According to a report, Bengaluru, India, had the largest real estate market last quarter.
The survey also noted that there were 16,537 new launches in the city, a rise of over 45%.
Bengaluru: According to a report released on Thursday by JLL Research's Real Estate Intelligence Service (REIS), the IT center has become the top residential real estate market, with 18,550 units sold in the most recent financial quarter.
The survey also noted that there were 16,537 new launches in the city, a rise of over 45%.
According to Rahul Arora, senior managing director (Karnataka & Kerala), JLL India, the city of Bengaluru has been attracting national and regional developers due to the city's sustained demand for real estate, which is bolstered by the booming IT sector, infrastructure upgrades, and a hospitable business environment. As a result, there are successful launches every quarter.
He said that Whitefield accounted for 47% of new launches in Bengaluru, with Bellary Road and Hosur Road coming in close second.
In the most recent financial quarter, apartments in the upper-mid segment—which ranged in price from ₹1 crore to ₹3 crore—held a commanding 62 percent share.
"Whitefield's development into the office sector and the subsequent Namma Metro extension have helped it maintain its dominant position. Reputable developers have expressed interest in the corridor that connects Whitefield to Kempegowda International Airport through Budigere Cross. The projects they have launched are mostly priced between ₹ 1 crore and ₹ 3 crore, according to Arora.
Remarkably, projects that were introduced in the first half of the year generated over 25% of Bengaluru's revenues, indicating high customer confidence in such developments," said Samantak Das, chief economist and head of research and REIS, India, JLL, adding that the city's unsold inventory too registered a perceptible dip.
What's Your Reaction?
