While the real estate market of metropolitan cities like Mumbai and Delhi & NCR are witnessing some gloomy days, and the builders are the worried lot, the folks in Bangalore have every reason to cheer. The market is certainly up and the demands never saw a downward graph. The market has a number of boosters to keep the demands and values up. Some of these are availability of still-affordable properties, increasing interests of the expatriates in the property market here, and great IT sector performance which has kept the demands for property in Bangalore going.
Here are some other reasons which would make you think to invest in Bangalore property segment currently.
Active Home Segment
While the rest of country is fighting with the issues of inventory pile up and dipping property rates, Bangalore property market, particularly residential segment is flooded with new launches. Infrastructure has taken the front seat and is driving the realty segment greatly. Suburban areas of the cities are witnessing some extensive demands as the properties in affordable segments are available. New project launches have dominated areas like North, North-East and South-East and South Bangalore. The rate at which Bangalore witnessed infrastructural development has been commendable. Localities around outer-ring road and the Kempegowda International Airport have fetched the most buyers.
Festive Season Offers on Property
To boost up the demands more, builders are leaving no stones unturned to accelerate sales and attract more and more buyers. In the festive seasons, the property market of Bangalore, along with other cities, get flooded with new offers and discounts from the sellers. Builders are all set to come up with numerous discounts and freebies on the occasion of Navratras and Diwali, as this is the high time that the real estate segment registers maximum volume of home sales.
Not only this, early birds can avail some more offers and discounts, such as reduced stamp duty, less registration fees, discounted brokerage or even no brokerage, free parking, club facilities, or amenities such as modular kitchens. In addition, gold coins have also been an attractive gift considering the occasion of Dhanteras. The lucky ones can also count on free cars, a sure shot market strategy of the builders to attract buyers. A number of developers have also started to launch new schemes for undergoing projects to sell off their properties, which have still not found buyers.
Great Investment Option
As already discussed, the property prices are going up like anything in Bangalore, making realty investing a great deal. Buyers, particularly investors can find it a good idea to put money in plots, as the prices are good and returns are also quite alluring. Apartment culture is certainly picking up in the city and the returns are also quite good, but as far as plotted development is considered, the market is growing at a jaw dropping rate. Demands for plots are increasing, while infrastructure and other facilities are also improving. You would certainly not regret investing in a plot.
Banks are happy to give away attractive home loans at their predetermined interest rates, coupled with tax incentives and better earnings. In such cases, the borrowers can avail an income tax benefit of up to the maximum permissible limit. This has certainly enticed the younger population to put money in Bangalore real estate segment. However, you need a long term planning if you are looking to invest in a property.
All in all, homebuyers or investors who do not have that big budgets or are willing to invest in second properties can consider the properties in the outskirts of Bangalore. Since these areas are witnessing gradual growth, the returns on investments will be alluring in future, and give you all the reasons why you should invest in the property segment of Bangalore.