B’lore May See Property Price Correction

June 6, 2007	(4 votes, average: 4.5 out of 5)  Loading ...
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Properties in prime residential market in Bangalore are likely to undergo price correction. Growing imbalance between demand and supply in the city has given a strong jerk to the residential property prices over the past one year. This is now to see a marginal fall.

Demand for premium residential property in renowned areas including Raymond Town, Benson Town, Koramangala, Jayanagar, off MG Road, Cunningham Road, among others may fall as small premium apartment complexes seem to come up at place of the independent bungalows.

With soaring property prices, the real estate sector has attracted large investments leading to a rise in plot developments and villa projects in central areas like Sarajpur Road, Hosur Road, Bannerghatta Road near Jigani, Bellary Road, Doddaballapur Road and Hoskote.

The additional supply will cater to the rising demand for residential properties in Bangalore and stabilize the continuous rising values in the next 8 to 12 months.

Other price sensitive locations in Bangalore will see a rationalization of capital values wherein the property market is on its way to reach thresholds and new supply is being infused in the market at high prices.

A situation of over supply is expected for South-East Bangalore and this may contribute to a marginal correction in these locations.

News Published Under:   Bangalore |

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