Bangalore's Luxury Property Market Worth Billion Dollars

Bangalore: The vibrant nature of Bangalore’s real estate market and the stable property prices make the city one of the leading real estate markets in India. Besides the economical growth, the city is also flourishing in its real estate market. Unlike other metros like Delhi and Mumbai, Bangalore’s realty market offers variety of property options to fulfill buyer’s requirement. Over the past, the city has been experiencing the demand for luxury homes as well.

Lately, in the super luxury segment, Kingfisher Towers, an upcoming ultra luxury residential project setting their capital values benchmark of 30000 per square feet and with this the luxury residential segment is witnessing major transformation in Bangalore, according to property consultancy firm Jones Lang LaSalle (JLL) India, reports Sobia Khan of Economic Times.

In Bangalore, the capital values of residential property have rose to 25 percent from the economic slowdown in 2009, according to JLL data. In the recent past, the city’s rate of absorption in residential spaces is tilted towards the price bracket of 3000-7000 per square feet, however, there is also major demand for residential spaces in the price bracket of 7500 per square feet and above.