Optimistic Market Drives Demand for Homes

In the second quarter, nearly 18 residential projects were launched across the city’s sub-markets. Meanwhile, around 15 residential projects that comprise 2336 units have been pulled out from the active stock as the inventories were sold out completely, which shows a clear indication of the noticeable shift in property buying trend.

The Hosur Road sub-market that includes Electronic City, Bannerghatta Road, Sarjapur Road and the south-eastern parts o f the Outer Ring Road, provided 35 percent of the total new residential units available in the second quarter, whereas the Bellary Road sub-market has contributed 11 percent of the total new-units. The second sub-market comprising Indiranagar, Koramangala, R T Nagar, Sanjay Nagar, C V Raman Nagar, Old Airport Road, Banashankari, BTM Layout, Marathahalli and parts of Sarjapur Road, contributed 10 percent of the total new-units and 17 percent for the Tumkur Road sub-market.

Demand pattern:

A majority of home loan request are pouring in for apartments and villas, whereas limited percentage is coming up for investment in developed plots across the city. Though, residents comprise 80 percent of the home loan division, NRIs’ constitute 20 percent share of the market. With the increasing rate of project completion, both housing finance companies and banks are likely to offer innovative schemes to entice home loan borrowers as the demand for investments in housing segment is increasing.