REAL ESTATE IN BANGALORE

The year 2018 re-established Bangalore’s position in the commercial

space. According to a JLL report, the city accounted for the highest
absorption of office space at 7.9 million sq. ft. in the first nine months of
the year.

Bangalore also fared decent in the residential segment. According to a

recently conducted research, about 870 projects were launched in 2018.
About 50% of this new supply was in the mid-segment (Rs 40-70 Lakh),
followed by 24% in the affordable segment (Less than Rs 40 Lakh) and
26% supply in the luxury segment (Rs 70 Lakh and above).

Affordable housing witnessed a growth of 22% in sales during 2018. In the

recent Budget announcement, the government has extended the deduction
of interest on home loan by Rs 1.5 lakh to Rs 3.5 lakh
Bangalore has already gained its reputation as one of the most
preferred places for investments in real estate, especially among the well-
heeled communities in the city.  Luxury villas are not just witnessing
demand from NRIs, but also from home grown demand coming from
senior executives, entrepreneurs, among others.