Villa in bangalore

Bangalore is experiencing a 45% hike in villa buying especially costing over Rs 1.5 crore. The city ranks third in the real estate space only after Chennai and Hyderabad. In other parts of India, the luxury living space is stagnant and Bangalore is the only city that has seen a spike in the recent years. The Central Business District is steady and luxury constructions have dropped since 2016 in cities like Mumbai. The implementation of RERA Real Estate Regulation and Development Act 2016 along with GST and the festival season has raised the hope of the real estate market in the coming months.

Bangalore is a young city with the average age is 34 years and the city dwellers buy their first home in their late 20s. For young couple a home is an investment priority. Singles always prefer shared accommodation. The city is experiencing a boom with the 42 km metro corridor. Due to this the capital prices have risen by 150% approximately over the last five years in locations near the metro. The prices are expected to rise in the coming years.

The trends in the real estate market in Bangalore include:

• Around 33% of Bangalore dwellers are looking to buy villa in Bangalore
• The demand in the home segment has risen by two-third
• Bengalureans finalize property with a span of 7 months
• The demand for low budget homes below Rs 80 lakhs has increased by 40%
• There is a 3% rise in the under construction property in 2017
• There is a drop of 1% in ready to move homes
• The property prices have increased by 1%
• There is a 5% increase in overall capital prices in last year

Tips for new buyers
The zones that are experiencing rise include Koramangala to Electronic City in the South, Whitefield in the east and New Airport stretch in the North.