Bangalore Realty may see 25 per cent growth.

The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent as per the CREDAI estimation.

“We are expecting the realty to grow by 25 per cent in the coming year. Last year too we have witnessed a similar growth,” said Sushil Mantri, president, CREDAI Karnataka.

The city is likely to absorb about 7.1 million sq. ft. of office space against a supply of 7 million sq. ft as per the studies conducted last year while demand for office and commercial sales in the city saw a rise, residential sales remained slow.

Experts said that the city witnessed a great strength in high street leasing and rent, and capital value has increased nominally in a few sub-markets. Also, there was a rise in rental value as demand by retailers remained strong.

With commercial office space developers offering favourable options, predictions for 2012 are that several IT companies in the city will look at pre-leasing office space.

However, analysts opine that office space supply will outweigh demand.

“FDI in multibrand real estate is expected to catalyse a lot of demand from international retailers. International luxury brands will restrict their growth plans to Mumbai, Delhi and Bangalore,” states a projected report by Jones Lang LaSalle India, Realty Intelligence firm.

 

Post a Comment

Your email is never shared. Required fields are marked *

*
*