Bangalore Property Prices.

Property prices in Bangalore have witnessed only a nominal increase of 4 per cent in the first quarter of the present financial year over the corresponding period last year on the back of a slow demand growth. “Bangalore market continues to witness a slightly lacklustre trend with a price increase of just 4 per cent over the last 12 months. However, it looks to be a good end-user as well as an investor market because prices have bottomed out,” Vineet Singh, Business head of real estate portal, 99acres.com said. There are many new launches scheduled in the near future which will be available to users at an attractive price range, he added. He also said that investors, with a time horizon of four years to five years, could enter the real estate market in such a scenario. The report also pointed out that while some localities have seen an appreciation in property prices, others witnessed a decline during the period. “Property prices in Whitefield saw a 12 per cent appreciation during the first quarter this fiscal. However, prices have dropped 2 per cent in Indiranagar and 10 per cent in Marathalli during the period,” the report said. As per the report, property prices prevailing around Whitefield area is Rs 3,354 per sq ft. “Key localities in Bangalore south, namely HSR Layout, J P Nagar and Kanakpura road witnessed a 23 per cent, 15 per cent and 25 per cent rise in prices respectively during the quarter,” the report said. However, property prices at Bannerghatta, Electronic city and Koramangala fell around 5 per cent in this period, it added. While prices of properties in Bannerghata are around Rs 3,265 per sq ft, it stands at Rs 2,499 per sq ft in Electronic city and Rs 2,405 per sq ft in J P Nagar. During first quarter of the present financial year, Bangalore north region has seen a rise in property prices. “Yelahanka saw prices appreciating by 14 per cent and stands around Rs 3,290 per sq ft. Similarly, property prices increased 5 per cent over the last year in the R T Nagar area,” the survey said. However, property prices have depreciated by around 5 per cent in Hebbal area during the first quarter of this fiscal. Source: http://www.business-standard.com/india/news/property-prices-remain-flat-in-q1/443239/