According to a report from a real
estate body, the amount of the inventory that is unsold in Bengaluru is almost
2.2% of the new launches in the city if we consider past six years. A Property in Bangalore
is a big deal because of such advancements and advantageous condition.
In between 2010 and 2015
approximately 206,753 units were on the market, and a total of 4492 was unsold
according to realtor's crest body Confederation of Real Estate Association of
India's (Credai) Bengaluru chapter.
"Bengaluru planner have one
more time shown their gracefulness in operating demand and supply mismatch,
authenticated in middle of last year & have been lucrative in pushing for
combative sales in the last quarter of 2015 and also reduced new launches,
which assured that the real unsold inventory has gradually reduced," Juggy
Marwaha, managing director JLL South India told TOI.
The maintained report quotes that
the real estate of Bangalore is blooming and is far better than Delhi NCR and
Mumbai.
"Because of the leasing of
office spaces in Bangalore, the city has become the largest office market town
in the world back in 2K15. The shortage in supply of high-quality residential
apartments will soon be solved” CREDAI chairperson Irfan Razack said. Because
of this the Bangalore real estate would be affected by this very soon
The under construction projects
that are different from the unsold inventory in completed projects is 82357.
Mumbai remains in the situation while Delhi leads forward with almost 180000
units the report added.
The current sales rate that was
about 9-10% in 2015, it will take approximately ten quarters or two and half
years to clean out the remaining inventory.
The Ozone chief executive
Srinivasan Gopalan said – Fewer stocks are because of the developers that got
the ticket size right, and the end user got the value for their money.
On the other hand, the CREDAI
report states that there is no doubt on around 1 lakh unsold inventories as
seen in media. Apartments, villas are included in the list of around 956
projects. Almost 433 developers have taken part in the conducted study out of
which notably 238 were CREDAI members!
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