Bangalore realty market remains stable
The Bangalore real estate market has shown ample transactions in May, while vacancy rates plummeted due to stable demand amid limited fresh supply, according to a recent report by Jones Lang LaSalle (JLL) India.
Axis Aerospace & Technologies leasing space in Vaswani Centropolis, KPMG leasing space in Salarpuria Hallmark 1 and Ericsson leasing in Umiya Business Bay were some of the big transaction took place in the realty market.
However, Bangalore witnessed only a minimal rise in demand for residential apartments in May. Most of the residential projects launched were on Hosur and Bellary Roads.
Approximately 9700 projects are scheduled to be completed in the next 2-3 years during FY 2012 in the city. Almost 119000 residential projects are under construction in the city real estate market as of March 2012.
The JLL report said that vacancy rates, rents and capitals remained stable in the existing malls over the last two years.
To read more real estate news:
Property sales in Mumbai witnessing a negative growth
Real estate is growing in South Indian cities
Source: Economic Times
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