According to the JLL report, the Silicon City of India, Bengaluru has occurred as a prime space for resisential real estate market in India with 18,548 housing units sold and 16,537 homes propelled during the period between April –June of the current calendar year.
A leading 63% of the home launches fell in the upper-mid segment including the apartments prized between Rs.1-3 crore, the report showed.
The Information & technology capital of India accounted for maximum 21% of the complete residential launches and nearly 23% of the housing sales in pan India throughout the three-month period. The study analysis endorsed sustained demand for Bengaluru’s property reinforced by the flourishing IT industry, infrastructure up-gradation programs and a conductive business landscape for the achievement.
In the study, the micro-market analysis disclosed that Whitefield in East Bengaluru held strong on its leading position, amounting for probably 47% of the fresh supply and neatly 57% of the entire sales throughout the June quarter. At the same time, the study shows that the submarkets of Hosur road & Bellary Road also made notable contributions.
Talking to this, Rahul Arora, Senior Managing Director, Karnataka, Kerala, JLL India says, “The corridor connecting Whitefield to Kempegowda International Airport through Budigere Cross has attracted several reputed developers who have announced projects largely within a ticket price range of Rs.1 -3 crore”.
As per the study, throughout the first half annual period of the year 2024, the average price of the property in Bengaluru witnessed a yearly increase of around 15%. The increase in property prices can be accredited to the launch of first-rate projects at greater rates and speeder pace at which the qualified housing launches are getting sold into the city, specifically in the markets of North Bengaluru and Whitefield, the report stated.
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