Real estate market is no longer the same as it used to be. Many renowned builders and Real Estate Developers in Bangalore are coming up with premium living concepts that are luring potential home buyers, as they introduce jaw-dropping offers with world-class amenities. Real estate developers are becoming more experimental by introducing world-class infrastructure, interiors by popular designers and state-of-the-art amenities that encourage people to look forward to premium stay, explains Hirav Shah, India’s Top Astro Strategist cum Business Astrologer, who has been working closely with many of the leading Developers, Infrastructure, and Real Estate giants of India, USA, etc as a Real Estate Strategist, Real Estate Investment Advisor, Property Investment Advisor.
Real Estate in Bangalore has huge commercial and housing unsold properties and developers of Bangalore are trying hard to sell it out.
Lets understand the current situation of commercial real estate in Bangalore. Lets know key trends in Bangalore’s Real Estate Industry.
Current Status of Commercial Real Estate in Bangalore
Hirav Shah was consulted on Bangalore real estate trends by property investors. He keeps an eye on Bangalore real estate market trends.
Astro -Strategist Hirav Shah further adds- In Bangalore, there is an increasing demand for office space which large corporates are acquiring as the current economic scenario is an opportunity to conclude the transaction at a discounted price for bulk office spaces. Though mid-size companies and the MSME sector are downsizing their office space requirement and workforce, there is an ongoing demand for small and midsize office space as well.
India is becoming a hub for large office space requirements. Multinational companies are eyeing India as a hub for Data Centre Offices, especially in cities like Bangalore. Around 10 million sq.ft is likely to be occupied by the Data Centres in the next 24-36 months. From May’20 to July’20, India has witnessed deals of approximately 11 million Sq.Ft for commercial real estate and another 8 million Sq.Ft is expected to be absorbed in the future. And, finally, Real Estate Investment Trust (REIT) is gaining momentum in India after the first IPO of Embassy Office Park REIT, followed by Mindspace Business Park REIT. Corporate giant Tata Realty & Infrastructure (TRIL) is planning to list its Real Estate Investment Trust (REIT) with around 20 million sq ft of commercial assets in the next couple of years.
Current Status Of Housing Real Estate in Bangalore
Celebrated Real Estate Strategist, Hirav Shah is of the opinion that- There has been a lot of monetary easing by banks in the last few months to support the economy, and as a result, assets like homes will rise in value. More importantly, because supply will be more constrained for a while in the ready-to-move-in homes segment, prices will rise significantly by about 5-15% in the coming 24-month period.”
Sales witnessed an increase in Bangalore by 60 percent due to lower interest rates. Lower interest rates are helping the upsurge of sentiment in home buying in Bangalore .
The pandemic made those who live in urban slums migrate back to villages, hence, the developers have realised that housing demand is a pyramid with the maximum scope for affordable housing.
Seven years ago, people wanted to buy aspirational homes; now they’re looking for utility homes of range- ₹2 crore and below and ₹5 crore and above, says Shah.
4 periods are very important for Real Estate in Bangalore FOR BUYERS as well as REAL ESTATE DEVELOPERS.
These periods will turn around the trust factor and buyers interest in Bangalore Real Estate and Delhi Real Estate.
- December 4 to December 25
- January 25 to February 21, 2021
- May 20 to July 28, 2021
- September 10 to October 24
Hirav Shah’s Predictions for property trends in Bangalore
- Commercial Real Estate in Bangalore will first pick up around the beginning of 2021.
- Housing Real Estate in Bangalore will start to pick up from May 2021.
For Developers, Builders and people in the Business of Real Estate, Hirav Shah concludes by saying-
Exponential GROWTH can be achieved, When you know your DESTINATION before you begin. ASTROLOGY is the only TOOL, where you get to know things in advance, before making any strategies or taking any massive action. In a nutshell, to ensure a much brighter future in Real Estate Business, ASTROLOGY is the only key !!