Bengaluru Real Estate Trends Houseliv

Bengaluru Real Estate Trends

Bengaluru has become one of the top property markets in the APAC region to watch out for, according to Knight Frank’s “Asia-Pacific Outlook 2023.” The residential market in Bengaluru, which is projected to grow by 5% annually, is the second-best market out of the 24 markets the report is tracking, according to the report. This is fantastic news for anyone looking to invest in the Bengaluru real estate market, both buyers and sellers. In this blog, we’ll delve further into market analysis and trends, look at the variables influencing Bengaluru’s real estate market, and offer investment tips for both buyers and sellers in 2024. 

We’ll also examine in more detail the neighbourhoods of Binnypet, Devanahalli, and Doddaballapur, which are anticipated to have a big impact on the city’s growth story, and why making an investment there might be a wise choice. Consequently, if you’re curious about the Bengaluru real estate market, keep reading to find out more!
Bengaluru Real Estate Trends

Bengaluru  has become one of the top property markets in the APAC region to watch out for, according to Knight Frank’s “Asia-Pacific Outlook 2023.” The residential market in Bengaluru, which is projected to grow by 5% annually, is the second-best market out of the 24 markets the report is tracking, according to the report. This is fantastic news for anyone looking to invest in the Bengaluru real estate market, both buyers and sellers. In this blog, we’ll delve further into market analysis and trends, look at the variables influencing Bengaluru’s real estate market, and offer investment tips for both buyers and sellers in 2024. 

We’ll also examine in more detail the neighbourhoods of Binnypet, Devanahalli, and Doddaballapur, which are anticipated to have a big impact on the city’s growth story, and why making an investment there might be a wise choice. Consequently, if you’re curious about the Bengaluru real estate market, keep reading to find out more!

Market Trends And analysis : An Overview of the Bengaluru Real Estate Market in 2024

The real estate market in Bengaluru is expanding quickly, and a number of neighbourhoods have become popular investment locations for both buyers and investors. According to Knight Frank’s “Asia-Pacific Outlook 2023,” residential prices in the city are predicted to increase by 5% annually, making now an ideal time for investors and homebuyers to look into Bengaluru’s real estate market.

Binnypet is one such location that has drawn interest from both buyers and developers. With strong connectivity to the rest of the city, this small market enjoys a strategic location. A desirable investment location for buyers seeking a well-connected area with a thriving social and cultural scene, the area is surrounded by several commercial hubs including Chickpet, Chamrajpet, and Okalipuram. 

Additionally, Binnypet is anticipated to see a significant increase in property prices due to the growing demand for residential real estate, making it an excellent investment opportunity for buyers seeking to realise a sizable return on investment over the long term.

In addition to Binnypet, Devanahalli and Doddaballapura have also become popular areas for real estate investments in Bengaluru. Industry experts claim that the demand for plotted developments has increased in these areas, and several launches for such developments have recently occurred. Due to its excellent accessibility to Whitefield, which is located an hour’s drive away and major business districts in North Bengaluru like Hebbal, Devanahalli is becoming increasingly popular. 

Additionally, Doddaballapura will be connected to important areas of the city, such as Tumkur Road, Hyderabad Road, and Kolar Road, by the proposed Satellite Town Ring Road (STRR). Doddaballapura will become an appealing investment opportunity for buyers looking to invest in the Bengaluru real estate market as a result of this infrastructure development, which is anticipated to result in a significant increase in property prices in the neighbourhood.

There are many investments for buyers and investors looking to generate a sizable return on investment over the long term in the Bengaluru real estate market, which is currently experiencing significant growth. Buyers can investigate these areas and select the one that best suits their investment objectives and preferences with areas like Binnypet, Devanahalli, and Doddaballapura emerging as important investment destinations. 

ong-term success is likely for developers and investors who can adjust to these changes and overcome the obstacles.

