The recent real estate boom in Bangalore is best illustrated
by the way homes are rented, bought and sold. 50-60 per cent of bank business
is from real estate, in Bangalore.
Real estateBangalore is growing rapidly due to some factors, Such as:
- o A greater percentage of end users among buyers than in the other cities
- o A relatively moderate price escalation
The property market in the city has performed well even when
other major cities were undergoing from downturn. Since April, 2013 LIC Housing
Finance garnered around 15.5 per cent of the total home loan business from the
Bangalore region, compared with 13 per cent in the corresponding period last
year. The Bangalore property market is leading both in terms of loan disbursal
and sanction.
According to National Housing Bank, Bangalore saw a rise of 9
per cent rise in residential properties in 2013, compared to the year-ago
period last year. Prices of homes have appreciated three to four times within
the span of a decade.
Significantly, the IT revolution has been the major reason
for the mindboggling growth of the real estate sector since the major buyers
are from this industry—professionals and software companies.
According to a survey,
over 50 per cent of housing projects were occupied by the IT professionals.
Bangalore is the only metro city in India where consumers can get a quality
product with good amenities at prices ranging from Rs 4,000 - 5,000 per sqft.Real estate Bangalore
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