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Follow on Google News | Bangalore North records maximum rental yield identifies Vestian’s Bangalore Real Estate ReportThe capital values for this market currently stand between INR 4,800 ‐ 9,000 /sqft for class A villas or row‐houses and between INR 3,800 ‐ 11,500/ Bangalore North recorded the highest absorption figures of 5,170 units for H1 2013 as observed by the Bangalore Real Estate Report. While the average annual price appreciation 2012‐13 was examined to range between 11‐18% for this market, it is anticipated to escalate further in the medium to long term. Owing to the availability of large land parcels, the northern quadrant of the city is also the ideal destination for most realtors to develop new residential concepts such as Villas, Sky Villas, Duplex Apartments & Villaments, etc. he Bangalore Real Estate Report has identified Hennur Road, Thanisandra Main Road & Bellary Road as the emerging micro‐markets in Bangalore North owing to their proximity to the Outer Ring Road & city centre, better social infrastructure and availability of large land parcels. It also states that Leela Ventures 300‐room 5‐star project in Bhartiya City on Thanisandra Road will positively impact the social infrastructure of the region. Since most hospitality & retail majors are currently mapping the neighbourhoods for their future projects, the social infrastructure is poised to improve in the medium to long term. Key takeaways from the Bangalore Real Estate Report The city witnessed fresh supply of 26,620 units in H1 2013 and 18,076 units were absorbed during the same period. The most vibrant micro‐markets include Whitefield, ORR (Hebbal to Silk Board Junction), Sarjapur Road and Bangalore North.¾ Bangalore has witnessed significant launches in the ticket size of INR 1 crore and above. Demand for mid segment (ticket size of INR 25L ‐ INR 50L) remains buoyant across the city. Off‐central location of Magadi Road is witnessing renewed interest due to the availability of industrial land for redevelopment in the inner ring city. Strong demand for office space in ORR and Sarjapur Road is expected to appreciate the rental values in these micro‐markets. Locations supporting development of mid‐segment include Kanakapura Road, Sarjapur Road (after Railway Crossing), Hosur Road and Bannerghatta Road. Capital Values for residential projects witnessed an increase in the range of 5% ‐ 25% across micro‐markets. Among micro‐markets Tumkur Road, ORR‐Sarjapur Stretch and Whitefield observed the highest appreciation. New project launches are likely to be in the range of 40,000‐45,000 units whereas absorption is likely to be in the range of 33,000 ‐ 35,000 units. About Vestian Vestian Global Workplace Services, is an ISO 9001:2008 certified workplace services firm that specializes in providing occupier‐focused solutions for commercial, residential, industrial, retail and hospitality sectors. A fully owned subsidiary of Chicago‐based Vestian Inc, Vestian Global Workplace Services has offices in USA, India, China, the Middle East and Sri Lanka. With “Delivering Measurable Results” as corporate ethos, we have successfully created service models that are accountable, metrics driven, focused on high quality services‐ and governed by global delivery standards. Our extensive service portfolio includes Transaction Advisory, Project Services, Strategic Advisory, Retail Business Solutions and Facilities Management Services. For additional information, you can visit us at www.vestianglobal.com. For further information, please contact Corporate Communications Cell Romita Banerjee +91 9591948496 romita@vestianglobal.com End
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