Bengaluru Real Estate Market Forecast 2024

Bengaluru has become one of the top property markets in the APAC region to watch out for, according to Knight Frank’s “Asia-Pacific Outlook 2023.” The residential market in Bengaluru, which is projected to grow by 5% annually, is the second-best market out of the 24 markets the report is tracking, according to the report. This is fantastic news for anyone looking to invest in the Bengaluru real estate market, both buyers and sellers. In this blog, we’ll delve further into market analysis and trends, look at the variables influencing Bengaluru’s real estate market, and offer investment tips for both buyers and sellers in 2024. 

We’ll also examine in more detail the neighbourhoods of Binnypet, Devanahalli, and Doddaballapur, which are anticipated to have a big impact on the city’s growth story, and why making an investment there might be a wise choice. Consequently, if you’re curious about the Bengaluru real estate market, keep reading to find out more!

Market Trends and Analysis: An Overview of the Bengaluru Real Estate Market in 2024

The real estate market in Bengaluru is expanding quickly, and a number of neighbourhoods have become popular investment locations for both buyers and investors. According to Knight Frank’s “Asia-Pacific Outlook 2023,” residential prices in the city are predicted to increase by 5% annually, making now an ideal time for investors and homebuyers to look into Bengaluru’s real estate market.

Binnypet is one such location that has drawn interest from both buyers and developers. With strong connectivity to the rest of the city, this small market enjoys a strategic location. A desirable investment location for buyers seeking a well-connected area with a thriving social and cultural scene, the area is surrounded by several commercial hubs including Chickpet, Chamrajpet, and Okalipuram. 

Additionally, Binnypet is anticipated to see a significant increase in property prices due to the growing demand for residential real estate, making it an excellent investment opportunity for buyers seeking to realise a sizable return on investment over the long term.

In addition to Binnypet, Devanahalli and Doddaballapura have also become popular areas for real estate investments in Bengaluru. Industry experts claim that the demand for plotted developments has increased in these areas, and several launches for such developments have recently occurred. Due to its excellent accessibility to Whitefield, which is located an hour’s drive away and major business districts in North Bengaluru like Hebbal, Devanahalli is becoming increasingly popular. 

Additionally, Doddaballapura will be connected to important areas of the city, such as Tumkur Road, Hyderabad Road, and Kolar Road, by the proposed Satellite Town Ring Road (STRR). Doddaballapura will become an appealing investment opportunity for buyers looking to invest in the Bengaluru real estate market as a result of this infrastructure development, which is anticipated to result in a significant increase in property prices in the neighbourhood.

There are many investment opportunities for buyers and investors looking to generate a sizable return on investment over the long term in the Bengaluru real estate market, which is currently experiencing significant growth. Buyers can investigate these areas and select the one that best suits their investment objectives and preferences with areas like Binnypet, Devanahalli, and Doddaballapura emerging as important investment destinations. 

ong-term success is likely for developers and investors who can adjust to these changes and overcome the obstacles.

Investment Strategies for Bengaluru Real Estate in 2024: Tips and Advice for Buyers

Examine market trends and projections to find potential investment opportunities. 

Think about making investments in micro markets that provide buyers with affordable options, like Binnypet, Devanahalli, and Doddaballapura.

Find homes with amenities that support a healthy lifestyle and enough space for a home office to achieve a better work-life balance.

Before making an investment in any property, consider the reputation, performance record, and financial stability of the builder.

Pre-launch or under-construction properties might be worth investing in because they provide a higher return.

Invest in a variety of real estate, such as apartments, villas, or plots, to diversify your portfolio.

To obtain the best possible price, bargain with the builder or the seller.

Before investing in any property, make sure that all legal requirements, such as title verification and documentation, are satisfied.

Get in touch with a professional real estate investment platform like Houseliv to help you navigate the market and make informed investment decisions.

Houseliv is an online platform offering the best properties in cities such as Chennai, Bengaluru, and Hyderabad. Houseliv offers a wide range of products from commercial to co-living spaces. Visit our website for more investment details.

Frequently Asked Questions on Bengaluru Real Estate Market Forecast 2024:

Q1. What will happen to the property market in Bengaluru in 2024?

Bengaluru has become one of the top property markets in the APAC region to watch out for, according to Knight Frank’s “Asia-Pacific Outlook 2023.” The residential market in Bengaluru, which is projected to grow by 5% annually, is the second-best market out of the 24 markets the report is tracking, according to the report. This is fantastic news for anyone looking to invest in the Bengaluru real estate market, both buyers and sellers.

