Bangalore, August 23, 2016: the silicon city,has recorded a substantial rise in the number of enquiries for affordable housing projects, majorly in the Northern and Eastern parts of the city, in the first half of 2016. This got substantiated by the massive response the digital exhibition organized by 99acres.com between 3rd and 10th August, 2016 received from end-users and investors. The expo received traction from over 2.5 lakh visitors. A major chunk of the properties sold in the expo belonged to affordable and mid-housing categories.
Different industry reports, including 99acres.com’s Insite for the quarter Apr-Jun 2016, accredit this demand to the rise of office space absorption and establishment of new commercial centres in North and East Bangalore. The city recorded a significant surge in the demand of ready-to-move-in properties, indicating increasing buyer preference for projects offering immediate possession. Further, affordable land parcels, proposed industrial growth and impending metro connectivity promise a propelling housing market in areas such as Whitefield, Marathahalli, Old Airport Road, Old Madras Road, KR Puram, and Sarjapur Road.
*Demand and supply of ready-to-move-in vs. under-construction properties in Bangalore
About 23 reputed developers from the ‘garden city’, including Puravankara, Brigade, Embassy, Sattva, SLV and Arvind hosted their properties in the digital expo. The offers provided an ideal opportunity to prospective homebuyers to grab attractive deals and discounts running up to Rs 22 lakh on the cost price of the property. Other attractions for the online visitors were subsidies on home loans provided by a major Bank and discounts on rides for site visits by Travel Partner Ola.
The seven-day long exhibition presented the homebuyers a pool of more than 40 projects to choose from across various configurations (1, 2, 3, 4 & 5 BHK), property types such as apartments or villas, and varied budget ranges. Homebuyers also had the flexibility to filter their property search across the city, be it, East or South Bangalore.
Corporate Comm India(CCI Newswire)
