Cost of real estate projects in Bangalore is attracting NRI investment
Bangalore is one of the preferred destinations for people to reside in India.
As per a study made by a real estate research firm, it is found that residential prices in the tech city have moved in narrow ranges in FY2012, without much variation. Given the depreciation in rupee, it seems a good time for NRIs to invest in Bangalore.
Bangalore has been expanding radially to meet residential demands of the increasing populace of the city. Bangalore witnessed the launch of approximately 9700 units, which are scheduled to be completed in the next 2-3 years. At present, most of the residential projects in Bangalore are concentrated towards the northern and the southern part of the city.
Residential units in Bangalore were responsible for around 70% of the total number of units launched during financial year 2012. The ticket size of the residences ranged from Rs 2.5 million to Rs 7.5 million.
As per the research report, almost 1,19,000 residential units are under various stages of construction in the Bangalore market.
To read more real estate stories:
Cost of properties in the outskirts of Bangalore is increasing
Builder in Bangalore is fined for delay in construction
Source: Economic Times
Apartments in Bangalore, Investment in Real estate, NRI investment, Projects in bangalore, Real Estate in Bangalore, Residential units in Bangalore
Good post!