Mayank Saksena, MD – Land & Head – South India, ANAROCK Property Consultants
Driven largely by the end-users, the Bengaluru real estate market has remained resilient even during the worst phase of the property cycle in the country.
Realistic property prices, ‘real’ demand by end-users, developers’ strategy to keep the new launches under control along with their consistent efforts to minimize the demand-supply gap have worked in favour of the ‘Garden City.’
Since the end-users here are mostly professionals working across service sectors led by the IT/ITeS, developers have been conscientiously aligning their offerings to this demand.
For instance, to cater to the demands of a tech-savvy homebuyer, developers have launched ‘Smart Homes’ for their buyers with several features at the ‘click of a button.’ Additionally, builders here were among the first to offer an online payment system for a property.
One of the major positives of this city is that it has always adapted well to the changing market dynamics, and therefore remains well-positioned for future growth as well.
As per ANAROCK data, the city added 8,800 units in Q2 2018, a quarterly increase of 28% against the preceding quarter.
Prashant Thakur, Head – Research,