Affordable Segment – Below Rs 50 lakh
Affordable housing will see constant demand on the outskirts of Bangalore, in all directions. Availability of large land parcels at lower prices has encouraged affordable housing projects in these areas. Also, the planned Metro rail and the Peripheral Ring Road have increased demand on the outskirts of Bangalore.
VBHC Attibele and Patel Neo Town in South Bangalore, Provident Welworth and Sovereign Lakefront in North Bangalore, Provident Sunworth and VBHC Kengeri in West Bangalore are some of the notable affordable housing projects in the city. The demand for budget housing in East Bangalore is lower when compared to the other micro-markets of the city such as Mysore road, Hosur road, Kanakapura Road, etc.
Market Overview
The Bangalore market witnessed improved residential real estate absorption in 4Q13 in comparison to 3Q13. Over 30 residential projects were launched across Bangalore in the last quarter of 2013. Major residential launches included Unishire Belvedere Signature, Orchids Lake View, Ajmera Stone Park, Hiranandani Edenhall, Sobha Town Square and Purva Coronation Square.
Capital values appreciated marginally across various sub-markets in 4Q13 due to an increase in sales volumes and higher prices at most projects that were nearing completion.
