Bangalore realty outshines other top metros
Bangalore has surpassed bigger property markets such as Mumbai, Delhi and Chennai. Real estate research firm PropEquity says that the Southern city recorded a 140% growth in the quarter till June over the year-ago period.
As sales in most other cities stagnated or decreased, Bangalore witnessed sale of 15.58 million sq ft of residential space giving it a total market share of 13.9% the first quarter of the current fiscal. At the same time, property sales in the bigger markets of Mumbai Metropolitan Region and National Capital region fell by 60% and 57% respectively.
Experts say that factors such as a greater percentage of end users among buyers than in the other cities and a relatively moderate price escalation contributed towards Bangalore realty being on top of home sales.
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