Magazine : 
Bangalore Property Buyers Delighted @ Property City Event
Bangalore: Bangalore property buyers were up for a treat on June 23rd, as SiliconInida held its Property City event in NIMHANS Convention center. This event brought together over 200 Bangalore’s most knowledgeable and respected industry professionals and real estate buyers together, providing, one stop solution for all property procurement issues. The basic endeavor of the event was to educate all future home buyers about what to expect in the Bangalore real estate market.
The Inaugural Keynote was on “State of the Bangalore Real Estate Market”, given by George Johnson, National Director-Corporate Finance, Jones Lang LaSalle.
Mr. Jackbastian Nazareth, CEO, Puravankara Group, delivered the keynote, “Ins and Outs of buying property” in Bangalore.
“Despite global economic sluggishness, the residential real-estate market in Bangalore has been resilient, fuelled by job stability, rising income and income tax-sops. Bangalore district has grown three times faster than Karnataka as a whole – the population having ballooned over 45 percent in the past decade, to nearly 10 million. In response to the burgeoning populace, over 115,000 residential units were at various stages of construction in the city, as of March 12,” Jackbastian alleged in his speech.
“Buying a property in Bangalore is recommended. Real-estate advisories indicate that with the exception of Central Bangalore, it is much less expensive to buy a property than to rent. Property prices have risen over 20 percent on average, even as absorption rates have remained high. Residential units in the 
25L-75L price range, account for 70 percent of market absorption. The Puravankara suite of properties, particularly the Provident brand, which is positioned in this price-segment, has been exceptionally well-received,” Jackbastian added.
Session one, enlightened the topic,” The APARTMENT you always wanted to buy”. Mr Avinash Rao, Regional Director - South, Knight Frank elucidated the audience about the complexities of apartment purchase.
‘Bangalore is an excellent destination to live as it offers a wide variety of quality options to customers at price points ranging from affordable to super luxury. At a weighted average price of 4,500 per SFT Bangalore offers excellent value for money. In a nutshell three aspects, namely Affordability, Availability and Good Standards of Living make buying a home in Bangalore a compelling proposition,’ he informed.
‘Buying a home is a complex and emotional decision. For an end user it is important to simplify this decision-making process. Which is only possible by de-cluttering one’s mind and gaining clarity of thought by answering certain key questions like Budget, What to Buy, Location – Where to buy, Configuration – Whether to buy a Flat/Row House/Villa and the bare minimum Area in SFT, Builder – Who to buy it from and finally having a Future perspective on the Social and Physical infrastructure development planned for the chosen location. Answering these Questions will go a long way in simplifying the Decision Making process and help in arriving at the most suitable option.’ Avinash added.
The second session of the event was held on,” Where to buy? How to buy? Why to buy,”with Mr. Farooq Mohamed, Director, Bangalore Cityhome as a speaker.
“First of all the Auditorium location was good, you did had right people attending accordingly, it was very informative and educative to see and listen to the senior guys from the builders banks and legal side, The buyers really did get lot of good info on how to buy, where to buy and why to buy,” Mr. Farooq said in his feedback.
The 3rd session was on, “Behavior of Real Estate Consumer in India”, where Mr. Sumit Jain, Co-Founder, CommonFloor.com enlightened the audience about the knowhow’s of Indian Real Estate Consumers.
“It was a good platform to share knowledge and experience about the Real Estate in India. It felt really great to listen to other industry experts and add value to the conference.” Sumit Jain said, about the event.
The 4th Session was about “Choosing the Right LOAN”, by Mr. Sanjay Shukla, Business Head - Consumer Assets and Sales, ING Vysya Bank as a speaker.
The final session was about,” LEGAL Aspects of Buying Property”.Mr. S.Subrahmanya, Co Founder, Upasana Associates updated the crowd about the various legal facets they should keep in mind, while buying or selling property.
Overall, the Property City Event was a grand success and it was a great platform for anyone related Bangalore real estate segment.
