher off-take as compared to other bigger realty markets in the country despite challenging times," reports Economic Times.

According to Prashanth Sambargi of Mars Realty, "Land is not priced out in the south as compared to other cities. The property market in the city has performed even during the slowdown.”

Whereas, bigger metros like Mumbai Metropolitan Region and Delhi-NCR experiencing drop in property sales by 60 percent and 57 percent, respectively. And, the market scenario continues for the second quarter as well.