With
the implementation of the new guidance values, the prices of
Bangalore real estate are
expected to shoot up. This has worried builders and buyers equally
well. With the new guidance rules, the prices of houses and villas
have already escalated in several localities like Sarjapur and K R
Puram. This has directly effected the number of sales. The purchases
in such areas have dwindled. As per market analysis, there has been a
hike of about 20% in the ongoing construction projects, thus further
alleviating the woes of common buyers.
The
capital market for property in Bangalore has gained momentum
within the first quarter of 2013. Seeing the way the demand for real
estate is intensifying, the prices are multiplying like never before.
As per the market analysis, the capital rates can see a swelling of
10-100% in the coming months. This shall definitely go in favor of
the investors (both local and NRIs), and the government authorities.
With the demand treading an upswing road, the city is going to see a
plentiful of new registrations. And with these, the government is all
slated to rake in mullahs: the estimated revenue collected from stamp
duty, cess, and other taxes is estimated to garner about 6500
crores!.
Till
now, the capital value of residential properties in
Bangalore was lowest if
compared to that of Delhi, Mumbai, Hyderabad, and Chennai. But as per
the present trends, the situation has changed. Some of the localities
that are witnessing a huge price appreciation form part of South and
Central Bangalore: Electronic City, Kanakapura, Uttarhalli, JP Nagar,
and Jaya Nagar in South & Frazer Town, Cox Town, and Sagarpur in
Cenral region are a few examples in this regard. In Central Bangalore
itself, the price per sq ft (psf) is highest: Rs. 9272/- in the month
of August. Those who are eying for apartments for sale in
Bangalore in these localities,
must know that a price appreciation of 25% has taken place over past
one year. In the Easter region, psf value has got an appreciation of
about 3%, while in North, a 6% hike has been noticed in the first
quarter of 2013.
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Hike
in Prices of Bangalore Residential Properties
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