Bangalore realty market more positive
really matters for building Brand Bangalore is good governance and good infrastructure
May 28, 2013
Source : The Times of India


BANGALORE: With a new stable government looking to address some problems of the previous one, and with interest rates falling, Bangalore’s real estate market is looking more positive for buyers and investors than it has been in a while. Given that property prices here have been relatively stable in the past few years also makes it quite attractive.

Irfan Razack, chairman and managing director, Prestige Group, says the mood among investors is positive. “What really matters for building Brand Bangalore is good governance and good infrastructure. The ongoing projects should be completed and delivered on time and quality is likely to be maintained,” he says.

Irshad Ahmed, president, Bangalore Realtors Association – India (BRAI), echoes the same sentiment. However, he says infrastructure needs to be improved significantly and the Metro rail work needs to be speeded up.

Builders say Bangalore is also attracting a lot of foreign buyers on account of the weakening of the Indian rupee. A weaker rupee makes Indian goods cheaper in terms of foreign currency. “It makes this the ideal time for foreign investment and Bangalore seems to be the most preferred city (for foreign buyers),” says Rajashekar, proprietor, Elegant Properties.

Home loan interest rates that had gone up to 11% and higher are now down to about 10%. Bankers expect the trend to continue given that the inflation rate is dropping. Interest rates play a big role in real estate because most buyers take large loans to finance their property purchases.

Zahed Mahmood, director in property brokerage firm Silverline Realty, notes that schemes such as where the builder bears the customer’s EMI till the project is complete, is helping to bring buyers into the market.

“Bangalore is more an end-user market rather than speculative. So it’s helping to keep prices stable,” says Mahmood.

There are concerns about the job market though. IT companies are no longer creating as many jobs as they once were. But Irshad Ahmed says this is not an immediate concern.

Realtors are looking forward to the latter half of 2013 when the Real Estate Regulatory Bill and the Land Acquisition, Rehabilitation and Resettlement Bill are expected to be passed. “The Real Estate Regulatory Bill, if passed, will help the growth of India’s realty sector. It will root out all the unethical and fly-by-night operators and enable a healthy business to emerge,” says Zahed Mahmood.

Latest Realty News

The Panvel-New Panvel stretch will witness multiple project possessions
May 28, 2013
The upcoming International Airport at Navi Mumbai has infused new life into the real estate market in the southern suburbs of Panvel and New Panvel, which would be in close proximity to the airport. This has made these locations, one of the most-promising property destinations in Navi Mumbai, today.
Builders urged to keep in mind basic consumer requirements
May 28, 2013
Builders in Mangalore have been asked to think about meeting the basic consumer requirements while planning their projects.
Single-window approval for projects sought
May 28, 2013
Credai, the apex body of real estate developers in the country, has urged the Government to introduce single-window approvals for projects at the earliest.
Homebuyers in Noida move Allahabad HC
May 28, 2013
Homebuyers of Noida Extension have filed a writ petition in the Allahabad high court demanding a complete stay on the cancellation of bookings of housing units, which is being carried out by a few developers in the region
Noida land prices may zoom
May 28, 2013
Buying a house or land in Noida, Greater Noida and along the Yamuna Expressway has become costlier. At a board meeting on Monday, three development authorities for these areas announced a substantial rise in allotment prices across all categories of land.
Realty firms tweak norms to push sales
May 28, 2013
Sluggish commercial market is prompting developers, occupiers and financiers to come up with different ideas to protect their interest and get things going. While developers are tweaking their offerings along with easier payment structures, including installment option, private equity players are opting for strata buys rather than acquiring entire projects for complete control.
Housing prices rise by around 1 pc in 20 major cities: NHB
May 28, 2013
Housing prices have increased marginally by an average 1.1 per cent in 20 major cities, including Delhi and Mumbai, in January-March 2013 over the previous quarter due to slowdown in demand, National Housing Bank said today.
YES Bank CEO Rana Kapoor's family buys Rs 128 cr house next to Mukesh Ambani's Antilla
May 28, 2013
The family of YES Bank BSE 0.11 % CEO and managing director Rana Kapoor has bought a residential building - jointly owned by Citibank and GlaxoSmithKline - on tony Altamount Road in Mumbai for Rs 128 crore, and plans to build a home there. The building is next to Mukesh Ambani's 27-storey Antilla.
Indiabulls Real Estate can move to Rs 110: Tulsian
May 28, 2013
SP Tulsian said "By and large, I am keeping a positive view on all the real estate stocks whether you talk of the Indiabulls Real Estate or Prestige Estate , Anant Raj . Maybe because Indiabulls Real Estate has a good presence in Mumbai, the three pockets - National Capital Region (NCR), Bangalore and Mumbai are really doing quite well."
State push for road projects
May 28, 2013
Road projects under the Pradhan Mantri Gram Sarak Yojana (PMGSY) scheme received a push on Monday with the state cabinet passing a proposal to form eight programme implementation units (PIU), which will look after the road construction projects in seven districts.

Latest Realty News Of State

Realty Talk's