As
per the market reports, IT sector is losing its sheen in terms of
contribution to real estate. The contribution, in fact, has fallen to
only 45%, which was earlier 70%. The sales from non-IT sectors like
banking, finance, and others have increased well above average: 55% part
now comes from these markets. The stronghold of non-IT market has
increased and more calls for residential properties now come from them.
Even the absorption of commercial properties has gone up in these
particular niches. The Electronic City that derived its name from IT
industry itself, is now falling short of the expectations.
This was one thing. In spite of the slowdown in IT, newer developments in terms of residential flats in Bangalore is
continuing on a steady pace. The property rates in the third quarter of
the year have seen a nominal increase. Along with this, the demand for
retail centers, business firms, and other commercial units is also going
fine in the city's realty market. The city, in fact, is not merely a
Garden City with salubrious climate or with forts and art centers. It
has outgrown, and has transformed into a colossal trade center.
Plenteous business units have dotted the city's landscape.
The properties Bangalore
is witnessing small and large segment residential projects, with big
builders coming with state-of-the-art projects. The demand, though not
equals the supply, yet it has not depreciated too much, like in other
metropolitan cities. The empty units are still less than 10%, which is
not a figure for worrying too much. The presence of top-level
infrastructure, ready availability of top amenities, and good potential
for development are the prime reasons why the city has been able to
maintain its growth rate.
Look for flats in Bangalore over realty portal, Makaan.com.
Search for single rooms, apartments, villas, bungalows, office spaces
in different price brackets. Get to know the price trends for real estate Bangalore and other cities.
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