Latest Property News on 'Bangalore'

Limited Time Offer on Bangalore Property Sale!

You must have heard about sale on apparels, accessories, household commodities. But have you ever seen sale on properties? Or think about the real estate sale advertisements wooing you with the catchlines like Hurry! Limited Time Offer! Must Act Today! Interesting enough! Isn’t it? The prime properties in Bangalore are on sale and offers 80% off!

This was the catchline at the auction sale in Bangalore urban deputy commissioner’s office where they have put several plots on auction for unbelievable cheap prices. However, the auction has gone below the guidance value rates. Read More »

Hotel Prices Push Demand for Serviced Flats in Bangalore

As a substitute for highly prized hotel rooms, builders in Bangalore have come up with a new trend – ‘Serviced Apartments’ which promise to offer cost effective accommodation solutions. The concept sounds good for business travelers coming to the city.

Like hotels, these apartments will offer short-term stay and cater to the demanding requirements of corporates, businesspeople, tourists, and expatriates. Although, the city already has 600 to 800 serviced apartments, but there seems an extra need for the same. For that reason, another 800 to 1,000 serviced apartments are to come up soon. The work is in progress, says a property consultant. Read More »

Guidance Value Pushing Property Rates in Bangalore

The prices of commercial property in Bangalore are hitting the sky. Seeing the high growth witnessed by the IT city and the proportionate increase in the value of land, the government took the decision to increase the rates for residential property in the city by and industrial properties by 25%.

The hike in properties in Bangalore will certainly push the registration duty paid to the government. However, the rise in rates encourage undervaluing of properties. A large part of formalities necessary for registration of properties will now be done backdoor through ‘under the table’. The increasing prices are a disadvantage for both the property developer and buyer. Read More »

Bangalore in Want of 6,000 More Hotel Rooms

Bangalore, the garden city of the country, has attracted a large number of business travelers in the past few years. But, the hotel and hospitality industry here has yet to catch up with this growth, a fact clearly evident by the shortage of hotel rooms and service apartments in the city.

Also known as IT hub of India, Bangalore is all prepared to add 3,000 more rooms over the next five years. At present, there are over 2,500 hotel rooms in the premium category and around 300 recognized service apartments in Bangalore. The figures do not appear to stay in step with the current demand and also leading to an increase in hotel room rates in the city. Read More »

Office Absorption Continues Its Comeback in Bangalore

With Bangalore making rapid strides in IT/ITES sector, the office space absorption here has reached a new high of 14.2 million sq ft, which is believed to be the second highest in the world after Tokyo.

This is accountable for 53% growth over the past years. The office space absorption figure is known to stand at 9.28 million sq.ft thereby carving out a niche among the top four cities globally. With IT/ITes majors being bullish to set establishments in Bangalore, the city is likely to figure in the top cities globally in office space absorption in 2007, says the data showcased DTZ Debenham Tie Leung, an international real estate consultancy firm. Read More »

After Delhi, Bangalore to be the Next Maximum City

The Garden city of India, Bangalore is to witness amazing developments in its residential sector. Real estate developers are known to have fastened their seat belts to offer exclusivity to prospective buyers in the city.

With a European style villa, skyscraping residential complex having a single apartment on each floor, and an apartment with its own helipad, the days are not far enough when Bangalore will be counted among the most sought after cities in the world. Read More »

Bangalore sees fall in Commercial Property Rentals

Real estate happens to be one of the key aspects playing a crucial role in development of India’s garden city, Bangalore. With property here seeing appreciation quite rapidly, there is a contradictory situation for commercial property, which has seen a drop of over 30% in the last one year. Whitefiled, a suburb of Bangalore has seen property prices shooting up consistently.  However, a correction has taken place in the IT neighborhood. There are some connectivity related problems accountable for the scenario. In addition, oversupply is also believed to be another major reason.

This year, a balance between demand and supply has not been achieved. Commercial absorption in Whitefield stood at a little over 2 million sqft last year. The supply situation is pegged at over 6 million sqft while demand continues to be at 2 million sqft. This marks the difference of exactly 4 million sq ft. Oversupply is considered to be an often occurring situation in Indian metropolis. Read More »

Commercial Real Estate on the Fast Track

India’s premier IT city Bangalore continues to occupy the most commercial space amongst all other metros in the country. According to real estate consultant Cushman and Wakefield, of the 40 million sq. ft commercial space absorbed in the country, Bangalore accounts for 33.75%, or 13.5 million sq. ft.

Chennai takes second position with 6.5 million sq. ft commercial space absorbed in 2006.
Close on its heels at 6.4 million sq. ft. in 2006, as against just 3.2 million in 2005, the NCR recorded the maximum growth – in fact the area doubled in a year’s time. In 2007, 3.5 million sq. ft commercial space will be added, taking the total to 9.9 million sq. ft. Rental values increased with this increased space, going up by as much as 60%. The IT and ITES sector have led the growth in Delhi, Noida and Gurgaon.. Read More »

Bangalore Prepares to Get a Major Facelift with 5 Satellite Townships

If the Karnataka Government gets its planning right, then Bangalore is all set to witness a massive phase of development with a cluster if five privately built satellite townships spread over a total of 60,691 acres around this cyber city known as Silicon Valley of India.

The intent of the new regime in the Bangalore to develop Satellite Township is seeing majority of bidders jostling hard to grab the project which is to be created on 9684 acres of private land, in Ramanagaram constituency. Indeed, the list also includes the names of major construction consortiums such as Shanghai Urban Construction Corporation and Singapore based Jurong Construction Company. Read More »

Real Gains for Indian Real Estate

Real Estate in India has seen a tremendous positive change in the last decade. Today, Indian construction industry enjoys a substantial presence in the world and has reached to a niche where there is no going back. Escalating GDP, improving demographics, growing affordability, and rising impact of IT and ITes are some of the factors that are believed to have fuelled the growth.

The booming Indian realty sector is all set to witness a cumulative investment inflow of around $435 billion in the next approaching years, says a report by Edelweiss Securities. Read More »