Q2. Will real estate prices go down in Bengaluru?

The price of the property in Bengaluru has reduced by 2% in the last year due to the pandemic. The price of the properties has been reduced to ensure that the properties are made more affordable to the buyers. However, it is expected to rise in the future once the pandemic is settled and everything is back to normal.

Q3. What is the trend in real estate in Bengaluru?

The trends followed by the Bengaluru realty market include various reformations taken by the government, the affordable housing segments, co-living, and senior living spaces, etc. Various changes have been brought in the landscapes of Bengaluru to make it an ideal location for real estate investment.

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Houseliv Realty

Only digital e-khatas from September 30 for BBMP properties in Bengaluru

Houseliv Realty

Starting September 30, physical khatas will be phased out as the Bruhat Bengaluru Mahanagara Palike (BBMP) launches its digital e-katha issuance system.

The civic body has digitised around 21 lakh property records in Bengaluru to implement a fully online, faceless, and contactless e-khata system. Currently, property records are maintained manually in over 5,500 ledgers. The digitisation process began in 2023 following directives from Bengaluru Development Minister D.K. Shivakumar.

Under the new system, BBMP staff will visit properties to capture GPS coordinates, which are mandatory for obtaining the BBMP e-khata. Tushar Giri Nath, Chief Commissioner of the BBMP, stated in a release, “The GPS coordinates will serve as the unique identifier for your property and are essential for the faceless, contactless online delivery of all BBMP e-khata services.”

Mr. Giri Nath urged Bengaluru residents to cooperate with civic staff during property visits. Officials noted that this initiative aims to reduce bureaucracy and corruption in khata issuance, while also boosting property tax revenue.

Real Estate Bengaluru

Bengaluru Plans Major Transformation With Three New Integrated Townships In Bidadi, Solur And Nandagudi @Houseliv

Real Estate News Bangalore Houseliv
The Bangalore Metropolitan Region Development Authority (BMRDA) is set to develop three integrated townships on the outskirts of Bengaluru, reviving a proposal that has been in the works for nearly two decades.

The townships are planned for the suburbs of Bidadi, Solur near Magadi, and Nandagudi in Hoskote. According to officials, the Bidadi Township will be the first to be developed, serving as a pilot project.

“We are focusing on these three areas because they are connected to the Satellite Town Ring Road (STRR),” explained Rajendra P Cholan, Metropolitan Commissioner of BMRDA.

“Bidadi will be the first to be developed. It is strategically located, surrounded by four highways. Our plan is to create an integrated township with a mix of commercial establishments like logistics parks and data centres, alongside high-rise residential units,” he added.

Planned townships on map. (Artha Midas)

Nandagudi was selected due to its location along the under-construction Bengaluru-Chennai Expressway, while Solur was chosen for its proximity to Nelamangala and Bengaluru, Cholan added.

As part of the preparatory work, BMRDA has reached out to Namma Metro to assess the feasibility of extending metro connectivity to these regions. In addition, the Bangalore Water Supply and Sewerage Board (BWSSB) has been asked to develop infrastructure for supplying potable water to these areas.

The BMRDA has several tasks ahead as it moves forward with the project. The authority is seeking state government approval to notify a large parcel of land for acquisition. Additionally, it is gearing up to prepare a detailed project report (DPR), while the Bengaluru Urban district administration will conduct a social impact assessment study.

Cholan noted that the government has already deployed three land acquisition officers to begin groundwork for the project. “We will also establish an engineering wing, and the file is currently awaiting approval from the finance department,” he said. “Additionally, we are in discussions with several financial institutions to secure loans for the project.”

The three regions were part of a broader proposal made in 2006, during H D Kumaraswamy’s tenure as chief minister, to develop five suburbs, including Ramanagara and Sathanur, into integrated townships. However, the project stalled following a change in government.

In November of last year, the Siddaramaiah-led government established the Greater Bengaluru Development Authority (GBDA), which has the mandate to carry out development work in the BMRDA region.

