Developers in Koramangala ride on festive

splurge
Come festive season, real estate in
Koramangala (south Bangalore) will be
a buzz. The sales charts, in the frst leg
of of the festive spirit is likel to hit
high an! the business is e"pecte! to
grow b #$%&$' higher in comparison
to last ear, sa !evelopers in the
localit.
Buil!ers in the area !i! not witness much !ownturn in their sales graph this
ear an! the festive season is likel to continue the proft run for them. (rom
premium to a)or!able, real estate in Koramangala lives up to the
e"pectation of the !evelopers an! buil!ers of ever segment !uring the
festive season. The perio! that sets%o) from *iwali an! continues till +ew
,ear, is seen as the perfect time for an investor to bu a propert.
Why festive season clicks?
-ccor!ing to market recor!s, !evelopers have witnesse! propert sales
.ing o) the shelves !uring the festive season, which begins from *iwali.
/ince, the perio! is consi!ere! an auspicious time to purchase properties,
there is a slight uptick in the number of !eals an! transactions !uring the
perio!.
0stimate! sales increase in the localit is calculate! at 12%3$' !uring the
season, mostl !ue to attractive o)ers an! !iscounts. The average price per
s4ft in the area is 5s &2$$ an! the average inventor available is 13$$ s4 ft.
(urthermore, small !evelopers have thrown in their hats in the ring to cash in
on the !eman! for housing units in the area.
Because of a strong !eman! an! limite! suppl of units in Koramangala,
!evelopers !o not foresee an ma6or re!uction in the resale or lu"ur
market. The localit also cashes in on its pro"imit to 0lectronic Cit.
-)or!able housing segment, is a ma6or hit in the area, an! is being mainl
!riven b the oung professionals migrating from !i)erent cities. 0"perts
suggest that this woul! push%up rentals in this categor b 7%&'.
Bangalore overall
-lthough global economic ambiguities slacke! growth in the service sector,
reasonable sales volume an! new launches !i! not fail to register goo!
fgures in the accounts book of the !evelopers. The real estate market of
Bangalore, as a whole caters to oung professionals mainl, an! ke
!evelopers (like 8o!re6 properties, Tata housing, -shoka 8roup etc.) tr to
rope in the target group with a)or!able housing units.
-ccor!ing to o9cials of Cushman an! :akefel!, for an micro%market in the
cit !eman! for a)or!able units is !riven b the ;T<;Tes sector an!
Koramangala is no e"ception, !ue its pro"imit to 0lectronic Cit. The
inventor is generall high an! buil!ers concentrate in this categor to cater
to the growing !eman!.
Source= Common(loor.com
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