Given the present state of infrastructure and accessibility, real estate from Bellary Road to Yelahanka in North Bangalore has been witnessing the launch of numerous residential projects these days. The area has been attracting both the segments of investors and end-users alike.
Some of the major projects that are at various stages of construction in Bangalore include Golden Gate Property's Golden Grand with 850 apartments on Tumkur Road, and the 140 apartment Golden Star project on Hoodi Circle, Godrej Woodsman Estate with 780 apartments on Bellary Road, Also, Sobha Developer is also building a 197 apartment 'Cinnamon' in Kudulu, off Hosur Road.
At the other end, a drop of about 15-20 per cent in transaction volume is noticed in residential real estate in Bangalore, in the past quarter, say developers and property brokers. However, the city is picking up in the segments of plotted development, luxury villas, apartments and penthouses. Developers are coming up with innovative marketing strategies and schemes to attract buyers.
A suite of residential projects launched in the areas of Whitefield, Outer Ring Road (ORR), and Sarjapur Road that were launched between year 2004 and 2005 are near completion.
The typical mid-budget apartment size in these projects varies from 1,400 sq ft to 2,000 sq ft. Most of the upcoming projects in North Bangalore offer well-furnished accommodation with facilities such as swimming pool, kids playing area, theatres, clubs, health centre and shopping complex. All these features make the place attractive to the people who want to lead a luxurious life, says Mr Kareem of Prime Property Consultant.
The market experts, however, apprehend that might suffer from the oversupply and the scene, from the perspective of developer, would actually remain under pressure.
