Monthly Watch: New Launches Up 127% In Bengaluru, Prices Stable

If data is any indication, buying property in Bengaluru has become more lucrative for home buyers. While there have been large-scale new launches in the month of October, prices have increased only three per cent on an annual basis, according to a PropTiger DataLabs report. This gives home buyers a lot of options to pick from without shooting up their budget.

Launches shoot

In October, project launches increased by 127 per cent in Bengaluru over the previous month, shows the PropTiger DataLabs report. This is the highest appreciation seen in launches in the past eight months. Considering the fact that developers have been exercising restraint in launching projects with their focus shifting towards completing their ongoing constructions, this rise in project launches in the Silicon Valley of India is tremendous. Developers who launched projects in Bengaluru in the month of October included GM Infinite, Esteem Developers, Mahaveer Developers, Skylark and Total Environment. These launches were concentrated in areas such as Electronic City, Whitefield, and JP Nagar. Half the new launches were focused on affordable housing.

In September, new launches in Bengaluru declined 16 per cent over August. 

Sales up

Home sales in Bengaluru saw a monthly increase of 10 per cent, with the affordable housing capturing half the share. Among the top-performing localities in Bengaluru in October were Avalahalli, Varthur, Budigere Cross, Whitefield Hope Farm Junction and Electronic city, in that order. These localities contributed the highest to the monthly home sales. 

In September, home sales remained stable over the previous month.

Prices stable

Similar to other major property markets, Bengaluru real estate, too, did not see any monthly price appreciation in October. At three per cent, the annual price rise has also been only marginal.

In September, no price appreciation was seen in Bengaluru property.