The region includes 12 local planning authorities spread over 8,000 square kilometres. Similar to the Bangalore Development Authority (BDA), the GBDA is expected to handle land acquisition and engineering work for the proposed townships.

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Bengaluru India's Biggest Real Estate Market In Last Quarter, Says Report @Houseliv

Bengaluru Houseliv Realty: The IT hub has emerged as the leading residential real estate market, with a sale of 18,550 units last financial quarter, said a report from Real Estate Intelligence Service (REIS) of JLL Research on Thursday.

The report also pointed out that new launches in the city increased by almost 45 per cent, with 16,537 units.

Sustained demand for property in Bengaluru supported by the booming IT sector, infrastructureupgradation programmes and conducive business environment has been attracting several national and regional developers to the city, resulting in healthy launches every quarter, said Rahul Arora, senior managing director (Karnataka & Kerala), JLL India.Houseliv Realty

According to him, in Bengaluru, Whitefield contributed 47 per cent of the new launches, followed closely by Hosur Road and Bellary Road.

The upper-mid segment apartments (priced between ₹ 1 crore and ₹ 3 crore) held a dominant 62 per cent share in the last financial quarter.

"Whitefield continues to hold its dominant position driven by its office sector expansion and recent extension of the Namma Metro. The corridor connecting Whitefield to Kempegowda International Airport through Budigere Cross has attracted several reputed developers who have announced projects largely within a ticket price range of ₹ 1 crore and ₹ 3 crore," said Arora."Interestingly, around 25 per cent of Bengaluru's sales were contributed by projects launched during the first six months of the year, signalling strong buyer confidence in such developments," said Samantak Das, chief economist and head of research and REIS, India, JLL, adding that the city's unsold inventory too registered a perceptible dip.

Bengaluru Real Estate

Soon, you can check property's legal status in Bengaluru houseliv

Bengaluru: Property buyers will soon be able to check if the property of their interest is stuck in a legal tangle or has a clear title as the e-governance department is in the process of mapping all properties facing court cases and litigation.

The comprehensive database, which will be made public, will help property buyers check the legality of the property by using the corresponding property ID.

"There is confusion among buyers who are scared that they might end up buying properties under litigation. The database will clear the confusion and act as a one-stop destination for all details about the property," a senior official from the e-governance department said.

Owing to the lack of information, there have been numerous frauds and multiple court cases have been registered against a single property. Noting such developments, the Karnataka High Court had at multiple instances instructed the state government coverage all information sources.

Real Estate Bengaluru

houseliv.com

Illegal Construction in Bengaluru's Buffer Zones, Warn Expert.

In Bengaluru, experts have declared construction in buffer zones as illegal, sounding the alarm over ongoing projects that threaten these vital green spaces.

Environmentalists and urban planners have been vocal in their concerns about the encroachment on these ecologically sensitive areas.

As the Real Estate Bengaluru city continues to expand, the protection of buffer zones is critical to maintaining a healthy and sustainable urban environment.

The construction activities in Bengaluru's buffer zones have raised legal and environmental issues, prompting local authorities to revisit existing regulations and zoning laws.

This controversy highlights the urgent need for stricter enforcement of land use policies and the preservation of green spaces in the city.

The consequences of unregulated development in buffer zones can have far-reaching impacts on biodiversity, water resources, and overall urban well-being.

Bengaluru Development Authority BDA to launch 322 luxury villas in the Bengaluru city

322 opulent villas will be made available in the city by the Bengaluru Development Authority

At the Puneeth Rajkumar Housing Complex in Hunigere, which is part of Bangalore North Taluka, the Bengaluru Development Authority (BDA) is close to finishing construction on 322 villas.

For between Rs 75 lakh and Rs 1.1 crore, around 170 4BHK and 152 3BHK villas would be auctioned. According to BDA officials, the carpeting in the villas would be between 1,500 and 2,300 square feet. 

The sale will start soon, and customers can make online reservations via the BDA website.

When the villas are ready for sale, according to officials, their prices may increase by 10% over the original price. In the neighborhood, BDA has also built an apartment building with 320 1BHK flats.