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Real Estate Market in Bangalore 2022?


Real Estate Market in Bangalore 2022?

The residential realty market of Bangalore witnessed a big comeback in the first half of 2022 on both demand and supply sides. In January 2022, property visits witnessed a slight hit due to the incoming of the third wave of the COVID – 19 pandemic, which was succeeded by a short-term mobility restriction. Despite the ongoing pandemic, Bangalore's residential real estate market is booming, with homes selling like delicious cakes. The residential sector in Bangalore has remained overly optimistic, making it a top investment choice. The demand for residential real estate in the Silicon Valley of India has risen amid the COVID-19-induced pandemic, as the pandemic and nationwide lockdowns have caused an intense desire to own a house. Besides, the pandemic has served as a reminder that one's home is the safest place to be during difficult times.

Bangalore is the current IT hub of India and has a strong potential for infrastructure growth. Its real estate market has witnessed stable growth in the last few years. Furthermore, government policies, such as the RERA Act, which aims to benefit builders, investors, and home buyers, have prompted stakeholders to recognize the value of the real estate market in Bangalore. These factors, along with IT and infrastructure development, transportation lines, quality construction, and market growth, have given rise to a few best locations to invest in Bangalore in 2022. Whitefield is one such area in Bangalore. Average property prices in Whitefield are Rs 5,538 per sq ft, and the average monthly rent in Whitefield is Rs 18,518. Whitefield is a developed commercial place among the best places to invest in real estate in Bangalore. With giant IT parks in Whitefield, the region has become a hotbed for real estate investment. In Whitefield, many housing options are reasonably accessible to a middle-class family. Now that the purple line metro is active and train services have been launched from Majestic to Whitefield, this location will undoubtedly become a hub for real estate investment in the coming years.

Bangalore has become one of the top choices for real estate investment among prospective investors. This is because of its reputation for the lowest delay in handing apartments to purchasers. As per ASSOCHAM's report, Bangalore held the least number of unsold units among all Indian cities. Furthermore, as per ANAROCK Property Consultants, Bangalore witnessed average property prices rise by 2% and increased unsold properties by 2% despite the pandemic and lockdown.

There are many primary reasons why the Bangalore real estate market will recover quickly and give high returns. Let's look into them. There has been a reduction in property stamp duty. It has been a good decision by the state government. The decrease in property stamp duty to 2% for properties within Rs. 20 lakh and 3–5% for properties in Rs. 21–35 lakh range came as happy news for homebuyers. This reduction will encourage people to invest in properties in Bangalore. The incentive of getting Rs. 60,000 off on an apartment of Rs. 20 Lakh will also significantly attract homebuyers during the real estate market recovery and help pool resources towards strengthening the market.

As it is situated in the Silicon Valley of India, the Bangalore real estate market has been the quickest to adjust to fluctuating marketing conditions. The prominent builders shifted their focus to shaping digital strategies for enhancing customer experiences, such as integrating VR and 3D modeling for virtual tours and property visits. Organizing virtual conferencing for client meets, digitizing documentation, and online payments are a few reasons why Bangalore's realty market could uplift and recover even during the pandemic. Another reason is the city's robust infrastructure. Vital infrastructure and excellent connectivity are advantages for property investment in Bangalore. The property appreciation rate depends on the city's upcoming facilities. Bangalore's Outer Ring Road and metro expansion will enhance convenience for intra-city travel and be a positive upthrust for real estate investment.

Bangalore's strong plan for curbing the pandemic's impact on its real estate market has undoubtedly opened new lucrative opportunities for real estate development. The real estate market in the city has been slowly recovering without compromising on offering lucrative opportunities to potential purchasers to buy their dream houses. The city has doubtlessly helmed safely through the pandemic. This gives enough assurance to prospective buyers for their investments and optimism about getting a favorable return on investment. A large pool of homebuyers will continue to investigate investing in luxury apartments that offer rich ambiance and lifestyle upgrades. As per the Bangalore real estate market prediction, mid-segment housing projects dominated launches in the recent quarter, with approx. 75% of NRIs choose Bangalore as their highly preferred city for buying their dream homes. The Union Budget 2022-23 has also offered the recuperating real estate sector imperative upthrust.

Whitefield is one of the prime localities of Bangalore. Godrej Properties, which holds a significant position in the real estate business, have developed excellent infrastructure projects. The sustained growth in real estate in Bangalore is well-known by everyone. The technological expansion is still going strong and will only get stronger in the coming future. This signifies that property values will rise in the following years due to rapid technological advancements. Undoubtedly, the IT boom has directly or indirectly impacted Whitefield's strong development. As a residential hub, Whitefield is expanding. High property appreciation rates have resulted from expanding the metro and other infrastructure developments. The locality's most intriguing factor is the extensive range of accommodations or housing options it offers homebuyers. It provides a wide range of luxury villas, township developments, apartments, and townhouses. These apartments are available for purchase at different price points.

Whitefield is a great area because of its excellent designs, architectural attractiveness, and wide selection of housing projects that it offers. It also features residential projects from practically all prestigious Godrej builder firms, giving buyers many options. So, there is a broader choice for those who want to invest in affordable luxury homes. Godrej Splendour is another exemplary in Whitefield from Godrej Properties. These magnificence apartments in the very awesomely developed east Bangalore are an excellent offering for investors. It offers the futuristic concept of lavish living where nature meets technology. The beautiful project has 1, 2, and 3 BHK sets. These apartments will give an enthralling experience to all the esteemed dwellers. Excellent and spacious interiors topped with signature and top-notch amenities; every feature here will uplift the residents' living experience.

Godrej Splendour

Godrej Splendour

Godrej Splendour is a brand new residential apartment project by Godrej Properties located on Belathur Main Road in East Bangalore's rapidly growing suburb of Whitefield. This exclusive residential enclave in Whitefield spans 18 acres and features the best of Godrej Properties' premium living offerings. The project features 1,2,3 BHK JOY-themed apartments with top-of-the-line amenities and features. With Old Madras Road, KR Puram, and Hoodi all close by, Godrej Splendour is less than 10 minutes away from the major IT and business centers of Whitefield and ITPL.

Whitefield is a highly sought-after location in Bengaluru due to its ideal combination of superior location and amenities. With so many businesses establishing themselves here, the neighborhood will soon see a surge in population with a wide range of needs. Whitefield is well worth the investment, with many developments in the works.

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