Next 8 Months, Bangalore Real Estate Price Rise by 15% ; Nirmal Bang

According to a research by Nirmal Bang, a brokerage and analyst firm, the residential market in Bangalore is expected to witness a price rise of up to 15% over the next six to eight months.

This move by developers to increase the prices rides on the positive run, which they have witnessed during 2011.

Key Points of Nirmal Bang Report..!

* In the first 2 months of 2012 witnessed the launch of several projects by reputed developers and the momentum is expected to continue in the coming months, thanks to the demand from the IT (Information Technology) and ITeS sector &  better affordability compared to other cities in our country.

* Bangalore has seen absorption of 4.9 crore square feet of residential property in 2011, more than in any other Indian city (4% &  40% higher than NCR &  Mumbai respectively).

* A 15% year on year increase in absorption in calendar year  2011 in commercial space compared with 8 % increase and 9% decline in absorption in NCR & Mumbai, respectively

* The residential capital values in Bangalore are not above their 2008 peak, unlike NCR (National Capital Region) and Mumbai markets, thereby providing high affordability quotient. 

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